I agree that there was a lack of proper regulation of organizations such as Acorn, since their hand in the passage of the community reinvestment act of 1977 was the start of all the housing collapse. It was also their hand that forced the barbaric amendment to the act in 1995. Anyone who disputes these FACT is lost in the trueism of modern day finance.
Obama was a young budding politician and community organizer at the time supporting acorns position to easy lending regulations so that minorities could become home owners more easily. He suceeded in getting the bill passed, and fannie may and freddie mac (financial terrorist zombie banks) began giving out loans to people who had not only no credit, but bad credit as well.
It was actually an amendment to this act in 1995 that forced all banks to give loans to broke people, or be called racist and a non-equal oppurutunity lender, hence losing their FDIC support.
Fannie and freddie then took all of these "what they new were bad loans about to be in default" and packeaged them into collaterlised debt obligations and sold them to the rest of the banking industry, and due to the amendment in 1995 the banks had to buy or face certain harsh penalty.
The truth is that after 1971, all regulators and private interest groups began grabbing power and jocking for positions. The intelligent question would be to ask yourselves why after 1971, what happened in 1971 that made financial regulations so easy to manipulate.
In 1971 we left the system of finance where our money's value was tied to a finite amount of any one item (gold). Many people ask what is it that gives gold its value, and why would we want to use it? The only thing that gives any item its true value is supply and demand. If a government can print money at will, than everyone has it, so its value is less. But if money is scarce, then everyone wants it and its value is high. Gold is always a limited item, and takes labor to get it from the ground and into circulation.
This is why Gold is the ultimate store of value, and is the only system of exchange that has ever lasted, all fiats have fallen and will continue to do so.
Here are a two movies that outline Acorns hand in the subprime scandal to steal the wealth from hard working savers, and another to outline what a currency is, since you guys apparently do not comprehend.