@edgarblythe,
The first thing you notice about your source is that it is opinion, and we all know everybody has an opinion and we all know what that is worth. It carefully avoids facts. The housing crisis was well under way during baby Bush's term in office. Like a finished building it had been under construction for years. The republicans always eliminate regulations, and the Bush Family had already done a similar thing with the Saving and Loan industry. Mortgages were combined to make investment instruments. A typical bundle had hundreds of individual mortgages. The banks rushed to sell mortgages and then they sold their mortgages to big banks. They no longer had to worry whether the loan could or would be paid back. They sold a $500,000 mortgage to migrant
farmer who picked strawberries for a living. The bank got their money up front.
Of course, the investors who invested in the bonds were swindled but that is what happens when you eliminate regulations.