Ann cuts to the 'meat' of everything. Although she is a die hard conservative, I have read her articles where she will take out a Republican if stupidity rears it's ugly head.
I personally know of 2 couples with families where both parents work fulltime, both white, middle class who were given loans they could not afford. Now, when they were 'granted' these loans they could 'pretty much' afford the payments. It was when the reality of the balloon payment, or when the time came that the interest rate went way up that they could no longer afford their home. One couple I know had increased their income, but not to the extent to cover the cost of their mortgage. I also know for a fact both of them they had a very difficult time getting the loans. When the lender has to rework and retry many, different loan companies to get the loan, something is amiss. I figure as soon as the numbers need to be 'reworked' to make it work, it will get ugly down the road. It did. Fortunately, both couples have been able to refinance and will keep their homes.
Some of these people were led by the nose down the 'rosey path'. Some knew better, but what the hell. While these people should be responsible, the lenders need to be investigated for unethical, and possibly illigal practices...and beat appropriately. Yes, beat. Do not pass go, do not collect your golden parachute, prepare for the beating. This includes those in Congress who let this happen. They knew. If they did not, or are THAT stupid, then they should not be in a position of power. It does not matter to which political party they belong.