Under Clinton, the government forced the banking industry to offer mortgages to low and moderate income families who could not afford them.
Another contributing factor -in fact the primary factor to the problem, was the hiring of two individuals directly responsible for the bubble. The first was a young Acorn lawyer by the name of Barack Obama. The second was Andrew Cuomo, Jr. hired as the secretary of housing, who is now New York State’s attorney general. It was their victory in the amount of $2.1 billion over a Chicago bank, which had refused Clinton’s and Cuomo’s mandate to lend to unqualified borrowers,