Try as you might, there is no bit of evidence that suggests any regulator forced a bank to give out loans to people who cannot afford them. Secondly, the CRA only applied to FDIC insured institutions, meaning that lenders like Countrywide, Ameriquest, and New Century were free to make loans as they seen fit. Oddly enough, they are among the originators with the absolute highest default rates.
Because the subprime crisis had little (if anything) to do with the CRA.
Countrywide, Ameriquest, and New Century got quite rich on the commissions. That's what they wanted and care about as the debts were passed off to the banks who created neat little bundles of fail in CDOs.
"There is a lot of talk coming from CitiGroup about how Dodd-Frank isn't perfect, So let me say this to anyone listening at Citi —I agree with you. Dodd-Frank isn't perfect. It should have broken you into pieces." -- Elizabeth Warren