What are the causes of the financial crisis 2007-2009?

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igoogleplex

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Hello.
I have this as part of a homework project, and all the information i find online (wikipedia and such) is too complicated to fit the requirments.
Can anyone tell me 4 or 5 causes in simple terms for this modern financial crisis?

thanks!
 
political correctness. The liberals in congress forced banks to lend more and more money to minorities. If the banks didn't lend at least as much to minorities as they did to whites, they would be fined. As a result, the banks didn't want to get fined or sued or labeled as "racist", so they kept lowering the standards for getting loan approval so low that anyone could buy a home, even peole who had no business getting a house.
There were people who had NO JOB, NO income, NO Assets, also known as N.I.N.J.A. loans.
ALso, even people who had a job, could lie about their income and the banks never verfied.
Again, all this was to appease the liberals who thought that putting more black people and more illegal mexicans in a house was more important than the economy and more important than sound financial policy.
The names of the liberals are Chris Dodd and Barney Frank, and Bill Clinton, and Janet Reno.
 
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