The banks and other lending institutions were taken to court and forced to make bad loans. 0ur current president actually filed one of the cases. Janet Reno filed others. Leftist judges sided against the lending institutions and the rest is history.
Then when those loans went bad some folks who should know better, agreed with Obama & Barney Frank that this was all the greedy banks fault.
B.S.
So who forced them to break the real estate laws of 50 states and create their own with MERS and there by making it all but impossible for hundreds of thousand honest homeowners of ever getting a clear title? Who force them to cheat states and counties of legally require recording fees? Who made them package up these loans and sell them multiple times there by getting back the face value of the loans multiple times while still colecting mortgage management fees?