“The problem was with the Democrats passing laws that required banks to provide loans to people with no income..no downpayment..no jobs!!”
Bush AGREED with them and ENCOURAGED it.
“Many of the partners today, many of the people here today, many of the business leaders here today are creating a market for the mortgages where Section 8 vouchers are a source of the payment. And that’s good”...
- GWBush
You can’t encapsulate President Bush’s entire HUD policy by taking one sentence out of context from one speech. HUD is part of the executive branch, so President Bush was responsible for that department. The left was certainly not favorable to his policy at HUD. Read this(from a liberal rag).
http://www.commondreams.org/headlines05/0531-02.htm
Here is his ‘official policy’ in 2005 concerning HR1461 and the administration’s objections to it.
http://www.presidency.ucsb.edu/ws/index.php?pid=24851
As conservatives, you and I probably don’t favor any of these programs as they were set up, but a blanket statement that Bush was equally at fault is simply rubbish. We may not like his stance on the matter,but it was a far cry from what the democrats were(and still are) pushing. In fact, I believe a good argument could be made that had the democrats not blocked the reforms that President Bush was proposing, we might not be in this mess...or at least it would not have been as bad of a recession.