Clinton started the community development act on that but it didn’t get going until George W. Bush started pushing it pretty hard which contributed to the 2008 housing depression
Much more complicated than that.
Clinton didn’t start it, that started in the early 70s, and HUD a decade before that which was based on other legislation going back to the 30s under Roosevelt.
Subprime mortgages were around before Clinton was president or the cra bill in 92 or so.
The banking lobbyists pushed for less regulation, not surprising. And they got it, also not surprising.
Most of the problem loans which caused the crisis in 2008, were made by lenders actually not covered by the cra.
I worked at a bank that was subject to cra compliance in the 80s and it required us to maintain records showing that we weren’t redlining or other discriminatory practices etc, as a local bank who served the community. National mortgage lenders were not under the same requirements, but didn’t really exist in any meaningful way
In simple terms, industry lobbies, find loopholes, take advantage of loopholes and people, take the quick money, screw the people, then congress has to close these loopholes.
Same old story and everyone loses except the crooks, especially in government.