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The property foreclosure crisis all started with the housing bubble that took place with lending criteria creating the housing situation. The chairman of the Federal Deposit Insurance Corporation (FDIC) thinks that the federal government has not learned from its mistakes yet.

I found this here: More skin in the game a key to preventing another housing crisisThe financial reform debate ended in one choice. This choice was to not require borrowers to put down a suitable down payment on their mortgages. Federal housing agencies forecast a return to subprime lending. Many think that the Federal Reserve is really hurting the crisis. They think the real means to fix the situation is to let natural consequences and correction takes place.