America to Blame ?

LNR does not agree with Obama or others around the world who are blaming America for their involvement in the financial meltdown. The banks of those countries that purchased exotic securities, knowing full well that America’s real estate market (which underpinned the exotic securities) was a hyped up speculative bubble have 100% of the blame on themselves. Can you imagine what other countries would have said if America blocked them from buying these lucrative securities for the past ten years ? These banks knew about the bubble yet for short sightedness, continued to buy exotic securities- they- and no one else, especially America, are to blame. If you play with big money in hot speculation, you are taking a risk and experienced financial people know that. America blame- ZERO.