Mystified by recent market ups and downs, including the "flash crash" as rhyme-loving media organizations have dubbed it, regulators are pawing desperately through trade data, hoping to find a culprit to pin blame on. See: Regulators Dissect Trades, Searching for Cause of Plunge
The continuing bull market in blame-finding, fingerpointing, and scapegoating may surge in the near future with charges against Morgan Stanley, say AP and WSJ stories (and a Reuters report on the WSJ story) on the matter published today.
So far, repeal of the Glass-Steagall Act, the Community Reinvestment Act (CRA), low Federal Reserve interest rates, greed on the part of subprime homebuyers, Congressmen who trade on inside information, NY Fed directors who bought Goldman Sachs stock while still acting in their official capacity, and other angels and angelic acts have been omitted from the search for culprits.
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