Congress is lining up the list of suspects to assign blame for the financial crisis. However, all of the obvious suspects — the Fed, Fannie and Freddie, mortgage companies, banks and borrowers — have been players in the mortgage market game for years. Why is there a crisis now? Perhaps it was because they were playing by a new set of rules. To make sense of real world events, economists commonly study the interactions between people or groups through the lens of game theory. Many may be familiar with game …
