"The market did not create the housing crisis. The government fiddled with the market all to hell, with the Community Reinvestment Act, the regulations surround

"The market did not create the housing crisis. The government fiddled with the market all to hell, with the Community Reinvestment Act, the regulations surrounding the ratings agencies, Fannie Mae and Freddie Mac's unmarket-like backings of loans, and a hodge-podge of other lesser interventions." Right, which is why it only happened in America, not in other places like England, and Ireland, and Spain, which had neither CRA nor Fannie nor Freddie. Oh wait... For a different, and for my money, substantially more accurate diagnosis of the crisis, go listen to William K. Black [1]. He was one of the regulators who prosecuted many of the corrupt bankers who perpetrated the savings and loan crisis. [1].http://dailybail.com/home/dr-william-k-black-the-great-american-bank-robbery.html http://dailybail.com/home/dr-william-k-black-the-great-ameri...