Is Barney Frank Responsible for Economic Crisis?

I haven't posted much on the economic crisis because I don't feel like I understand it enough. However, I've heard over and over again that responsibility for the economic crisis rests entirely upon the shoulders of Sen. Barney Frank (D-MA).

I found a press release on the website of the House Financial Services Comm. where Sen. Frank gives his side of the story. He presents facts that should be easy enough to check. He end with

“The Republicans would have you forget all this,” said Congressman Frank. “They want to distract people from understanding the real causes of the crisis so they can further block real reform. This is cynical, partisan politics which will weaken our ability to prevent another meltdown in the future. These attacks may seem innocuous, but in the long run they will hurt ordinary Americans who are already suffering.”