We had a mechanism in place to prevent people from over-extending themselves financially. It was called credit-worthiness. If you couldn’t afford a $300,000 loan, lenders would not give you a $300,000 loan.
Connect the dots, people. “This mess” was caused by government-mandated replacement of credit-worthiness with political correctness. Before the Democrats, and in particular, the Clinton administration, changed the rules, there was no sub-prime mortgage problem. People who could not afford loans were not given them.