You are on the right course.
It is and was not the fault of any government employee,program, law, regulation, rule, Barney Frank, Phil Gramm or whoever that adults did not pay their mortgages.
How ironic it is that the very peoplethat claim they are conservative here blame the government for folks that are deadbeats and do not pay their bills.
I'm not saying there are not deadbeats.
But, if I lend $20.00 to a hamster, and it doesn't pay me back, the default on the loan isn't the hamster's fault.
And not the governments fault either.
Actually it is since they were the ultimate guarantor of the loan.