- Greenspan & The Feds for short term interest rates that were too low for too long [corrected from before, my terminology before was faulty]
- Parts of the Housing Industrial Complex (David Lereah and other shills)
- Irresponsible Lenders for lending to people who really can't afford it. All those toxic mortgages.
- Fannie Mae & Freddie Mac
- Asian Central Banks & GSE for buying all these bundled loans
- Speculators & Flippers ( for being greedy and fueling this mania)
- Some HomeBuyers for buying beyond their means and being ill informed.
- Parts of the Media for not informing the public about this issue sooner (finally they are communicating this)
- Others ( yet to be determined, please discuss)
Tuesday, August 22, 2006
Who Is To Blame?
As the housing market continues to experience significant declines in many bubble markets, we are again returning to the question of who is to blame for the housing bubble.