Market participants are trying to shift blame away from themselves as the subprime market continues to become unglued, reports BusinessWeek.com. Rating agencies, hedge funds, lenders and homeowners all deserve blame for the current market environment – yet nobody is being held accountable. In the end, accountability may come down to litigation. “Ultimately,” says attorney Jacob Zamansky, “Wall Street must be held responsible. It facilitates these loans.”
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|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||4,755||19||11.75|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||65,702.99||205||11.68%|
|3||Wells Fargo Securities||55,583.74||178||9.88%|