>Interesting perspective.
>
>http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

Regarding the Bloomberg article, the truth of the matter is that a lot of well informed people, including Bernake himself, did not think there was a housing bubble in 2005. (See http://www.washingtonpost.com/wp-dyn/content/article/2005/10/26/AR2005102602255.html)

In the UT I see many who are friendly to one of the political parties trying to blame the other party for the mess. That is understandable, but please take a look and listen to the show below for an interesting take.

What I conclude from the show, if it presents reliable information, the culprit seems to be good old fashioned fraud by those issuing worthless loans and I presume also by those at Fanny and Freddy, who bought them without asking enough questions. I'd bet a lot of money passed under the table. The US needs to send many people to jail to provide some future deterrence while trying to save the system from collapse.

Transcript of the radio show: http://www.thislife.org/extras/radio/355_transcript.pdf
Listen to the radio show: http://www.thislife.org/Radio_Episode.aspx?sched=1242

Alex