Obama and the Democrats blame the Free Market and Wall Street for the meltdown. The real culprit of the melt down began in 1976 when Jimmie Carter created the Community Reinvestment Act which was designed to encourage home ownership for minorities. The real problem exploded under the Clinton administration when Clinton pushed Fanny Mae & Freddie Mac to buy from the banks, all the sub-prime loans they could find.
Then Franklin Raines and several of his associates at Fanny & Freddie who actuall were compensated by the volume of loans they bought (with our money) made hundreds of millions in fees.
Gee, I went into business in the private sector because I thought that is where the rewards matched the risks.