Pretty much everybody did it including the federal govt.
Everybody did what?
creating and trading in bad loans.None of that happens if the government via Freddie and Fannie didn’t lower standards to get mortgages.
What GS and other firms did was trade in loans that were for all intents and purposes initiated by the government no matter who wrote them. You realize if the loans were not made then the banks would have been fined for not making them?
But i suppose you did know all that?