None of this happens without Fannie/Freddie's increased backing of subprime loans and the repeal of Glass-Steagal. If anyone can argue differently, I'm all ears.

Plenty of people argue differently. First, the rest of the world has done fine without a G-S bill and without a banking collapse, so how is it believable that repealing it in the US caused a different result? As for F/F backing of subprime loans: F/F *did* have rules about security and risk, but the sub-primes were falsely repackaged as gilt-edged investments. IOW the bankers at F/F bought into the same Emperors' Clothes deceit as the rest of the banking industry that got sucked into subprime. The only reason to uniquely pick out the bankers at F/F for blame is so that people can blame government.