Actually it wasn’t GWB- it was clinton and the CRA. When Bush and even juan mccain had the courage to speak out about FannieMae failing, they were called racists- as usual.
Fredo’s brother was actually the one who caused the housing crisis: https://www.villagevoice.com/2008/08/05/andrew-cuomo-and-fannie-and-freddie/
Wasn’t CRA originally a Carter creation?
Here is audio from a Bush speech where he promised big loans for minorities who could never afford them, declaring they could have as nice home as anyone else. His own words and this was only a year or two prior to the epic housing collapse!
https://www.youtube.com/watch?v=GkAtUq0OJ68
This one wont take that long. The economy will start a downturn beginning March or April of this year.
Right...Bush was complicit in this on one hand with ANY encouragement and lip service to the scummy mortgage industry in giving loans to people who couldn’t pay them back, but his administration did at least try to nail down the issue with Fannie Mae and Freddie Mac in the House Financial Services Committee hearings in 2003 where the Bush Administration budget officials tried to nail down and publicize serious issues.
What we got, and I damn well remember it, was Barney Frank insisting there were NO PROBLEMS AT ALL, and that stain of a human Maxine Waters saying that any attempts to fix what was broken were racially motivated to keep minorities from getting loans, an obvious offshoot from the Marxist Community Reinvestment Act and the “reforms” during the Clinton era based on the flawed 1992 Federal Reserve Bank study that determined lenders were discriminating against minorities, when the reality was, they were observing sound banking practices in denying loans to people who couldn’t pay them back.
Yeah, they cloaked the justification for all those “reforms” in their Marxist BS, and by 2008, it all collapsed.
Not only did neither of them EVER get called to account for their hideous contribution by fighting against ANY reforms to them, Barney Frank retired with his pension and that bag of dogs**t Maxine Waters is unbelievably the ranking member of that same committee today.
If any of us needed an object lesson on why our government is irretrievably broken, it would be this situation.
Boy, does that piss me off. All those people losing their life savings due to those scum. If there were justice...