The financial storm that has rocked the world began brewing in the US when congress pushed the idea of home ownership for all, propping up those who couldn't make the down payments.
Deregulation and printing money non stop were the start of it. Then the banks over lent to anyone who wanted it, and the whole market was biting off more than it could chew, not just Fannie and Freddie.
This problem took bipartisan efforts for several decades to get where we are today, and blaming one relatively powerless section of the economy is letting off the banksters and politicians who truly made it happen.
Sorry for the rant. but it needed to be said.