Have the American people, the mortgage industry and the banks learned much from the economic meltdown and housing crisis?

See the answers to a very similar question, I've learned some lessons - actually conclusions which others may or may not agree with. A prosperous economy is not guaranteed.  A good job is not guaranteed. Life is especially fragile if you run out of money. Debt can be useful, but it gets more dangerous the older I get. Homes are best seen as places to live, not as investments. "Accepting more risk," in the stock market probably won't increase my long term net worth. Economists don't understand the economy well enough to successfully manage it. The U. S. fraud laws are seriously broken.

Several lessons emerge: 1. The bigger the fraud and financial institution, the more likely justice will be in the form of a fine (a slap on the wrist relative to realized profits); definately no jail time for senior executives; 2. The large grow even larger with political and regulatory blessings, while the consumer experiences reduced accountability and horrid customer service (Bank of America); 3. The political contributions of the financial services sector prove corrusive and polutes attempted legislative and regulatory reforms; 4. Americans, particularly the poor and middle class, and our economy are more at risk for severe economic disruption today than they were in 2008, as six major banks now control an even larger segment of deposits and mortgages; and 5. The American public registers historic levels of contempt for Congress, which bodes ill for our democracy.

It seems very questionable to me that either the American people or many in the American elites have drawn the correct lessons from the Great Recession, beginning with its primary cause. Everyone agrees the proximate cause was the bursting of a real-estate asset bubble caused by sub-prime mortgages. However the common, popular narrative is that these sub-prime mortgages were the fault of greedy bankers, hedge funds, and other investors who either originated or otherwise financed the sub-prime mortgages. Nothing could be farther from the truth, as the sub-prime loans were mandated by the federal government. In the early part of the first Clinton administration (during which the Democratic Party controlled both houses of Congress), the Community Redevelopment Act of 1977 was http://www.nytimes.com/2015/03/12/business/dealbook/a-crusader-against-the-common-view-of-the-financial-crisis.html?_r=1 to mandate that Fannie Mae and Freddie Mac ensure that at least 30% of mortgages purchased from originating banks be made to people at or below the median income level in their communities. These were the sub-prime mortgages that eventually sank the economy. This goal was subsequently increased to 56% by the department of Housing and Urban Development. Nevertheless, many banks were reluctant to make such loans, but were eventually bullied into making them by regulators or Congressional committees. See @http://www.adividedworld.com/economic-ideas/causes-of-the-2007-2008-u-s-financial-crisis/. The answer of progressive politicians to the purported private-sector causes of the Great Recession was the Dodd-Frank Act, which has been as destructive to the economy as it has been unnecessary. See http://www.adividedworld.com/economic-ideas/economic-effects-of-the-dodd-frank-act/. Since the Dodd-Frank Act did not address the actual government roots of the crisis, and because the government learned little from the experience, they are again indulging in the same kind of behavior that created the Great Recession. See @http://www.adividedworld.com/economic-ideas/lessons-of-the-great-recession-not-learned/. In addition, it should be noted that the Federal Reserve shares a great deal of the culpability for that real-estate bubble since they helped finance it with easy money. See @http://www.adividedworld.com/economic-ideas/current-economic-effects-of-the-federal-reserve/. Also, it would appear that American elites have learned little about how to get out of such economic crises without sowing the seeds for future economic crises. See @http://www.adividedworld.com/economic-ideas/what-is-the-economys-condition/ and @http://www.adividedworld.com/economic-ideas/the-rahn-curve-and-the-way-out-of-economic-peril/.