It was government that was directly involved. Government sponsored mortgage companies, Fannie Mae and Freddie Mac, knowingly purchased toxic mortgages and passed them onto Wall St. Crooks like Senator Chris Dodd thwarted efforts by the Bush administration to regulate Freddie Mac and Fannie Mae while receiving sweet deals from Countrywide, a predator lender.<quoted text>
It wasn't your corrupt government that broke you it was your greedy capitalistic ideals....sub prime mortgage scam, failed to temper banks growth with ethical practice...but hey, no matter what I say or the evidence you will still blame the government.
A long read, but it explains how the problem goes all the way back to Pres. Clinton and how he changed the Communities Reinvestment Act.
Our corrupt government was directly involved and responsible. The SEC even lowered the capital reserve requirement for banks and lenders.
Instead of prosecuting these crooks, they got a government bailout. That's not free market capitalism, that's government corporatism.