I know, I know.... the left isn't warm and fuzzy with O'Reilly, and that's where my info came from, in the interest of full disclosure.

O'R was discussing all this banking mess and pointing fingers. His assertion was that it's a matter of the government not looking out for us - that the government agencies who are supposed to oversee these things weren't talking to each other and issuing warnings as they should have.

He blamed Bush for several appointees that he claims should have been vocal about the problems with the loans that never should have been made to alert the public to what was going on. I believe the pivotal man's name was Cox - the appointee, that is. He said the position is supposed to be a watchdog position and that he did not treat it as such.

He also blamed Barney Frank, as he is the head of the congressional banking committee that was really pushing loan-making to the poor, as that is part of his political philosophy. He pushed the 'dream of home ownership' for those who were on the lower end of the income spectrum and encouraged the creation of a number of the 'no money down, roll-the-closing-costs-into-the-loan, no income statements are necessary' policies that resulted in people being loaned money who never should have been loaned money.

Anyone here have a great handle on all of this? I admit I'm just learning how all of this works. I've always bristled at debt and have been surprised in recent years at the amount of house people that I presume make less than we do seem to be able to afford. I'm beginning to see how all of that happened and it does seem terribly irresponsible on the part of lenders.

Is there a "Southwest Airlines" among the big banks? One that has maintained solid practices that have kept it running in the black as all others are failing?

ETA: Here's a three minute clip where he discusses those he believes are largely to blame.
Bill O’Reilly | The O’Reilly Factor - FOXNews.com

ETA Again: He doesn't go into full details in that clip like I thought he did. The clip sets up the lead story, and it was in the lead story that he named names and called out those he believes are to blame. Still, the clip is a good synopsis of his view of *why* it happened.