There is no sense or advantage to making a false statement. Financial blow-outs usually have more than one cause.

Clinton/Fanny was part of it. So was Wall Street and the Federal Reserve/Greenspan.

The short of that is "unregulated, anything goes . . ." Regulations were weak.
They were selling stuff that couldn't be explained.

Free and unfettered markets didn't enter into it. Do you know of any?

There were few complaints from the hoi polloi.