Relation b/w recession and subprime crisis

Subprime crisis is caused by a combination of events.

1. First,you have the lenders who want to make more money, so they made loans easily available to common people which they should not have done.
2. When there are many people who buy lands on large scale and then divide it and re-sell it.These people make huge profits when the economy is good.but when the demand goes down,they do suffer heavy loss.
3. When there are customers who wanted to buy homes and lied about how much money they make so they could get approved, some even bought seasoned trade lines to increase their credit scores thinking that they would flip the homes before the interest rates increased.

This crisis may or may not lead to recession.but in the present scenario,it has led to recession.Even experts failed to realize it in time.They realized only after the economic bubble burst!!Hoping for a faster recovery!!