[who are the primary cause that this could occur.]
Human nature - predictable and exploitable human nature - is the cause that this could occur.
Thus:
"TO SECURE THESE RIGHTS, governments are instituted among men"
A Republic is a system, of governance characterized by the Rule of Law. When the Law fails, the Republic fails --- and if the American Republic fails then government Of, By, and For the People - fails.
FReepers know that kind of failure is simply not acceptable.
Ah yes, the rule of law. Curiously absent in our country in a lot of instances, especially during the financial meltdown.
Human nature is right on the money too (no pun intended) - it’s amazing what most people will do for a little power and a little money. Even so-called good people’s principles fly right out the window.
Certainly you are correct.
However, the same human nature was inherent in Americans before the misbehavior, and did not occur in housing until the leftist/Federal enforcement of CRI without regulatory oversight.
That act effectively punished responsible banks for responsible lending practices, and rewarded irresponsible individuals, speculators and manipulative associated organizations.
Overall, human nature is responsible, and the rule of law is the best control of the bad parts of human nature. I was addressing this particular housing/banking fiasco, and the primary cause, which was to flip the rule of law to enforce the irresponsible and punish the conservative. Without that action none of this would have happened.