Over-enthusiastic mortgage lending was fueled by the securitisation of that debt through CMOs, which create this situation in which those who work in mortgages

Over-enthusiastic mortgage lending was fueled by the securitisation of that debt through CMOs, which create this situation in which those who work in mortgages retail couldn't care less if the mortgage is ever repaid - all they need is to find someone who will buy the security. Who created CMOs? Who made billions from them - until the collapse? Who was opposed to any form of regulation in financial markets?