The housing mess was a direct result of Democrap policies created by Carter, but implemented with full force by Clinton.
And even then the banks were smart enough not to follow the stupid rules UNTIL Andrew Cuomo (under Clinton) lit the fuse of this time bomb by SUING one big bank (for “redlining”) and WINNING a multi-billion dollar verdict.
All the other banks saw the writing on the wall and did what they were told, ESPECIALLY after Fanny Mae and Freddie Mac started buying these toxic notes thereby guaranteeing them.
And sadly, supported/trumpetted by George W. Bush.