Loosely regulated subprime lenders and investment firms that bundled loans into private label mortgage backed securities — not Fannie Mae, Freddie Mac, or banks subject to the Community Reinvestment Act — were the main drivers of the housing boom and bust.

That’s the assertion of a McClatchy Newspapers story published Sunday that examines the emergence of "a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans."

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