Good explanation. He didn’t mention Democrats like Frank and Dodd who are also to blame. But the larger culprits are Wall Street, bankers, criminal mortgage makers like Country Wide. Minority house flippers are small potatoes
When I worked for Washington Mutual Home Loans policy division, 2005-2006, there was tremendous envy/admiration for what Countrywide had been able to do. Everything management focused on was based on matching or beating CW. Subprimes were going to make us all rich.