Who was to Blame ?

I often get the question has did the housing bubble even happen.  

There are many reasons and plenty of blame to go around for sure.  However watching the movies "Inside Job" and "Too Big to Fail" certainly has shed some light on what happened when we look back on everything a few years later.  There is a line in one movie from Henry Paulson - we can rewind the tape if you want to, but we are here now.  That certainly was the case and the government was forced to act to keep the economy going, thus we have TARP.  

However when you see the massive private gains of those on Wall Street while hurting the public, it is sickening.  Fortunately the world economy is working to come out of the mess.  However I believe that we do need to rewind the tape and the government needs to impose strict regulations on those who knowingly benefited by their irresponsible actions so that it is does not happen again in the future.  

Nobody truly stood up to stop what was happening because the great economic times were good for Democrats and Republicans alike as it was easier to get re-elected.  There was plenty of blame to go around both on the public and private sectors alike.  Hopefully something like that will never happen again.