I disagree. There would be no crisis without CRA and Freddie and Fannie. Every American does not deserve a house and the government should not absorb all the risk. Overregulation is the problem
And we’re in the process of doing the same damned thing again.
Bingo.....
1976, peanut head signs the CRA into law
1996, slick willie strengthens CRA forcing the mortgage bar lower
2006, Rumblings in the Bush administration that something needed to be done about the number of bad mortgages, and the enormous market in derivative trading (Oh cr4p, what have we done)...
2007-8, crash boom, the fruits of two donkeys rots and the Bush administration is blamed.
As another worthy said here.....”...we’re doing it all over again...”
KYPD