On the Fact that Even Though Traditional Mortgage-Lending Practices (Sizeable Down-Payments, Solid Borrower Credit Histories, Accurate Income Documentation, Sufficient Income to Make Regular Payments, etc.) Had Proven to Be a Tried and True Policy for Decades and Decades, Morons Ranging from George W. Bush to Bernie Frank Couldn't Leave Well-Enough Alone and Took to Tinkering with Those Established Practices (HUD Ultimately Lowering Fannie and Freddie's Goal for Low and Moderate Income Loans from 30% In the 90s to 56% by 2007) and the End-Result Was Millions of Shitty-Quality Sub-Prime Loans that Couldn't Be Paid and a Damned Recession

Of course the scariest aspect of all is that no one has seemingly learned the proper lesson from this, instead of seeing the financial collapse as a function of government fucking-up (and, yes, the Fed artificially leaving interest rates close to zero for a year was also a factor - no doubt), the politicians saw it as a problem of NOT ENOUGH GOVERNMNT (regulation being the term that they prefer and it led to bullshit laws like Dodd-Frank, etc.)!!! Not enough power in their hands, in other words.