You linked me to an article that shows bankers failed to comply with the regulation. If the bankers are failing to comply with the regulation they aren't making the ridiculous loans it stipulates. So the crisis isn't being caused by bankers being forced to make loans they don't want to make, due to a regulation they aren't complying with.

If the bankers actually complied with the regulation and made the bad loans that then defaulted then I could agree. But the evidence you've given shows that they didn't. So I don't see how people somehow magically defaulted on these loans that were never made.