While the political cheering leading goes on, you might want to read these two articles:

Subprime Obama

There's been less emphasis from the Obama campaign on the really dysfunctional role of the financial industry in the subprime mess," says Josh Bivens of the Economic Policy Institute. "Edwards and Clinton talk much more about regulation of the financial industry going forward, and to the extent that blame is placed, they tend to place it on the lenders for steering people into loans they couldn't afford.
Obama's disappointing foreclosure plan stems from the centrist politics of his three chief economic advisers and his campaign's ties to Wall Street institutions opposed to increased financial regulation. David Cutler and Jeffrey Liebman are both Harvard economists who served in the Clinton Administration, and they work on market-oriented solutions to social welfare issues. Cutler advocates improving healthcare through financial incentives; Liebman, the partial privatization of Social Security

Secondly, a NYTimes Article that claims the reason the the mortgage crisis has happened is people are just irresponsible it has nothing to do with predatory lenders. So what about yet another rude corporate economist writing articles in the NYTimes, trying to blame Americans while they rob them blind...
oopsy, he's Barak Obama's economic adviser Austan Goolsbee