the right wing wants us to believe lazy middle class workers are
behind the collapse of the housing market.

sane people always knew it was wall street. now comes investgative
reporting showing how wall street created artificial demand for its
collateralized debt oblgations, expanding them from 1 trillion in 1997
to 62 trillion in 2007

they simply bought and sold the CDOS between themselves, then pitched
this demand on the open market:

http://www.propublica.org/article/ba...nancial-crisis

As the housing boom began to slow in mid-2006, investors became
skittish about the riskier parts of those investments. So the banks
created -- and ultimately provided most of the money for -- new CDOs.
Those new CDOs bought the hard-to-sell pieces of the original CDOs.
The result was a daisy chain [1] that solved one problem but created
another: Each new CDO had its own risky pieces. Banks created yet
other CDOs to buy those.

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the right wing, believing that rich people are next to god, won't
believe this. but the objective facts show that it was WALL STREET,
NOT MAIN STREET that trashed this economy