Here's two interesting perspectives on the current financial crisis. Both articles spread the blame around -- both administrations, the Fed, Wall Street and Congress.
- Alexander Cockburn writing for CounterPunch.
- In the Washington Post: Calling Out the Culprits Who Caused the Crisis
UPDATE: Contrary to positions put forth in the two links above is this post from Megan McArdle. She shoots down the notion that repeal of Glass-Steagall is a root cause of the current crisis.