For over a year now we've discussed the subprime meltdown and it's possible causes. Was it the fault of lenders and their irresponsible (and lenient) guidelines? Was it dishonest loan officers who lied on applications in order to qualify clients? Perhaps it's appraisers who overinflated values of homes. Or were their arms twisted by real estate agents who threatened not to send them future business if they didn't make the values fit? Personally I think it's a combination of all the above and probably other factors as well.
Fast-forward to the financial crisis we are experiencing now and somehow all the blame rests on Fannie/Freddie and lending to minorities. Wow!
I'd like to contribute the following piece from Daniel Gross of Slate titled 'Subprime Suspects'