Wednesday, November 23, 2011

Does anyone have a site where Bush asked Congress to put regulations on giving out bad mortgages?

Did Bush beg congress to get the banks to stop handing out loans? Or did he brag about the great economy where EVERYBODY could get a morgage?Does anyone have a site where Bush asked Congress to put regulations on giving out bad mortgages?
This article is the best I can find.





BUT please notice, Bush's problem with Freddie Mac and Fannie Mae isn't that they were giving loans out to people who shouldn't have them; he was upset with the management of the agencies.





No one was worried about home loans to people who couldn't pay it back.





As a person who was thinking about buying a home in the late nineties and early part of this decade, I can tell you that everyone was telling me house prices would never go down. If I recall, the Republican members of my family, and my Republican co-workers were the ones saying I was crazy to not buy a house.Does anyone have a site where Bush asked Congress to put regulations on giving out bad mortgages?
Look to an act in congress in 1977 called Fair Housing Act and what the Clinton Administration did in 1993 to it. Bush and the Republicans didn't stop the free for all for fear of being labeled racists by those millionaires Jesse Jackson %26amp; Al Sharpton, along with all who would benefit from such a risky move.


The political football game isn't even 5 minutes into the first quarter in my humble opinion, as we watch all markets associated with assets except precious metals taking major hits.
Umm.....no. Republicans were against this. But the Democrats targetted them as ';uncaring'; and ';mean'; for not wanting to help poor people who can't afford mortgages without thinking the reprocussions.





It makes good headlines though and to someone who doesn't read too much a headline like ';Republicans deny homes to people'; work.
Why don't you stop blaming bush and start putting some of the blame on these fools who got a house they could not afford and defaulted on their loans/mortgages. Owning a house is a privilege you earn, not a right. Individual ';wannabe homeowners'; have more fault in this than Bush.
Bush Called For Reform of Fannie Mae %26amp; Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings
He warned Congress about it two years ago. Where were you?





Barney Frank (National Socialist Democratic Party) was having a gay love affair with the CEO and said everything was fine.
Don't you remember? He warned Congress about toxic mortgages the same day he warned them that we'd never find WMD's in Iraq, and that Iraq %26amp; Sadam Hussein had nothing to do with Al-Qaida !!
http://gatewaypundit.blogspot.com/2008/0鈥?/a>
Yes he did.........he wanted more regulation, and our Congress and other Politicians boo hoo'ed this idea. A ';few, very few'; other Politicians wanted the same thing.
Goes all the way back. There are many sites with this content. Here's one:





www.marketwatch.com/News/Story/Story - White House warns of GSE risks -Nov. 6, 2003
Bush didn't have to beg congress. His party held dominating control of congress for SIX YEARS. Clearly he didn't see a problem with the continued deregulation.





Lots on the Right claim the deregulation was a Clinton era phenomenon (not entirely true...see: Reagan). But they don't explain why Bush and the GOP controlled Congress didn't do anything about the supposed problem.





Now you'll people claiming Bush has an epiphany... recently. I don't buy it. The GOP have been all deregulation, all the time for 30 years.
President Bubble was clueless as usual. He was too busy playing with his toy soldiers.

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