In fact, Fannie Mae and Freddie Mac were government sponsored entities deliberately constructed to provide easier credit.
All this tighter regulation seems to have bought us is more corruption.
Forcing them to provide easier credit was indeed stupid. Allowing them to bundle risky loans and re-sell them, then re-bundle and re-sell the bundles, over and over and over, until nobody knew who owned what or what it could actually be worth is monumentally stupid, and that practice should be halted forthwith.
Ownership society.