There is a very good movie about the 2008 sub prime collapse. It is called, The Big Short, and one of the stars is Steve Carell.
I can remember all sorts of scams going on back then. Banks would advertise on tv 100% loan on your home and all you had to do was pay the interest. Then an illegal would buy one, sell it to his friend for more, buy it back for more, etc. Eventually the bank would say no, they would default on loan, and move back to Mexico with lots of money.
President Bush tried to warn us but democrats tried to make it look like he just didn’t want poor blacks to own a home.