The best summary of the causes of the financial crisis

The Washington Post's Sunday business section had a wonderful piece by Barry Ritholtz on the causes of the meltdown:  The Big Lie.
He could have made more of the long-running idiocy of the SEC that anointed the three ratings agencies (S&P, Moodys and Fitch) as the only "nationally recognized" sources of bond ratings, thereby requiring pension funds and insurance companies to rely on those ratings for SEC compliance, and at the same time taking the pension fund managers off the hook for failure -- "What else could I do?  I had to rely on the ratings agencies.  Besides, if I had to do more work, I wouldn't have been able to go home to my beautiful family and our house in the Hamptons (or Martha's Vineyard, take your pick) on the weekends."

Here's some charts he put up on his web site as of 11-20-2011. Ritholtz Charts