[Reagan Man]

I guess Greenspan can be blamed for pushing easy credit and the subprime factor. The Home Ownership and Equity Protection Act Congress passed in 1994 was fairly frivolous legislation. Its been pointed out that Carter started the original program to make loans more available to poor folks. Then in the 1990`s Clinton enlarged that program. It was Franklin Raines as head of Fannie Mae in 2002 who actually pushed through easier loans for low income Americans. Wall St CEO’s are also to blame for pushing bad lending practices.

Its a financial crisis. A credit crunch fiasco brought on by greed. Many people are to blame. A wise conservative once said: Government isn't the answer to our problems. Government is the problem.

[jwalsh07]

Greed isn’t the root cause of this fiasco. The housing bubble has long tentacles which have given the “greedy” plenty of room to run amok. Cheap money, zero equity and compassionate home ownership are this years root cause.