schattenwolf86 on 06 October 2008
If you want to take a good look at how this started rolling, start looking at The Community Reinvestment Act of 1977. Then look at the reforms in 1994 that pretty much forced banks to give mortgages to those who shouldn't have had any to begin with. Then tie in the big Investment Banks putting these subprime mortgages into securities. Thats the best of my understanding of it.
