Capitalism Magazine - The Tea Party vs. The Conservatives

"According to serious economists (such as Thomas Sowell), the primary cause of the bank meltdown was the fact that mortgages were handed out to people who could not afford houses. As people who never should have been granted loans in the first place piled up debt, the entire mortgage industry imploded. This is because the federally managed mortgage industry mandated that more people get mortgages. Politicians in both parties, including George W. Bush, liked to see those home ownership numbers increase because it made them feel like they were creating a vibrant economy. In reality, the collapse of the financial industry which "required" TARP was due to government intervention in the economy."
Capitalism Magazine - The Tea Party vs. The Conservatives