WHO IS THE CULPRIT FOR MELTDOWN ???

Perhaps nobody in the civilised world would answer the question of mine now.
who is the Culprit for financial crisis of the world? Perhaps, the financial mayhem was created by the greed of civilized world, educated world , innovative world and by financial wizards initially. The system went on merrily and every segment made profit out it. Banks made money, brokers and agents made money, insurance company made money and most importantly investment banks made huge money out of thin air. Knowing it well that poor creditors would not be able to sustain, in case of road block some day, Financial experts and intermediary preferred to close down their eyes for greed had over taken them.

But what regulators were doing? What rating agencies were doing ? How did the rating agencies gave Double & triple AAA ratings. were they blind? or did they fail do their research? or were they looking other ways? why? Is it intentional? or were they incapable? In case they were incapable they can be sacked but if it is intentional then they should be penalised for criminal breach of trust. Do not investors agree with me?

One of the economist has asked the question is this a case of suicide, accidental death or murder by the financial jugglers ? According to me it can be a suicide. But more likely it can be a perverted act of destruction of a system due to greed which brought prosperity to the world of business. It is a kind of annihilation out of aggression. People now will lose faith on the system. World's monetary system shall have to be perhaps rewritten! Why rating agencies are not hauled up for their failures. Why banks started providing mortgage to doubtful persons ? Since when business of finical institutions have become charity ? We know all business enterprise need to take care of the society and they should earmark fund for upliftment and creation of value. But should any business organisation is allowed to
sacrifice their corporate objective just to make additional money out of thin air?
Why after providing mortgage to weaker section of people without co-lateral intermediaries were allowed to issue derivative instruments which had no basis. Is this work of sound financial judgement? Were regulators sleeping?

It is now proved beyond doubt that the American regulators were aware of the highly risky bubble since the end of twentieth century. But connected persons kept it under the carpet. Can Alan Greenspan deny that he never knew of the great storm that was going to blow up financial edifice of the world ? At least some of us would not believe it. Why the present Treasure secretary had not helped Lamond Brothers when it approached for help? Why did he take so much time to realise that entire financial system was in peril? Cheer inefficiency or he could not dream of such a situation.
Perhaps the world would never know who was the real culprit. After few months surely business cycle will turn around and situation will improve. But how people, who lost out their life's savings & pensions without their fault, would regain wealth & more importantly the confidence on the financial wizards, who innovated the system of profiteering, but was not held responsible for the mayhem. Should these people go unpunished? Only time would reply!