If you want a really good read on how this occurred, read
this article from Forbes.What you really want to know that, while Republicans are hardly scot free on this issue, it is largely an issue driven by Democrat social equity and engineering policies. It is both from the original act of the late 70's and the more robust expansion with the Community Reinvestment Act spear-headed by Barney Frank in the mid-90's. These were key action in the creation of the meltdown.
"Tomorrow is the most important thing in life. Comes into us at midnight very clean. It's perfect when it arrives and it puts itself in our hands. It hopes we've learned something from yesterday." Inscription on John Wayne's Headstone
