Bank Exec Blames Federal Regulators For Fiscal Crisis

In the aftermath of the financial crisis, Wall Street executives tried to deflect the blame onto various culprits  –  government-sponsored enterprises like Fannie May and Freddie Mac for keeping interest rates low, consumers who lied about their credit history, or annual income. But Michael Lewis, former CEO of failed bank IndyMAC,  isn’t blaming consumers or investors. Lewis, who has been accussed of fraud and misleading investors, is pointing the finger at regulators. Louise Story,  Wall Street and financial reporter for  The New York Times, wrote about the story for today’s paper.