If Everyone's Finger-Pointing, Who's to Blame?

The article examines the wave of litigation which has hit the financial services industry in the wake of the crisis created by mortgage-backed securities and the decline in U.S. housing prices. The lawsuits involve almost all the affected parties, from individual homeowners to leading banks. The issues involved are complex, but basically relate to how much lenders told borrowers and investors about the risks in loans and securities, and how much they were required to disclose.