1. Deregulation was the problem, and Clinton (plus every Republican president, and the Republican congress that wrote the deregulation laws Clinton signed) is partly to blame.
2. 86% of the sub-prime loans came from private lenders not subject to any government regulation on the matter. In other words, they were NOT "forced" to make such loans.
3. The sub-prime loans that did come from Fannie/Freddie actually had a much lower defaut rate precisely because of governement regulations mandating things like minimum down payments (standards that private unregulated lenders did not use).
4. The real problem was not sub-prime loans in any case, but rather the unregulated trade in derivitives, the unregulated sale of credit-default swap insurance (which killed AIG), and the unregulated ratings offered by private bond ratings agencies.
In all, Greenspan had it right when he said the collapse pointed to a fundemantal weakness in an unregulated free market. Such markets tend toward short-term gain at the cost of systemic long-term risk simply because executives have so much to gain and so little to lose.
