The Housing boom Started under Bill Clinton and continued under Bush. While that was the straw that broke the camels back it was not the complete Story. Clinton signed a law that allowed Banks to be too big to fail. Now the GOP Congress And Senate wanted it too. This took away the last provision of the Glass Steagal Act which was designed to stop another Great Depression. The Too big to Fail banks were then allowed to trade on the markets without any over sight because they were JUST TOO BIG TO FAIL.
It took them them about 8 years to help grow bubbles .....especially on worthless Mortgages ....to our collapse..........They then got bailed out.........but as usual the TRUTH WAS HIDDEN. They took out TARP loans that they didn't need as they went to the back door of the Federal Reserve and took Trillions.
They then paid off the TARP loans and everyone said.........SEE THEY PAID IT BACK WITH INTEREST....with the Trillions from the Federal Reserve lol
Anyways...........Bush fought against allowing this to be known and so did Obama.........Because we have 2 parties with both sides tied to the hip of the large corporations that really write the laws in this country.
The media as usual didn't tell about this. These sites everyone goes THAT'S NOT TRUE......Yet A Supreme Court Ruling forced disclosure of who got the money and the GAO published the report showing they TOOK THE MONEY.
Both parties Career politicians are the problem. They are bought and paid for.
Here is more info.....not to the banks...
After submitting its 2016 Certifications in September 2016, the Department of Justice and ODNI learned, in October 2016, about additional information related to previously reported compliance incidents and reported that additional information to the FISC. The NSA also self-reported the...
themarketswork.com
We gave too much power to the Gov't. Homeland security.........that is how Obama played the games on Trump with the FICA courts......Secret courts to track terrorists.......but ......spying on Americans and Trump.........abused to hell and back. etc.