Beware of stories of undeserving poor people holding bankers hostage with regulations and forcing them to approve loans. You can't blame this on the Community Reinvestment Act. That isn't going to fly.

http://scienceblogs.com/authority/2008/09/the_subprime_mortgage_crisis_a.php

The right wing is desperate to project this situation as a result of regulations. Anything to obscure the fact that a cornerstone of the right's catechism, that markets can and will self-regulate, is patently wrong. Fact is that is was the lack of regulations, including those demanding transparency and limiting the ability to leverage and securitize debt, that allowed these robbers to make their profits and leave the American taxpayer to pick up the pieces to the tune of $700 Billion.

http://calculatedrisk.blogspot.com/2008/09/ny-times-makes-funny.html

Scroll down and read the lurid details and embrace the horror revealed in the articles.

http://calculatedrisk.blogspot.com/

The American people are going to get screwed. But I will be damned if I will sit quietly by and let those who profited not share in the pain of the train wreck they caused. Sorry mister CEO, CFO, and broker your going to have to give back the money. Your going to have to bleed with the rest of us.