More on the meltdown causes

Raghuram Rajan, the highly regarded economist from India, weighs in on the causes of the meltdown.  Same old same old -- government intervention in the credit system.  He rightfully goes back to Bush and all the predecessors who were captivated by doing for the poor through affirmative action credit.  The banking system was corrupted by the government, plain and simple.  His take is here.