I felt like the loans were portrayed more like the "Mark" in the scam rather than the guilty party. In the big picture, it ain't the loans as you say that were the problem. It was Goldman Sachs ability to do manipulate the game. Something that still has not changed.

The timing of the mark to market rule changes, interest rate hikes by the fed, bankruptcy reform bill and the Bush adminstration defeat of Elliot Spitzer's attempt to stop predatory lending in 2004 are at the center of this fraud. Not to mention fall in line with Paulson's move from Sachs to Treas.

Now we find out that not only were the traders making the big bucks, but regulators were getting bonuses for "innovation" as well.  Of course innovation on wall street means stealing so.....