Apparantly you have assessed the situation correctly as evidenced by Bfgrn's post going off onto tangents other than the root cause....the govt getting involved in the housing market and lending markets throughout the 90's under clinton and continuing keeping on under Bush.
Yes it began with Carter managing to get legislation passed to make it easier for the poor to buy homes. The rules were written in a responsible way at that time, however. In the Clinton administration, the bureaucrats started rewriting the rules and putting pressure for riskier and risker loans on Freddie and Fannie who attempted to minimize their own risk by bundling bad loans with good ones and selling these off to the financial institutions. As the bubble was building, it was highly lucrative and many jumped on the band wagon to get a piece of that pie.
The irresponsible policies continued well into the Bush administration. To his credit President Bush and a few others were sounding the alarm in the last few years before the crash, but the then Democratically controlled Congress continued to support Freddie and Fannie and deny there was a problem. Then when there was an economic downturn, people who had no investment in their homes began defaulting not in the hundrds but in the tens of thousands. And the bubble burst.
So now the Occupy groups blame Wallstreet for the problem. Wallstreet never would have been a problem if it had not been for an irresponsible Congress and bureaucracy. Wallstreet may indeed be guilty of crimes, but the Occupy groups are trying to hang them for a crime they did not commit.
And the Occupy groups are doing that by utter disregard for decency, the law, and the rights and property of others.
Is it the leftist mentality that prompts them to behave that way?
Is there anybody brave enough to tackle that question?