Yes, it's bad populism to talk about crimes and then never bother to explain them.

There's nuance in explaining systematic failure, but not one that most people couldn't grasp if well written in a few paragraphs.

A lot of 'small bad decisions' at the loan level encouraged by an aggressive culture, a failure in ratings, and CEO's to mild to look too intently into the VP Retail Banking's mortgage profits ... and the whole thing can go sideways.

But it'd be nice if the experts gave us more detail when the talked about it.