Hi, Trout. Your reading comprehension leaves a great deal to be desired. I am not defending Trump, so much as saying that NO ONE on the face of this planet is/was as corrupt and dishonest as Obama ... There is a relatively large difference. Trump may be a scumbag .. However, THERE HAS NEVER, and I pray that there never is again, A BIGGER SCUMBAG THAN OBAMA.

Actually, the "housing crisis" did originate with legislation. It commenced during the Jimmy Carter administration . NOT placing all of the blame on Carter, the House and Senate passed the legislation.

During the Clinton Administration, his AG and the DOJ threatened law suits and federal charges against any lender that did not make loans in certain areas .. or reduce their underwriting standards.

The banks fought this tooth and nail, however, they power of the DOJ .. even banks cannot fight that.

However, that is not really brought about the crisis. It was the loosened restrictions .. like NO restrictions by Fannie Mae and Freddie Mac. If you will recall .. if you watched, or read, about the hearings .. wherein The House wanted to have those institutions go back to their earlier, more restrictive, underwriting .. Dodd and Barney Frank, both ... as well as many others, called those that desired a return to earlier standards RACISTS .. they did not just intimate it .. they, on the floor, called them that actual term.

So ... to package mortgages and to actually have a market to sell those mortgages .. the purchasers demanded "complying" paper .. That, for most investors, meant that ninety to ninety-five percent of the basket had to be "complying" paper .. Fannie or Freddie guaranteed.

So, slip in the subpar .. around 10% to each batch .. seemingly a reasonable risk .. However, when the "compliance requisite" had dropped so dramatically, it may as well been ALL non-complying subpar crap.

Between 2007 and 2011 .. I purchased, with cash, several single family residences .. all in nice neighborhoods and all pretty decent properties ... not small sh-t boxes .. all of them were in decent suburbs ..

They were all federally guaranteed properties .. Almost all of them were totally trashed ...

You get a little curious on a lot of these .. so, I looked at the photographs of those properties, prior to the foreclosed owner's purchase .. most of them were in need of updates .. kitchens and baths from the eighties and nineties ... but .. they were good looking homes.

When I bought them .. walls kicked in .. vanities ripped out .. and hammers taken to flooring and cabinetry .. You would not believe the intentional destruction perpetrated... My thoughts were that even the basest of an animal would not do this.

Then, you look at public records .. seven of the houses that I purchased .. had made no down payment ... and, yet they hit the compliance level for FNMA. Now, this has nothing to do with the FNMA part .. but .. out of the seven with NO downstroke ... three of those people had NOT even made their first payment.

As much as I despise banks, investment banks, and lending institutions .. No reasonable, logically thinking person, can blame the banks for FNMA compliance regulations and their underwriting.

Oh, and in closing .. no need for you to stand down. I find it rather amusing how you humiliate yourself. Please continue.