Lesson for Robert Samuelson on the Financial Crisis: Just Because You're Stupid Doesn't Mean You Didn't Commit Fraud

There have been considerable efforts made over the last five years to convince us that the bankers at the center of the financial crisis were victims just like the rest of us. Robert Samuelson does his part in a column today.

The main line in his argument are a couple of studies showing that most of the top execs at the banks at the center of the crisis were themselves heavily invested in real estate. This means that they also bought into the housing bubble. Therefore there was no fraud, just...