Mortgage mess: Placing blame were it needs to go.

Here's an article from the usually right of center L.A. Times that places the blame for the mortgage crisis precisely where I said it should go in a previous post.

I worked closely with the mortgage industry over the past few years. I saw, first hand, how mortgage brokers and the banks underwriting their loans skirted the bounds of excess.

The incentives were to write as many loans as possible as quickly and as expediently as possible. The incentives weren't on the buyers. One mortgage company I worked with made cold calls every day to push loan products.

I was opposed to the bailout just for this reason.