A friend of mine who likes to bring up misdeeds by democrats as proof that republicans are beyond reproach (I’m not sure how that works) told me that Chris Dodd is responsible for the accounting scandals from the late 90s to the present. I do not defend Dodd’s role in the problem but I do think there is blame to share. The story is actually quite interesting. A good synopsis of the problem and why it came to be was done by Frontline and you can watch it by following this link. If you can’t watch the whole program see at least chapters four and six.

http://www.pbs.org/wgbh/pages/frontline/shows/regulation/view/

Note: this link is no longer active, apologies.