How democrats lied to America, while using community reinvestment act and acorn to destroy the American financial system.

Nobody is disputing that F&F played a substantial role int the crisis.  Even holding 25% of the market makes you a major cause. I think I've been clear on that. Dismissing the other 75% of the market at the height of the bubble as merely having to "compete with the GSE's" ignores completely many of the substantial and systemic problems present in the market and if we don't acknowlege them we wont correct them.

There are several other very important causes to the crisis. The private banks (who made the majority of the subprime loans) had their own way of insuring the mortgages. Credit Default Swaps and other instruments were invented after the S&L crisis in the late 80's. The inventor of them Bill Siedman urged Greenspan and Bush sr. to regulate them and Greenspan said no because they were "sophisticated instruments traded by sophisticated investors. The market will regulate itself." He was wrong.

Yes. back when there weren't enough subrpime loans in the country to be a danger to the market. But during the boom from 2004 to 2006 when things got out of hand F&F only had 24% of the subprime market share. Primarily because their lending standards were much higher than those of the private banks.  I'm not saying F&F are blameless. But the private banks were even more careless. Which is why a large majority of the forceclosures on the market were bought by private banks. not F&F.