By and large Clinton and the Democrats ARE responsible for the Subprime mortgage crisis.
The GSEs were key players in the run up to the 2008 collapse.
Fannie and Freddie who were exempt from paying State and Federal taxes, who were exem from SEC reporting requirements, ( all publicly traded companies have to submit quarterly reports to the SEC ) , who could operate with Capital requirements as low as 3 percent, who had a cheap and exclusive 4 Billion dollar line of credit straight from the US Treasury that NO Bank could access, who had a " AAA " status on all their debt were staffed by Bill Clinton Appointments.
From 1993 to 2000 he replaced MANY of their executives with appointments of his own, and appointed over half of their Chair positions.
These two GSEs, run and protected by Democrats right up until they were declared insolvent, were the primary consumer of Securities backed by Subprime loans and the Loans themselves.
They created the demand for Trillions of dollars in toxic and worthless securities and distributed Trillions of dollars of woethless GSE backed " AAA " securities throughout the Worlds Capital markets.
There was little to no oversight over Fannie and Freddie and the Democrats throughout Bush's Presidency made sure to keep it that way.
In 2011, the SEC started its 3rd investigation on the two corrupt GSEs. Apparently, at the time when these worthless securities were being spread out to banks all over the world, Fannie and Freddie hid over a Trillions dollars worth of worthless debt from.....well everyone.
Thereby manipulating the very markets that crashed and burned in 2007-2008.
Thats SECURITIES FRAUD, thats unprecedented securities fraud.
The combination of Clinton's fair lending initiatives, his 1995 CRA changes and his GSE appointments and GSE mandates created a bubble of systemic proportions.
In 2001 Bush called for Congress to Congress to create legislation that would include a 3 party regulator for the GSEs, and warned of the systemic effects that would occur from Fannie and Freddie going bankrupt.
In 2004 ,the House came up with HR1461, which was GSE legislation that was corrupted by the likes of Barney Frank. He added in a " affordable lending " slush fund ".
Bush shot it down in favor of the Senate bill sb190, that would have created a third-party regulator as early as 2005
Sb190 passed through the Senate banking committee with ZERO Democrat votes and a promise of a rule 22 fillibuster if it ever made it down to the floor for a vote.
In 2007, the Republicans sent it back through a DEMOCRAT chaired Senate Banking committee as sb1100.
It ofcourse was shot down in committee and a year later Fannie and Freddie were declared insolvent holding over 5 Trillion dollars in debt.
I get why the Democrats tried to blame the banks. They had to divert attention away from the two most corrupt Financial entities involved in the Subprime mortgage crisis, but I'm not one to buy into simplistic false narratives.
And I don't get my information from Hannity or Limbaugh and if you've been down this road before you should have learned something by now.