They could have shut the door on mortgages, but once the banks started playing with derivatives, it was only a matter of time before they took everybody down with them.
Yes, but the fact remains all the funny business was started in the Clinton admin. No Clinton admin forcing banks to take on bad loans which resulted in shaky derivatives and securties, and no eventual financial crisis. Read Sperry’s book. Clinton is the arch-criminal mastermind in the whole thing.