That would mean Wall Street bears 29% of the responsibility, while Washington bears 71%.
In a related piece, Gretchen Morgenson at the NYT notes a recent speech on needed financial reforms by Paul Volcker, former head of the Federal Reserve:
THE other area that cries out for change, Mr. Volcker said, is the nation’s mortgage market, now controlled by Fannie Mae and Freddie Mac, the taxpayer-owned mortgage giants.
“We simply should not countenance a residential mortgage market, the largest part of our capital market, dominated by so-called government-sponsored enterprises,” Mr. Volcker said in his speech. “The financial breakdown was in fact triggered by extremely lax, government-tolerated underwriting standards, an important ingredient in the housing bubble.”