“…nobody forced businesses to make bad deals.”

YES THEY DID!

The CRA required banks to “get with the program” or else they were not allowed to add new branches, buy other businesses, and expand into new areas.

It was NOT simply that there was no regulation. It was that the regulations REQUIRED businesses to make bad decisions and that imposing normal regulations on Fannie and Freddie was stopped by the purchased politicos of Congress.

The deritatives were all response to this stacked deck of cards. You try to sell the dead horse the Mob put in your bedroom to a butcher.