Highly risky, poorly underwritten mortgage loans were made and securitized (so that investors like us could be the bag holders). Then when the obvious and inevitable risk comes home to roost, everybody screams for the Fed to bail out all of this greed and foolishness. In addition to the greedy lenders, the Fed, SEC, and Banking regulators share responsibility. And it's not even like they were duped... just negligent. Criminally so, in my view.