Russ Roberts' testimony in front of the House Committee on Oversight and Government Reform is superb. Read it (it's short). Wall Street deserves plenty of blame for the financial crisis. But Washington deserves more:
When your teenager drives drunk and wrecks the car, and you keep giving him a do-over— repairing the car and handing him back the keys—he’s going to keep driving drunk. Washington keeps giving the bad banks and Wall Street firms a do-over. Here are the keys. Keep driving. The story always ends with a crash. I’m mad at Wall Street. But I’m a lot madder at the people who gave them the keys to drive our economy off the cliff.