Subprime meltdown culprits

As the cost of Wall Street's credit crisis has mounted, the hunt for villains has intensified and the accusations of fault have widened. At first the focus was on greedy profiteers among lenders and investment bankers, who were an easy (and deserving) target. Then the finger-pointing became politicized, with Democrats blaming deregulation advocates in the Bush administration and previous GOP-controlled Congresses, and Republicans citing influential Democrats at Fannie Mae and Freddie Mac and their allies on Capitol Hill. Lately, even former Federal Reserve Chairman Alan Greenspan, who once incited hero-worship among lawmakers, has been heaped with blame.

October 25, 2008