Embedded in l Wallison's WSJ article is the source and answer to the question: Why do they blame the bankers? There's way too much mis and disinformation floating around out there and this article and the books written on the subject by Wallison, and others mentioned in previous blogs, go a long way to clearing the air and setting the record right. Bottom line: the bulk of the blame resides where it always does, with the policies of the government as ordered by the political class. Period.
ADDED: Joe Nocero, liberal NYT business columnist, begs to differ with Wallison and Pinto here. But he does so with narrative and very little in the way of specifics. The protection of Freddie and Fannie by the congressional liberal cabal of Barney Frank and the CBC, duly noted elsewhere on this blog, is evidence of Nocero covering for his fellow liberals.
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