Why not before? Banks and investors are operating under the laws and regulations set up by these government criminals. Government is the root cause of most of the problems yet never have to answer for their failures.
Banks were under no gov't decree to give out no income/no docs loans to people with bad credit. A good friend is on the board of a local bank and they never gave out those type of loans and they are doing great. They required at least 10% down and did not offer any interest only loans etc.
The problem was banks lowered their lending standards and gave loans to people that did not deserve them. The idiot people who took out these subprime loans have as much fault if not more.
again it was greed that caused this mess. The faultI have with the gov't is they should have stepped up and stopped these stupid loans back in 2003-2006 when there were many anylyst saying there was going to be a huge problem with them in a few years.