Bankers: Fair-Value Didn’t Cause Credit Crisis

"An interesting little survey released Thursday morning suggests that banking executives see lax underwriting and politics as the chief reasons behind the nation’s housing and credit crises. A survey conducted by Grant Thornton LLP and Bank Director magazine found that underwriting and a “political emphasis on increasing home ownership,” as well as a “lack of oversight of the mortgage industry” were cited as the top three causes for the current credit crisis."