It appears that the government was responsible for the subprime mortgage fiasco. There was something called the Community Reinvestment Act (RCA). Under Clinton this came to be used to force banks to loan money to minority people who were poor credit risks without credit checks. The government forced the banks to provide information on the race of the people they were making loans to. This exposed the banks to the usual shakedown artists, so they had to make a lot of subprime loans. Then the Fed forced the banks to bundle the bad loans with good ones, and sell them to unsuspecting investors. Now Democrats want to blame the banks, and create more regulations. As usual their attempts to repeal the laws of economics will fail, and the taxpayers will pay. This subprime loan scheme has worked out well for Democrats as a mechanism for transfer of wealth from the "bad" people to the "good" people.