How is the crisis in the housing market related to the financial sector?

How is the crisis in the housing market related to the financial sectorHow is the crisis in the housing market related to the financial sector?
Franklin Roosevelt set up protective laws to protect America from another great depression. The greedy didn't care and circumvented and repealed the laws. When those laws were out of the way, lenders in the financial sector sold complicated mortgages to home-buyers who were unlikely to keep up with the payments. These gullible home-buyers trusted that banks would not sell them anything they could not afford. Then the lenders sold complicated financial products to spread out the risk and so they could still make money if the home-buyers couldn't pay.



Blinded by greed, the lenders fooled themselves into thinking the system was safe and conned the government as well. They didn't even care if the economy crashed; they got paid anyway. Even though many laws were broken, several of the culprits are in prominent positions on the President Obama's staff. Even the least of the Wall Street employees involved in this scandal are independently wealthy.How is the crisis in the housing market related to the financial sector?
because the financial institutions were buying and selling home loans