>>81622724
The 2008 crash was about dealing with gentrification
Poor black people were being priced out of their homes when affluent hipsters started moving in. Bill Clinton and his Community Redevelopment act wanted them to benefit from gentrification. They couldn't profit as renters, but as owners they could appreciate 6 figure returns from housing increasing in value
The problem was these inner city people didn't have the credit for mortgages, so the fiscal standards of these mortgages had to be lowered for these sub prime borrowers
And when you lower standards so that more minorities can participate the results are inevitable