Report: Government is responsible for housing bubble, not banks

Report: Government is responsible for housing bubble, not banks | The Daily Caller:
"The housing bubble was inflated by federal policies created by President Bill Clinton, then expanded by President George W. Bush.
The policies were supported by Senator and then President Barack Obama.
The policies were intended to help low-skilled Americans — especially African-Americans — and Hispanic immigrants gain housing wealth by pushing down mortgage requirements, such as down-payments.
But the government policy had the reverse effect, and the housing collapse after 2007 eliminated much of the wealth held by African-American and Hispanic families.
Since the 2007 crash, Obama and his Democrats allies have argued the crash was caused by greedy bankers’ unfair and illegal treatment of African-American and Hispanic borrowers."