HousingPANIC: The Ponzi scheme could have been stopped

HousingPANIC on the housing bubble and resulting credit crisis:

It disheartens me to see this mess today. The ponzi scheme could have been stopped in its tracks in 2003, 2004, 2005, 2006, or 2007. But now, it's just too late. Now, the pain will be greater than even most of you expected. And the damage to the reputation of America will last forever.

It didn't have to be that way. They could have listened.

And they did not.

What about 2001 and 2002?