Many people blame irresponsible lending to people with risky credit histories for the current subprime mortgage crisis.
Economists are arguing vigorously about how much damage falling house prices and the subprime mortgage crisis will do.
American people and people all over the world should all reflect upon this American subprime mortgage crisis, the American consumption concept and the American financial innovation.
But, those models haven't sheltered the Banks from the subprime mortgage crisis that turned into a dislocation of the credit markets.
