http://www.publicintegrity.org/blog/entry/1664/
From Sept., 2009
"An analysis of federal mortgage data found that fully half of all subprime loans were made by non-bank mortgage companies, subject to little oversight and regulation. Further reporting uncovered that these nonbank lenders were not required to file reports of suspicious activities to the federal gov't, unlike almost every other player in the financials services realm, from banks to casinos to check cashers."
" And one year from the collapse of Lehman, many of the loans that crippled the financial system could still be made today. High-cost, o documentation subprime loans are still perectly legal. But that could be changing, as the proposal for the Consumer Financial Protection Agency and other regulation plans move forward"
Note: The Consumer Financial Protection Agency was proposed and passed by Democrats. Republicans were opposed.
You really are going to have to stop your steady diet of Fox news. You could end up like a lot of those listeners believing all kinds of crazy stories.