Greed, ignorance, incompetence were all engaged in by a multitude of people across this mess.But people are always greedy. That doesn't explain why a small group of people suddenly behaved in a fashion that could be predicted to punish everybody, including themselves.
not excusing or blaming the government for the behavior of individuals who legally pooch-screwed the system. I am holding them responsible for messing with known regulations with decades of successful history thereby allowing said individuals to pooch-screw the systemIt is not credible that people suddenly began fraudulent/incompetent CDS behavior just because a statute dating back to 1933 was relaxed. There has to be more to it.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us."
-- Shakespeare: Coriolanus, Act 1, scene 1
