I would make one minor emendation to your spot on diatribe. While I think DC as a whole does not bear prime culpability, Greenspan does. He kept creating the money that made financing this debacle possible.
Trace Fannie and Freddie back to their origins, and then tell me that the Feds did not have a big part in this debacle.
Fannie should never have been allowed to be created, and should have been dismantled after the depression when there was an opportunity to do so. Freddie then would not have been necessary, and in any case never should have been created in the first place either.
This is what happens when government interjects itself in what should be private markets, where EVERYONE who invests takes PRIVATE and personal risks...this is what inevitably happens to entities like “GSE’s” (government sponsored enterprises) where risk is assumed by the deep pockets of the U.S. Treasury.