I was never quite clear that Pentecost.

I blame the American Congress, in consultation with Fannie Mae and Freddie Mac for them. And Barney Frank was her master. It was to be their noble desire of everyone to be able to buy a house. They should therefore pressure on the banks lending to these borrowers, the fools could not afford. Strong demand and created inflated house prices beyond reasonable limits. But most banks could unload (sell) for those loans to Fannie and Freddie before the chickens are negative. Of course, created on Wall Street and the rating agencies are given too much guilt, because they have received these complex financial assets, with residential mortgages, credit ratings, A and sold to unsuspecting investors and confident.

Who has benefited? Then, again Wall Street had its fingers in the game, because if these games it is advertised for investors, they secretly Greater Paris (credit swaps) for its own portfolio at the same time, such securities and would not go into arrears.

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