Who is Responsible for the Fannie Mae and Freddie Mac Mess?

Indeed what is the short answer to the question - who is responsible for the collapse of Fannie Mae and Freddie Mac, and consequently and subsequently, the giant brokerage firms' illiquid positions necessitating more bailouts?

This Fox News clip from YouTube gives a three-minute account. Is this the definitive irrefutable answer, easily understood by us laymen?



Here's another classic:


You be the judge!