It could be that simple but I'm not entirely convinced. The Dims in particular had to know this would all come to no good; in fact, would probably eventually send financial markets into a tailspin. There should be legislators and regulators, along with a few Wall Streeters serving hard time as we sit here typing this but since it was all in the name of social justice, well...
After the names of the political Elitists are all exposed, We The People must ensure that they “never” get elected to anything in their lifetimes ever again.
It is up to We The People to DEMAND an investigation into this reprehensible corruption against the American people and those not yet born. We must DEMAND all involved be exposed and do prison time until their end days.
I suspect that the majority of politicians do not think much about the future past the next election.
That ‘home ownership for all’ might tank the economy, I believe never occurred to most back in the 1990s.
And you are wildly overestimating their intellectual capabilities and economic knowledge when stating that they “had to know this would all come to no good”.
There were plenty of Republicans who initially thought this was a good idea, too, until the Democrats began using Fannie Mae as an extension of the Democratic Party.
Are there a core group of socialist progressives within the Democratic Party who would use this program to turn it into a Cloward/Piven opportunity and bring the government down?
Yes, without a doubt.