how in the world can you possibly write with a straight face "The problem lies not in lax lending standards, poor analysis, greed on the part of lenders or credulity on the part of the buyer"???
if not for "lax lending standards, poor analysis, greed on the part of lenders or credulity on the part of the buyer" the fed could print trillions and trillions of greenbacks, and it would make no affect on the ability of this (and other) borrowers to get the loans they never should have been given.
good gawd it's these players role, their very reason for being involved, and the abdication of their responsibilty that led us to where we are at.
it's like you blame the poppy plant or the coca plant for the addict's plight....totally misdirected in assigning culpability. the fact that these sources exist (like the fed's loose money policy) does not relieve the pusher and the user from shouldering the blame.
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