Thank you... People, the general public, always want to point a finger. But everybody out there that purchased ANYTHING they could not afford (Home, car, fancy shoes) for anybody that hired an illegal immigrant (not paying taxes) to mow their lawn or watch their children, to anybody who always bought their durable goods at a mega store, that does not pay health and welfare benefits to its employees, there is culpability. (I think Anderson can remove himself from the list – I believe he can afford to purchase anything he really wants. Ha ha.)

How about adding George W. Bush to this list? Lets see if CNN has the guts to do that! Yes, the people - me, you and all of us-bear some responsibility, but 'ATTITUDE REFLECTS LEADERSHIP" or lack thereof. From an administration that fostered spending, spending, spending, home ownership, home ownership, home ownership.....the people followed the edicts of the leadership! Our debt is also associated with the enormous interest rates that the American people have been paying on credit cards. The financial institutions have flooded the market with credit and encouraged this indebtedness. Yes, we are all in it together and sure enough, this is the next bomb to hit.

my guess is George Bush will be the magic #10

Huh? I'm a #1 culprit? How insulting to me and everyone else out here who bought a house they could afford, payoff their credit cards at the end of the month, left any equity they have created in the bank, saved some income for a rainy day, and most importantly–vote Republican.

Unfortunately the "collective" mentality means that we get the sharp end of the stick. We'll still payoff our mortgage while others get a reduction in their interest rate, and god-help-us, maybe a reduction in principal. We saved only to see our 401K's value plument, and a 25% tax bill on interest earned on our savings account.

And no Barney, Chris, Maxine, and yes even Barak, on the list? I've been around long enough to get that sinking feeling again–that only the responsible American taxpayer will be hunted down.

Don't point your finger in our direction. We (my husband and I) have never owed a debt on a credit card, paid our home off in ten years and have lived in the same home for over 40 years, paid cash for every car we bought, (can't afford it don't get it!) and now live on SS and our savings. All this from working in the oil fields and offshore in Louisiana and spending half his time away from home....... There are some responsible people out here that don't need or want the blame for the I want, I gotta have, people out here. We have never been jealous of the Jone's and their greed. We live within our budget and will continue to do so.... even when times are hard.

"US"

I knew that you all would eventually point the finger at the public. And it is rightfully deserved! I had to laugh last night when I saw it. You do know that you all will get some majorly nasty emails over this one! And the main ones who will be mad will be the ones who went out and bought a house, leased a car or two, and lived way beyond their means until they went belly up. They'll be the maddest at you I'm sure for pointing out their lack of self control and willingness to push past the limit where they couldn't afford it.

Cindy..Ga.

I will accept responsiblity for any of my actions that have contributed to the "collapse". I cannot believe though that your list does not include President Bush, the willing perpetrator of reducing government oversight. Why do you choose not to about the 4000 pound elephant (aka Republican) in the room. Actually I think you'll find an entire herd of elephants, and probably some donkeys as well.

Hey Just heard AIG had 47 trailers worth of Herman Miller furniture delivered to them. THey told the trucker to hurry up and deliver the goods and get out quick.

So why are we bailing them out. THey continue to take our taxpayer dollars already spent $440,000 on fun and now they order
47 trailer truck load of furniture. Gov't should stop anymore money
going to these crooks.

CONSUMER BE AWARE, OUR MONEY IS BEING STOLEN FROM US FROM THE BANKING INDUSTRY PLEASE PAY CLOSE ATTENTION TO YOUR ACCOUNTS. FIFTH 3RD BANK STEALS FROM THEIR CUSTOMERS.
My name is Kimberley and I’m currently resident in Columbus, Ohio. I and my son are both unemployed. I have an account open with Fifth 3rd bank. The Office of Unemployment Compensation makes a deposit into our account for my son in the amount of $155.00 a week. (He is a student) on his way out to school every Tuesday morning he checks his account balance to make sure his funds are available for him. On 10/21/2008 he checked his account and his unemployment was available to him. He went and made a few purchases on that day He was charged an overdraft fee of 37.00 on 10/22/2008 for a transaction that he made on 10/21/2008 that gave him an account balance that should have covered the charges . What I would like to know and the question I would like to ask both Barack Obama and John McCain.. How will you protect us from this kind of abuse from the banking industry that seems to be stealing from their customers I guess the bail out wasn’t enough I guess now they have resorted to stealing from their customers.

Kimberley F.

I don’t know if anybody is going to read this but here we go.
I would like to ask about the business tax, and about the claim that in the united state businesses pay as much as 35%... is that a rumor or a fact…
I even hear that there is so many loop holes that business use to minimize their taxes that many big corp. hardly pay any taxes

I resent being blamed for something I did not in any way contribute to. We have never been in debt. Credit card companies are very irresponsible sending cards to those who may not have any way of paying, college students for example. For people who suffer from a lack of responsibility, the lender should be responsible about backing the loans made. As many lenders have been totally without any responsibility, the taxpayer and the consumer must pay for the wanton irresponsibility.

Your Culprits of the Collapse series was an important public service by drawing the attention to those individuals who contributed in major ways to the dire economic situation we are now in.

I strongly encourage you to re-package this content (with perhaps a few more culprits?) and have it as an hour-long documentary that can be replayed several times in the next few months as the turmoil of the Presidential campaign dies away and we are all left "holding the empty economic bag" in the months and years ahead. The scams, the lack of fiduciary responsibility, the greed and outright arrogance needs to be highlighted and not forgotten. As unemployment rises, credit needs unmet, people on the street we need to be reminded of the excesses. My grandfather said that if I ever decided to steal to "steal big" - because you seldom go to jail. Perhaps this time it should end differently.

I wish we still had the public stocks around where the rest of us could stand around and humiliate, ridicule, taunt, and show disgust for their actions which have hurt all of us needlessly. A hard-hitting documentary repeated on TV may serve the same purpose.

Crimes of this magnitude can not be excused or papered over. Only by keeping the memory alive can we assure that others won't follow in their footsteps too readily. Some behavior cannot be excused.

Good job on the Culprits of the Collapse but don't you think the media ought to be on the top 10 list?

Great Job with the 10 most wanted.

It would have been nice, however, to make the caveat on the "You list" that many families are filing for bankrupcty not because they tried to live beyond their means in a bigger house and with a leased car but just because they were swamped with medical bills. Unfortunately, there is a large majority of those (if you think that 45 million have no insurance). By blaming all of US you are just diffusing a severe problem that this country is experiencing and buying into the rhethoric of this admnistration and of the 9 most wanted. Blame the poor for being poor and stupid (and for getting sick without insurance).

OF COURSE! ITS...........US! We, Americans, have been living "high on the hog" buying fancy purses, keeping up with "Sex in the City"..... keeping up with the Joneses.......... for years.

I recently heard on NPR Radio that 85% of Americans would be bankrupt TODAY if they lost their jobs!

Disturbing! But its easier to deny, live in denial than face the TRUTH.

Its easier to blame the government, when we too, had a hand in the "cookie jar".

Thank GOD, that our family has been frugal, that we have taught our children to have 6-8 months of salary in savings for emergencies.

America will wake up!

Mr. Cooper, please keep your guilt I don't care for it. In that government has refused to keep the base wages (minimum wage) at the same level as production or inflation for the last 40 years (1968 was the highest year so far) why should we feel guilty? First we have to send our wives to work to keep up. Then we take two jobs. Then student loans for our kids, thus mortgaging their future. Then we take easy credit to pay off the bills. All so that the "employers" can make more profit. Our own government has been waging a protracted class war for four decades. Keep your guilt, I don't want it.

I completely agree we the consumer are a huge part of this collapse. Nobody had to take out outrageous loans to buy a house, car, etc. Luckily I listened to my parents and have zero credit card debt and actually do have not one but two savings accounts. I also bought my car 7 years ago with the intention to drive it until it until it's no longer feasible to have it maintained/repaired. It's time we all start reining in our spending. What good is a nation that has zero liquidity?

I understand why you named “You” as a major culprit of the collapse and that we, in general, are responsible for this mess. However, I’d like to speak for some of us who live within our means, pay off our credit cards every month, put 10% of our salaries in savings, and don’t spend money on unnecessary things just to keep up with the Joneses. We’ve been financially responsible, yet we are also victims of a catastrophe that we didn’t have anything to do with. It’s unfair, but we have no choice but to muddle through and hope that things will get better over time.

Lilibeth
Edmonds, Washington

Hey Anderson
Thank you for the list of the TOP 10 shamless poeple.But what now???
Is there any chance to put them in jail????Did they brake any low and order???Probable not!!!They got their money and they will get their money.So if we dont whant to be the only one who are to blame for that crisis,we have to learn not trust this kind of poeple!!!!Take care about our cash money,and try to forget credit cards!!!!!!

A.C. why don't you name Barney Frank, Dodd, Rohm Emanuel and Obama to blame?

We the people are one of the "Culprits"?. The real problem is NO ONE stood up and said "you can't have a dream you can't afford or haven't worked for". The broadcast and entertainment industries pounded it into EVERY American that it was their responsibility to CONSUME and lenders followed it up, anything else was un-American. Those Americans who believed that there was no quick way (without work or saving) to achieve your dreams were treated as lesser people and are now left to pay for the short cutter's play.
As any interogator knows (abusers to), if you pressure, or belittle someone long enough they will follow the program. Constantly telling people (reporting and advertisements) they are not as good as someone with "this" or "that" will sooner or later make them abandon anything they learned about responsility or earning what you want.
It is human nature to compete and to belong and not one media outlet said "you are being manipulated for the consumer economy". They had no problem telling everyone how important it was for "you" to have everything that the rich or elite can have.
So yes, we are to blame. However the real culprits will never be called out, bad for business (ad dollars). No matter what happens with this situation the non-stop bombardment of people with BAD information about personal and civic responsibility will not stop until media outlets decide money (advertising) is not as important as the PEOPLE greed / want will hurt. Share holders will whine about profit$, but I believe most people will understand the "needs of the many have to out weigh the wants of the greedy" once in a while.

The following are examples of illegal insider trading:

The CEO of a company sells a stock after discovering that the company will be losing a big government contract next month.
The CEO's son sells the company stock after hearing from his dad that the company will be losing the big government contract.
A government official realizes that the company will lose a big government contract, so the official sells the stock.

Why are these CEO'S allowed to say i did not know? Martha Stuawart was found very guilty for her small misjudgement. The CEO'S of these companies always have information early. Are all their records so spotless that no legal action can be taken? CEO'S need more then a slap on the hand!!!

Even though my family has been very careful to only purchase what we can afford (yes, we have a nice house in a nice area but we COULD have bought more, drive newer [but not newest] cars), pay off our credit cards monthly and are careful with our money, I can accept a share of the blame for the current crisis. We COULD have saved more, but seeing our investments rapidly plummet downward, I'm glad we didn't! Unfortunately, the ones at the top will most likely skate away from this mess w/o any actions taken against them. The real losers (for lack of a better word) in this whole mess are those who are losing their homes, jobs, etc. But do you know who I really feel sorry for? The children in this. They have no idea why their lives are in turmoil, all they know is they are having to leave everything they know. I wish there was an easy solution but there isn't. I wish EVERYONE'S mortgage could be renegoiated down but that isn't going to happen.

What about the entire real estate industry? Greedy realtors played a huge part in this fiasco. I bought a house three years ago and had two mortgages for about six months. I was actually told by the realtor that most people pay 50% of their gross income for their mortgage. Luckily, I knew that typically 28% was the magic number, which I felt was too high for even two mortgages.

Realtors made tons of money by selling houses to people who couldn't afford them and deserve blame for this meltdown!

Uh uh, I have no mortgage, I bought and sold houses until I could pay cash for my current home. I pay my credit card bills when I receive them. I have no car loan as I drive a 10 year old automobile, I pay all utilities and insurances while living with and supporting three disabled people.

I lost 25% of my retirement savings to which I have contributed weekly for 20 years.

You cannot point the finger at me, not for one minute!

Liza,
I guess your guess was wrong. It has always been the people that should hold top the top spot in this fiasco.
George Bush was not the cause. You have to place Frank and Dodd way ahead of Bush. I am surprised one of them, namely Frank, is not top 10. You have to put half of Congress way ahead of Bush. Congress could have fixed it in the eraly days. Why not put the blame on the 95th Congress and Carter. They created the reinvestment act that passed under a super majority congress. That was the birth of outlandish loans.

I would put Dodd, Waters, and Frank well above the American public on your list of culprits. Dodd, Waters, and Frank were responsible for oversight and regulating and they have failed all of us miserably. And do they care? Absolutely not! Even if they are not re-elected, they still have their federal government pensions which have been protected from this huge financial crisis.

That's right!!!

Ultimately #1 is us, the American "voter".

We (or at least some of us) have put, in office, people that value their political party having and keeping "power", over what is best for our country.

Had the American voter, voted for more ethical people (don't lie or munipulate) that support a strong middle class in their policy positions, ie. a realistic foreign policy, world class schools, reasonable medical care, reasonable green technologies (includes energy and insists on reasonable worldwide worker/environmental protections), reasonable government oversight (regulations), etc., instead of people that were willing to use; manufactured wars, economic policies (less regulation and government interference), social conflicts (abortion/gay/gun rights), etc. to divide and/or scare people into voting their way, then our country would "not" be in the proverbal ditch.

Must I remind people, our government had to pass laws to stop "business" from using child labor and sweat shops?

For those of you that cry "socialism", must I remind you that we ride on roads and communicate in ways, that would not exist, except for our collective support.

For those of you that have enough annual income, that you are in the top 5% income bracket, I remind you, your income would probably be far less, except for transportation, communication, and a strong middle class buying your stuff.

Thankfully, technology gives us the opportunity to have more factual information, than the unethical, money hungry, power mongers have been pushing down our throats.

We all must learn more and vote smart!!!

I used to be in debt until I couldn't sleep at night worrying about it. Now I'm just a few payments away from being credit card debt free. So, I'll be credit card debt free in less than 6 months; have a mortgage I can pay for on one paycheck just in case layoffs; have contributed regularly to US savings bonds for the last 18 years; have always put the maximum allowed 15% in my 401K, save all year for Christmas so I'm not paying for it all summer. The one good thing about when I was in so much debt and worried about it – the lesson it taught my older children. They won't even touch a credit card – they use their debit cards and they know how to balance their budget. At least my poor example showed them what NOT to do.

Annie Kate
Birmingham AL

Nice to see Cindy from Ga wrote a "civil" comment for a change. Cindy, I have read your blog posts here for well over a year now. And, I'm sorry to tell you, I also have watched you, yourself and your comments DEVOLVE into hateful negativity and childish ranting and name-calling. Last Fall/Autumn of 2007, you were quite timid and tenative; now, you rant and spew hatred and vitriol towards the left/Democrats. Sorry to see your "true colors" come out after many months. Yes, it's easy to hide behind the cloak and mantle of anonymity where you do not have to face in person the object/victim of your hateful attack(s). There's no "consequences" for hating and attacking when noone can see you or engage you in person. Or, maybe there is some repercussion.....like after we die perhaps. We all shall see.

That goes for A LOT of you folks who blog here on CNN.com as well. All the hate, attacks, name-calling and negativity are.......DISGUSTING and SHAMEFUL. I am SO NOT PROUD TO BE AN AMERICAN with all the spiteful, hateful like all of you here who resort to hate and attack and name-calling. May spiritual being of your choice bless all of you and heal your mean-spirited souls...

Not me. I paid for my house and my car. I pay off my credit card every month, live within my means, save what I am able, and make no charitable contributions to ACORN.
And I make way less than $250,000...
Don't tax me or anyone who provides jobs to others to give to those living above their means who caused this mess!!!!

Sorry to burst your bubble, but I didn't have anything to do with it. Having bought a 3bd, 2/12 ba. house 14 years ago that I still live in-with an easily AFFORDABLE mortgage of $380 a month-, not owning a car for the last 25 years and currently having neither a single credit card or outstanding loan-other than my mortgage-to pay off, I'm afraid that you will have to look elsewhere for the blame. As a member of the working poor who pays cash for EVERYTHING, I resent being lumped in with the greedy bastards who leveraged a far better lifestyle than I've ever lived or ever will live and who are now suffering for it!

Alright I'll say it, "GUILTY" as charged!
xoxo

Ok so why isn't anybody talking about what Greenspan said yesterday. He has contributed to the meltdown TODAY!!!!! So he has commented on his contributions to the collapse by saying it was a Credit Tsunami??????? No wonder the overseas markets collapsed I can only imagine how deeply they feel about Tsunamis I can't even spell it but can see that! We need to be talking to the people that can fix this and Obama has a better handle than anyone including the media.

Well it's not me. But it is a lot of people who the rest of us are now bailing out. Reducing principal for people who owe more than their house is worth, even if they took cash out to buy toys. Those of us who were responsible get nothing. Guess we should have pulled all the equity out of our houses while the value was high. Those people are now being rewarded while the rest of us pay for it.

Is anybody as mad as me about Greenspan's response to his contributtion to the collapse by calling this a Credit Tsunami?!@#???? Wonder why the overseas markets are crashing? That is another emotional response and they don't like Tsunamis!!!!!!

I cant believe Bush wasnt on the list, his pick of 'experts' to run the financial portions of government – just what were they doing the last 8 years, just cheerleading? I dont think Bernacke has much blame, he inherited such a load of crap from Greenspan and probably couldnt believe the economy was that bad as he reviewed it.

When this all first came up, I was one of the people who suggested it was the American people because of their habits. Not all of us, but the ones who had to buy everything on the market because it was new and they wanted it. The ones that bought houses based on what the person selling it said they could afford according to their income. Those are the Americans to blame, yet those who have lived sensibly will be paying for it for years . My husband and I only bought what we could afford, live very beneath our income and hope all the retirement money we have save thru the years doesnt just disappear. This was interesting. A nice change from the usual stuff that is just repeated over and over ad nauseum on the networks. Thank You Anderson

DO NOT add my name to your top ten list!!! I find that very insulting for these reasons:
I don't have a house note, have owned four homes, and paid a house note on the first one only. The others were built or bought with cash from funds we worked for and SAVED. All of the homes are nice homes, in good neighborhoods.
I do not have credit card debts, my husband and I only have two credit cards, and we pay the balance due every month. We don't buy what we can't afford.
We worked hard and had a serious savings program. Most of the people we know have done the same. We aren't in debt, and don't plan to be in debt because we have lived within our means.
Don't insult those of us who have worked hard, own stocks and bonds, live in nice homes, have no debts, and are still working hard to stay prosperous. We are the backbone of this country, and we are insulted that we would be tossed into the sloppy business mix. NO, we don't deserve to be on your list.
The last name on your list should have been the congress. Barney Franks and Chris Dodd are responsible for there being no checking on Fannie and Freddie. The democrats and republicans should have been on your top ten list. You need to apologize to us. That was a slap in the face, and we don't deserve it.

Yup, I have a bit of credit card debt myself. Not as much as some, but more than others. I know that part of this is my fault, along with other Americans that did the same thing. I can pay my bills though and I am not getting any help doing so except for myself and my wife. We dug this hole ourselves and it's up to my wife and I get climb out of it.

It is horrible that those who have there head out of there butt and in the right place, like Lucy and Herbert among others, are sufforing becuase of this. There's nothing like being punished for doing a good job. Maybe some of this bailout money should go to them for not being so stupid like the rest of us.

October 24th, 2008 8:32 am ET

While I believe that we all share the blame in one way or the other, I disagree with “You” being #10 on the 10 most wanted list. Corporate greed has literally paralyzed this country. A large portion of our manufacturing industry has been outsourced to other countries. After a while it catches up–the workers of said manufacturer now have a job that pays less, has little or no benefits and offers no real promise of advancement. Affordable health care and pharmaceuticals are only a dream for many people. There are many who will go without daily meals this winter because of the cost of heating their homes. I could go on and on. It is a sad state of affairs for all of us. However, when playing the blame game, I feel that the American people are more of a victim than a culprit.

fine, you can try to point the finger at the public-but my mortgage is taken out of my checking first. last year i refinanced my home, during the process the bank was pushing a higher loan- an extra $22,000 sure this was extreemly tempting since i have live in a old 1902 farmhouse that i have been renovating myself for 15 years I HAD TO TELL THE BANK NO THREE TIMES i can not pay more then 600/month. in the end i borrowed $ 7,000 more than the anticipated amount......... just because they showed me that my payment would still be less than 600/month..... the mortgage companies need to be somewhere on the list

Anderson, I am a major supporter of your piece on the "Culprits of the Collapse" and feel that outing worthless executives and politicians is long overdue, however, I feel strongly that the last culprit "You" should be changed to "Most Americans."

As an impartial, honest, thought-provoking journalist, I'm sure you would take umbrage if you were linked in with the partisan reporting that has swept our nation.

It's painful to be one of the few honest, hard working, self-made, successful citizens of corporate america who did not live the life of cheap money and easy credit only to be denounced and grouped in with the endless hacks who did.

The instant gratification, gluttonous consumption, materialistic society that is America, is a shameful cesspool that needs to be eliminated; it should come as no surprise that sorry leadership creats a sorry state.

I turned on the radio on my way in to work today and heard REM singing: "it's the end of the world as we know it, but I feel fine."

Sums things up for me.

"How about adding George W. Bush to this list?" How about adding the Congress to that list as well? Incidentally, what party has controlled congress for the last few years? Democrats?

Educate yourself people! In the constitution it gives the CONGRESS financial and regulatory powers. Are we to believe that George W. Bush did ALL of this while Pelosi did nothing? If that is true then the DEMOCRATIC controlled congress is more lame and pathetic than possibly imagined!! Yeah!! we get more of the same then. So much for meaningful change.

By the way. How come Obama didn't say anything about the incompetence at Fannie and Freddie before their collapse?

Quit like a bunch of sheep following some shiny new shepard. Think for yourself.

You've got to be kidding me! Your list of the top 10 culprits doesn't even include Barney Frank? I absolutely agree that people who purchased homes that they couldn't afford are major culprits as are the banks and executives who were irresponsible and greedy in selling them the houses. However, as one of the leading government officials encouraging the practice of selling homes to people that couldn't afford them, Mr. Frank certainly earned a spot in the top 3 – if not #1. Not including him in the top 10 is absolutely incomprehensible.

Anderson,I think you should point the finger back to yourself because John McCain should have been among the ten most wanted due to his own admission of voting against regulations that caused this diaster.This is REAL STRAIGHT TALK MY FRIEND.

The CNN “Culprits’ list was a great idea, but it wasn’t carried out correctly! CNN didn’t get it right and the great majority of people that blog on this site need to get their information straight. So many people point to George Bush or the Republicans, the lack of legislation and several other factors. The reality is that the real seeds of this problem were bi-partisan in nature. Legislation that was proposed by Phil Gramm, a Republican, and signed by President Clinton, a Democrat, back in 1999 created this firestorm. Blame needs to be directed at former Fannie Mae CEO Franklin Raines and his decision to make mortgages more accessible to poor and moderate home buyers. These buyers did not have the economic means to purchase a home in the first place, yet they were given that “opportunity.” It was failed monetary by Alan Greenspan that flooded the system with cheap credit that made it that much easier for the American public the purchase assets that they wouldn’t have been able to afford under normal circumstances. The lack of oversight from members of Congress and the President fueled this problem even more. Combine these factors with conflicts of interests from members of Congress, Banking Committee person Barney Frank dating a key executive at Fannie Mae, and Christopher Dodd receiving favorable financing from Countrywide when he purchased his homes. Then factor in the greed of Wall St., executives at Countrywide, Lehman Brothers, Bear Stearns, etc. Then factor in the “new-age” American consumer that borrows more then he saves, purchases the Cadillac Escalade, the 3,000 sq. foot house, all without ever putting a single dollar down at purchase. Then when you can’t afford it, blame everybody else without ever looking at the main problem, YOU! Is anybody ever held accountable for their actions anymore? What happened to "old-school" traditional American values where working hard and being responsible was rewarded? It looks like everybody on this list was rewarded for poor behavior.

I do not accept the fact that I help to create this market downfall. The poor people did not use America as a store that was the republicans,and now that the poor is about to get some help with all that is going on, you want to put the blame on the people, when it should be on the CEO'S and the Repbublican in the Senate, and the House. This was all done under the First Bush term by John McInsane buddy Phil Grahm. God bless the Dems for taking this country back.

You've got to be kidding? The list contains only one elected official and he's been out of office for six years! Why aren't you calling out the the crooked politicians (democrates and republicans) in Washington? The time to do it is now, before the election so they can be replaced.

I'm disgusted with the fact that those of us who are responsible and pay as we go, end up paying the debt of others.

There is something strange going on here with these "culprits!" Did I see that blame was put on Gramm for pushing a bill, but no blame for Bill Clinton who actually signed this bill into law? As a matter of fact.... I have seen Bill Clinton participating in many of your "culprits" footage. What gives???

Second... Beezer homes??? How did a single home builder help bring down our finical markets based on a very small number of "exaggerated loan papers?" Yes!! Guilty of fraud, but a "culprit?" ..... Come on! What is your beef here? The numbers don't add up at all on this one!!!

Third.... These CEO's bare some of the blame here and should be pressed, but other factors play here also. First.... These CEO's were doing what they usually do......Trying to create share holder value and investing in the types of things that were generally safe and considered to be very secure. It's like walking....just normal.... safe and smart.... Been doing it for years!!! But.... This time these types of things were actually bad investments...... Why??? You really have to search a lot deeper than most in the media will go. Ask yourselves this .... Did all these CEO's set out to destroy their companies at the same time? Did all of them want to do harm to America, themselves, and their families at the same time? Is there any way that greed showed up and did this harm .... all the way across America, and back.... At the same time??? I think it's safe to say "no" to all of these questions. Something else happened! What could it have been? What could have caused all this at the same time? Well, when you talk about something this large it has got to have the Governments hand involved in a big way. Our Government has been pushing for people to be in homes since the Carter Administration. This effort has been led mostly by Democrats, but others have also been involved. A noble thing for people to have homes.....sure, I wish everyone had one. But how noble is it when they can't afford it? How much pain is caused when families are put on the streets and thrown out of those homes because they cannot pay the bills? At what point would it have been more noble if they were just told "no" in the first place, and asked just to save some more money first. Now we all bare this burden, and we must all feel the pain. A greedy CEO is a bad thing for some, but a stupid, self serving, worthless Government pains us all!!!

CNN should be listed along with all the other media outlets that have reported endlessly on all this stuff and made it all sound so normal. Where were the alarm bells?

When housing prices outstripped people's ability to pay for them because wages were flat – I didn't see the big expose' by the corporate media explaining that it was untenable and that is would have to explode at some point.

Where were the discussions of the stock market instruments that were and are a ticking time bomb?

CNN, along with the rest of the corporate media should point that finger directly at themselves and ask where were we when we could have made a difference? Why did we continue the cherade that everything was fine and normal, that the Bush administration was just another presidency, etc, etc.

Take a long hard look in the mirror, CNN, where were you when it mattered? Where are you now?

I remember the 70´s when all Latin American countries where in deep debt, because of easy money that came from loans provided by "oil countries" of the so called "petrodollars".

On that era was there was discussion going, that if those countries should pay said debt, specially if the lenders knew the debtors had a "no-paying" power. I think that discussion still in process on the so called "Paris Club" and some countries still in deep poverty and deep debt.

Interesting how story repeats itself. For Americans and the rest of the world is PAYTIME. So we will see in a few years most of people will over come this situation, but some others will stay in poverty and in debt.

I hope this time we can get to a conclusion on how much punishment should a lender get for giving bad loans? I think NONE, every body should pay its own debts or pay the consequences.

What I don't think is acceptable is that CEOs and corporations have cheated their investors regarding the risks they were taking with their moneys. And my last question: DID ANY ONE KNEW IT WAS COMING IN?

Your omission of the obvious roots of the collapse in government policies to encourage lending to the "undeserved". Barney Frank, ACORN, Maxine Waters, FANNIE MAY bribes to Chris Dodd.

Your agenda is transparent and partisan. Vilifying CEOs does nothing to solve any issue. We can vote out the corrupt left but unless we are the stock holders the CEO who operate within the laws are not our concern.

This is gravely misleading, debt of the American public helped bring down the financial system of the US and the rest of the world. Not correct!
Follow me on this, let say half of the population were irresponsible and borrowed too much, under the old way of doing business, this would have stressed and most likely, bankrupt, a few dozens banks. The FDIC would have stepped in and cleanup the problem. The result would not have threaten the financial fabric of this great country nor the rest of the world.
While you blame the public and identify a few (deservingly) culprits,
there so many other heads of institutions given a free pass like the rating agencies,
insurance, investment banks (GS, MS, all of them) and the Government
Please, please inform yourself on how this house of card was created.

This is a good book as any, Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve by William Fleckenstein and Fred Sheehan

George Bush is on a list of his own as the worst president of the U.S., the economy is part of that rating. I think most people already know that. The list of 10 culprits of the collapse is to show us who else is responsible for the mess we're in aside from Bush. Whether you like it or not we are also responsible for this collapse. If we weren't a nation so dependent on credit for the things we need and want, then maybe the economy wouldn't be where it is now. There are people out there who have paid all their debts and lived within their means but there are more people who live to spend, spend, spend thinking they have the funds to do that, little did they know. Maybe it's time to reevaluate our credit system and think of other ways to save and spend our money wisely.

SORRY CNN, but it's NOT me. I pay all of my bills on time. I have no credit card debt, only a mortgage, and only buy what I can afford. I agree with everyone else who has already posted the same response before me. Nice try CNN. Try to get it right next time.

Hi,
I was wondering if you were finally going to point a finger at the rest of us. We, the public, had a part in all of this too. This is a nasty wake-up call, but one we probably needed to get. I know I learned my lesson.

This is investigative reporting? What a joke. What about the role of ACORN and Congress in forcing banks to lower their credit standards? BTW, like most great Americans, I'm current on my mortgage payments – so don't spread my wealth around to cover up inept leadership and oversight of our Do Nothing Congress.

Dear Mr. Cooper,

I enjoy your show but strongly disagree with your view on the "collective guilt" of American's for this episode of unbridled greed and deregulation of our market place. No sir! Not all people are greedy, not all people spent beyond their means nor did they lie, cheat or steal to make a living.

This is not coming from the vantage of moral superiority, not whatsoever. We all have our short commings. I have known people who lost their livelihoods because they would not lie, cheat or steal, who were cast off because they were a constant reminder to those who were lying, cheating and stealing their way to false success that indeed their success was a horrible lie. And one which is now catching up with them.

All collective guilt allows is the opportunity for those guilty to escape accountability and punishment. Which you yourself have tried to ensure not to happen. I think you need to rethink the number ten spot and put someone who belongs there and not the "You" that you have.

Perhaps you should do a Ten Most admired for having the courage to be honest!

I hope you think about this and give it your consideration.

In Truth,
John-A;bert Dickert
Cincinnati,Ohio

Bravo CNN for having the guts to say what had to be said. Finally naming each and every one of us as one of the ten most wanted culprits of the collapse is exactly what consumers needed to hear long ago. It's high time we all start taking responsibility for our own actions and decisions in all facets of life. What are we teaching our children about being responsible Americans and human beings when we accept no blame for our own poor judgment? Let the buck stop here and America let’s grow up! Take some responsibility for yourself, your family and the state that our country is in on so many levels.

Wow! You're on to us CNN

It was us that laid awake at night dreaming of ways we could convince credit card and mortgage companies to spend millions of dollars on ads, marketing and lobbyists so they could assure us their financing schemes were "all the rage", non-predatory and part of the American Dream. It was us who suddenly grew brains by creating financial instruments such as CDOs and then sold them on the secondary markets as highly rated debt products. It was us who passed legislation to make bankruptcy more difficult and oversight of Fannie Mae/Freddie Mac more difficult. It was us who willingly and sheepishly watch your ads about which products to buy and how to attain lifestyles beyond our means. Shame on us!

Now it makes sense to me why we should give the poor old, dumb corporations more of our money. We duped them. They didn't stand a chance against our sheer and tenacity.

You better watch out... the next thing we'll be doing is bankrupting all these precious metal companies and reverse mortgage firms that endlessly advertise on your lil' ol' TV station. I'd hate to see us run Robert Wagner out of the good gig he's got.

JS – Houston, TX

Let me tell you what I think the reason is for the financial collapse. It's something that has yet to be talked about, and I fear will never be addressed. It is the foundation of our lending system and is at the heart of the problem.
In order to best illustrate my point I will explain it allegorically.... Two families walk into a bank looking for a $350K loan to buy a house. One family is middle class with 40K of debt in student loans and is looking to buy their first house. Together they make $75K a year. The second family is upper class, with no current debt, and is looking to buy a vacation home and makes $280K a year. The bank has decided to give both of these families a loan. The first family is considered a medium risk loan and will be give a 30 year fixed loan at 8%. The second family is considered very low risk and will recieve a 20 year fixed loan at 5%. Seems normal enough, because it is.
What we are not paying attention to is the fact that the first family is being charged more money than the second, despite the fact that they make less and will have a harder time paying off their loan. So the banking industry is knowingly making it more difficult for the first family to pay back their loan and taking more money out of the pockets of those who need it the most. We in turn see many of these families facing late fees and penalties and then increased interest rates when they have difficulty paying this mortgage on time when an emergency comes up. This makes it even more difficult, and often leads to the foreclosures we are seeing by the thousands. Until these practices are changed and we see both investors treated equally we will continue to see more foreclosures and a greater discrepency of wealth between the upper and lower classes!

As a responsible consumer I will share .000001% of the blame with the irresponsible ones, wait no, that is just way to much how about 00000000000000%.

Sorry guys there are people out there living outside of their means but all I have to say is, if the glove don't fit- you must acquit right? So I don' take offense and think the #10 culprit of our financial collapse was chosen right.

To all the responsible people out there, don't take it to heart, they aren't talking about you but perhaps one of your relatives, friends or coworkers, look around and you shall find a #10 whipping that credit card out though it is close to the max!

Oh this is good. So explain to me how I am the culprit? I didnt go out and try to buy a home that I couldnt afford. Take an adjustable rate loan. Borrow against the equity of my over inflated home value to go buy cars, boats, etc... I worked my butt off to stay afloat and put food on my families table. I didnt live beyond my means. This is great. First the government uses my money to bailout people who took on too much debt and now I am getting blamed for it!

Bush and Clinton and Obama and McCain and Pelosi and Reid should be on your list because they pushed FREE TRADE and voted for more debt and war. Bush must really hate McCain because he has made certain that Obama and his terrorist buddy Ayers will win the election by bailing out all his wall street cronies and crooks. Bush is a good used car salesman getting Nancy Pelosi, Barack Obama, Hillary Clinton, Harry Reid to bailout the wall street crooks by giving Paulson $1 TRILLION of taxpayer's money. I believe Paulson should be called ringleader of the Bush Bank Robber's gang. These bank robbers have placed a $63 TRILLION debt on American taxpayers according to congressional testimony in the past 2 weeks. Only the new democracies in latin america, Venezuela, Argentina, Bolivia, Ecuador, and Nicaragua will escape the coming world depression because they were smart enough to dump FREE TRADE and IMF and World bank.

I agree with all the names on the culprits of the collapse list except for one and that is Mr Greenspan. This has to do with INTENTION. He did not profit millions from decisions he made like these culprits have.
After all he would not have been the Fed chief for nearly 20yrs
if he did not make decisions based on what was in the best interest of our nation!
Joyce
Las Vegas

Oh... and btw VW is running a promo on their new car the Routan (and all their cars for that matter) with $0 down and a signature loan. I hope VW doesn't take anyone up on this.... we may end up having to bail them out too.

Okay, this is getting me mad. We the people were tricked, and lured into something we can't possibly known well of. We thought (for myself only here); that wow! since the interest rate was so low, seeing people with their monster home across the street and why not. We kept reading, and hearing on the "news" on a daily basis how it would be such a wasted of chance not to be in it. We were bombarded with messaging you need a home. No one from the credit lenders to banks and even the agents said this was a trap, don't get hooked into it. NO one stopped us, NO one came out to said...hey something stink, maybe because they're all just crooked thieves as those politicians and on Wall-Street, after all they do get commissions.

(You see, once the people get "smart" and realized they in a mind-control stated, ooohh look out!)

I don't know what kind of world you and everyone living in, but in our currently renting home. Things breaks down, and have broke down even when we did buy the top of line model. It an automatic an upgrades This and That just so you can finished your work, homework, or whatever. Starting next Feb. either we have to upgrade or left behind on our tv sets. I remembered we used to have a washer and dryer that last for years and years. Now if we're lucky, a few more years before it breaks down. Maybe, just maybe the superwealthy can distributes some of their money instead hording it, hiding it and sending it to some offshores accounts to fled from the I.R.S. never have to pay for taxes "The Cheating of America" by Charles Lewis and Bill Allison How Tax Avoidance and Evasion by the Super Rich Are Costing the Country Billions...Even if those fat cats can't spares some dollars, couldn't they be satisfied with what they got?.

All i'm saying is, this is a political issue, a social issue, and maybe a cultural issue that it must be looking into.

I had money down on Paulson being the #1 culprit. As head of GS he petitioned the the Gov't to allow increased leverage and sold these MBS's CDS's, etc to Pensions, SWF and Gov't across the globe. Now he is the person in charge to put the fire out!

We couldn't afford a house even with two salaries near 100K ea. We just saved. We don't deserve your finger. You and the top 10 deserve ours!

I missed the last one,but I refused to accept that I caused this. I had four different income when I purchased my home. I worked for the company that intially gave me my mortgage. 7 months after puechase the company that I had worked for for 10 years downsized and out the window went one income. One child graduated from high school and out the window went two income. I have manager to lose all income through no fault of my own. ver 2years unemployed with no hope insight. Mortgage sold to another company and required to pay $400.00-800.00 more a month with nothing coming in. I trully missed something here

Did enjoyed the segement

The public have been goaded into buying for the last 30 years.

Buy,buy,buy....Keep the conomy humming the leaders say.

It has become a habit they can't shake.

No one says save save save and save the nation.

Now we blame the people for being patriotic.

But you are doing a good job Anderson and I look forward to the other culprits that you will name in the coming days.

How about the financial media that keep talking up the market.

CNBC comes to mind. Watch it sometime. It is like a circus from 9 am onwards. Each segment trying to outdo the other and it is a party daily.

They are petrified that if the market comes down to its true level none of these so called "CNBC all stars..." will have a job.

They have done and continue to do a big disservice to the country.

I can't believe you are letting the rating agencies off the hook. These guys are the one's that told everyone the piles of stinking mortgages were AAA or AA credit. That is like letting an appraiser that comes in at 150% of real value off the hook. The rating agencies are culprit number 1.

You list a whole bunch of CEOs, a seantor that hasn't been in congress for six years, and us. You completely ignore the current congress with culprits like Chris Dodd and Barney Frank. What a crock.

Why are there no realtors on the list?

The obvious candidate is David Lereah, former Chief Economist for the National Association of Realtors (NAR). He was the tireless cheerleader of the housing bubble from start to finish. Many other NAR and local spokespeople come to mind, for example Leslie Appleton-Young of CAR (California).

But in reality, ALL realtors are collectively to blame as a group. Realtors were the ground zero of the housing bubble, and they deserve a very large portion of the blame. It is not just about the financial industry, it is about the Real-Estate Industrial Complex.

I suppose the Republicans would label my family "Joe Six Pack" and this is why I find 360 adding me to their list offensive. I have an education a husband, two kids and live the middle income existence we keep hearing about. I owe much less than my house is worth, drive cars that are over 7 years old, have no credit card debt and live within my means. Please don't assume all middle income earners are uneducated, in-debt losers. There are a many of us who are intelligent individuals that have simply chosen to spend more time with our families than at work.

I think Anderson needs to put some type of qualifier on his label.

Wow, the concept of identifying who is to blame so that we can reduce the odds of this repeating itself is a fantastic idea. I applaud CNN for attempting to do so. Unfortunately, CNN got most of the culprits wrong with "you" being the most ridiculous proposal. You cannot fault those that are playing the game only those that make the rules to the game. CEOs and consumers are just playing the game that the government has laid out. It is the failed policies of our government that has caused the collapse. While Capitalism is clearly the best foundation for an economy a complete Lasie Faire approach always falls short. The lack of regulation is the cause of our mess. Even Greenspan had finally come that conclusion. If the rules of the game were set up correctly then a balanced growth can and will be achieved. How could you possibly fault the consumer who is given credit while someone else takes on most of the risk? It is simply good business to buy a house with nothing down and let the bank take all the risk. Shame on CNN for not emphasizing the real problem to reset the mindset for the future. Maybe the media should be the #1 culprit in its inability to provide a legitimate analysis? History will repeat itself if appropriate government regulation is not put into place.

Once again CNN gives a pass to Barney (I had nothing to do with it) Frank, Chris Dodd, Chuck Schumer and the rest of those finger pointing doofuses on Capital Hill. Oversight? I call it no sight. They encouraged lending institutions to make all these risky loans to low income Americans that didn’t know what they were getting into. So who does CNN blame instead, the entire American populous.
I pay my mortgage every month and drive economic automobiles that are paid off or close to it. I work 50 hours a week and my wife does too. So go ahead CNN put the blame on middle class Americans that bust their but every day instead on the do nothing congress, that’s been run by Democrats for the last two years. What the hell, we’re just the ones that keep this country going, that’s all. Will the real journalist please step forward.

Congressional misfeasance resulting in the fraudulent misuse of tax funds should be at the top of any list. The implementation of new administrative rules for the Community Reinvestment Act in 1995, which essentially forced financial institutions to loan money to people whose credit worthiness was suspect, also played a significant part in the current financial panic.

Congress should call for a thorough investigation into this matter, but probably won't since the controlling party bears the brunt of responsibility in this entire collapse.

Right on!!! Thank you for having the guts to point the finger where it belongs. On those same lines, why don’t we reward those who sat on the sidelines during the last 5 years, and did not participate in the process of applying for 'No Document' or 'Stated Income' mortgages which they could not afford, instead of lending a hand to those who may have cheated the system in the first place?

Here is a better, fairer idea for solving the credit crisis:

Why not offer $400 Billion of low interest rate loans ONLY to those who did not participate in the ‘no doc’ or ‘stated income” loans of the last 5 years. This would represent a buying power of almost 2.5 million homes, which is more than half of the country's entire real estate inventory backlog. Given the average mortgage only lasts 7 years, the treasury can float a mix of 5 year and 10 year notes at a blended rate of near 3%. Take this money and offer 3% mortgages, which would be approximately half the current mortgage rate for a new home, and you will stimulate a mass of home buying like never before. As a country where we should reward those who are deserving and not bail out those who have misrepresented themselves, offer these mortgages only to Americans who have not refinanced, or purchased homes/condo’s during the last 3 years by utilizing sub-prime loans, ‘No Doc’ and ‘Stated Income’ loans.

How will this solve the crisis?

1. Home inventories would quickly diminish, as this potential buying force would be very substantial.
2. Home Prices would rise, especially with the low cost mortgages making home prices more affordable.
3. The overall real estate market sentiment would improve dramatically, and almost immediately, which would serve to quickly fuel the healing process of our economy.
4. Mortgage foreclosures would decrease as the home prices rise. In the cases where the current homeowners still can’t afford to stay where they are, there would be foreclosures. However, the massive pool of new buyers would gobble up these foreclosures and stabilize the pricing.
5. In effect, the new buyers, who have better credit , will replace the homeowners who cannot afford to stay in the homes they purchased which they could not afford. This will stabilize the prospect for our future.
6. Mortgage Backed Securities and Collateralized Debt Obligations, and related products, which are being held by financial institutions worldwide, would increase in value as the home prices firm up, fueled by this wave of buying supported by low interest rate loans. This would bring stability to financial institutions worldwide, and would free up credit.
7. The $400 Billion would reward the people who are not responsible, and would not cost taxpayers anything, because the money would be spent on housing where the buyers are quality buyers.

Thank you for having the courage to say this. Personally I think it was about time that somebody came out and said it. I, let me repeat that, I, do my own financial calculations and know what I can afford. I have no problem making the mortgage payment. I carry no credit card debt, student loans or even car payments. I live within my means. Unlike some of those that have responded and want to blame the President because “he” spends too much or doesn’t lead correctly or because they have high credit card interest rates or can’t help but apply for every credit card application that comes in the mail, I actually think for myself and know what I can afford. I don’t feel upset in the least that AC has the finger pointed at everyone because I know it is not pointed at us. Notice how many times I used “I”? AC and CNN had to include themselves and “everyone” for the simple fact that if they came right out and said what we the responsible already know there would have been a much bigger outcry then what there will be.

Wow. It wasn't long ago that I was name Person of the Year. Not I'm here caught red handed.

Anderson, How about adding a hedge fund manager to your culprit's list with regard to derivatives involving the mortgage market?