Do you think that administration didn't know banks were giving money away and didn't stop it? It was mainly unregulated greedy bankers seeking profits and Freedie and Fanny insuring them.
Goldman packaging it and selling them to states and counties

everyone was happy. I bet they knew where it will take us but no one wanted to stop the train while everyone was making $$.
Paulson helped his buddies with 1.3 Trillion of $$ to stop the ab bis. Now we don't have the money to help people who need health care because those greedy bankers and others got all the money.