Hmm interesting read

What makes Duped America so special and different from other political books?

Then came the single most catastrophic decision leading to the housing
crisis: Clinton legalized the securitization of these mortgages, which allowed
Fannie and Freddie to finance everything by buying loans from banks, then
repackaging and securitizing them for resale on the open market.

Thus began the meltdown. In 1997, Bear Stearns handled the first
securitization of CRA loans — $385 million worth — all guaranteed by
Freddie Mac.

Subsequently, a subprime market that had been a relatively
modest part of the mortgage business with $35 billion in loans in 1994 soared
to $1 trillion by 2008.