Housing crisis of 2008

Write about what led up to the housing crisis of 2008 and why. Talk about the banks and how they securitized mortgages as well as the problem with the subprime mortgages. Talk about Fannie and Freddie’s involvement in all of it.

Sources to be used:
Attached file is a short paper I wrote touching on the subject. You can use it if you like.
http://www.federalreservehistory.org/Events/DetailView/55
http://www.downsizinggovernment.org/hud/housing-finance-2008-financial-crisis

http://www.investopedia.com/articles/07/subprime-blame.asp
http://www.cbsnews.com/news/house-of-cards-the-mortgage-mess/
http://www.forbes.com/sites/stevedenning/2011/11/22/5086/