“Lesson 5: It is also a movie about a massive failure of government.
As the movie makes clear, government regulators had no interest prosecuting fraud, even when the protagonists put the evidence right in front of them. And the government’s indifference continued, even after the facts were made public.”
That’s because they would have had to go after Barney Frank and a ton of Democrats and their supporters at Fannie, Freddie and other institutions making a fortune off of the imprudent loans mandated by the Community Reinvestment Act.
And the irony is they still blame the situation on George W. Bush, when his administration was trying to rein in this corruption and was blocked by Barney Frank and others.
https://www.youtube.com/watch?v=GkAtUq0OJ68
Here is audio from a Bush speech where Bush is demanding home loans for unqualified minorities. This was just a couple of years before the epic housing crash.