Culprits? The culprits in this are the grievance-mongers who accuse lenders of redlining and denying loans to high risk borrowers. Responding to accusations of racism, the lenders made loans, bundled them up and sold them as REITs. It was a win win until — surprise — the high risk did as expected and had a high default rate.
There ain’t no free lunch.
No, if the greedy lenders wouldn't have misplaced their professionalism, ethics and standards when lending money, we would have NEVER been in this mess to begin with.
Loan commission greed was a big factor.
Plenty of guilt to go around. Takes two to tango here.