Meltdown not over: 'Financial weapons of mass destruction' have yet to go off

So who is to blame for the Great Recession? Is it the Democrats, the Republicans, the greed merchants of Wall Street? Here is a condensed version of events to help you decide. And by condensed I mean I have reduced Einstein's Theory of Relativity to Dr. Seuss. I believe the pebble that started this economic landslide began rolling in the 1990s, when there was a push to increase low-income minority homeownership. This required a loosening of underwriting standards. Enter Freddie Mac and Fannie Mae. They are private corporations formed years earlier by Congress to lubricate the real-estate market. They didn't make direct loans to buyers. Instead they bought mortgages from the lenders who made those loans on what is called the secondary market. The lenders then took that money and sold more mortgages. Fannie and Freddie... [read full story]