Wall Street Did It?

Don't blame big banks for the flailing economy and housing crash, notes IBD:

... based on the number of toxic loans in the system in 2008, the government was responsible for not just a simple majority, but more than two-thirds. It's quantifiable — 71% to be exact (see chart). And the remaining 29% of private-label junk was mostly attributable to Countrywide Financial, which was under the heel of HUD and its "fair-lending" edicts.

Via Memeorandum and Verum Serum.

PHOTO CREDIT: That Mr. G Guy.