A distorted view of the banking crisis

The standard of public discourse in the United States reaches a new low when respected commentators can argue that the main culprits in the crisis that hit the US financial system were the politicians in Washington. If one wants to one can argue that EVERY citizen and institution was culpable, be they lenders, borrowers, investors, voters etc. But to pin the majority of the blame on Washington goes to far. No one ordered Dick Fuld to manage the affairs of Lehman Brothers the way he did, nor can this argument be an excuse for the egregious failure of Bear Stearns' management to see the danger signs flashing all around them - while they were happy to spend time on the golf course or playing bridge.