I'm with Steel it . This won't be a 2008 it was a one off what happened was people were getting a mortgage that worked at Walmart for 700.000 to buy a house there was no way they could afford that but they got them anyway.
Mortgage Co's would take these mortgages bundle them and sell them to investors and to other Countries .
Bill Clinton changed the Housing requirements witched made the laws laxed

Subprime Mortgage Crisis
2007–2010

https://www.federalreservehistory.org/essays/...age-crisis

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25 People to Blame for the Financial Crisis
He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting ..

http://content.time.com/time/specials/package...22,00.html