I asked the question because many on here have been advocating building houses and lending them to the poor, which is what Clinton encouraged. We have limited finances available to stimulate the economy and putting them into the property market is not necessarily a brilliant idea.
Economists will be debating for decades the causes of the credit crunch and will will not come to an agreed answer. To blame any one sector of the economy is very simplistic but there are enough candidates for everybody to find a target for their personal prejudices.
(Incidentally, a major part of the problem in America was that american mortgage rates can only be negotiated downwards)