Question you have to ask yourself, @mtaibbi, is: Why, out of all the financial instruments in the world, what actually set off The Crash was bad mortgage lending in heavily Hispanic "Sand States (CA, NV, AZ, FL)?
A. GWB's 2002 WH Conference on Increasing Minority Homeownership.https://twitter.com/mtaibbi/status/1040742820385050624 …
Similarly, Sand State Mortgage Meltdown that grew out of Bush's "Increasing Minority Homeownership" push was to the 2008 Global Financial Crash as the October 1929 NY Stock Market Crash was to the Great Depression. We shouldn't overemphasize it but we shouldn't ignore it either.