An early (and accurate) summary of the financial meltdown causes

In February of 2009, Peter Wallison carefully presented the real reasons for the financial meltdown in this article in American Spectator Magazine.  Much has been written since about the cause and reason this meltdown occurred, however Wallison's piece has stood the test of time as a definitive explication of the whole sorry event.  Cutting to the chase, the politicization of the housing market and its financing institutions (Fannie/Freddie, etc) clearly was the overriding cause.  As for whom to blame start with all the "progressives" (Barney Frank, et al), in the Congress, Carter and Clinton in the WH, and above all others Andrew Cuomo Secretary of HUD in the Clinton administration, as the prime movers.  Naturally the socialist groups (SEIU, Rainbow Coalition, etc) played major roles, particularly SEIU, Obama's favored grass roots organizing and lobbying pals.  This sorry collection of losers managed to infect the system with their collectivist philosophy, intimidating the normally more conservative bankers into playing along with them to some extent.  The Bush administration tried on numerous occasions to reign in Freddie and Fannie but were stiffed repeatedly by the likes of Frank and friends.  While assessing blame for the disaster,  Greenspan (for his loose monetary policy) and the rating agencies for their failure to properly assess and publicize the risk involved in all the paper (dirivitives and the like) that were issued and passed on by Wall Street, deserve their share.  And while we're at it let's note the complicity of the Wall Street banks who were coining it by producing and selling shabby mortgage backed securities and the rest all over the world. Lotsa guilty parties including all those people who bought in over their heads and the real estate industry that pushed those folks to buy when they surely must have known better.  It was the classic greed driven tulip bubble event of the 21st century.  We never learn.