[WilliamIII]

I'm posting this "oldie but goodie" because so many Republicans and conservatives refuse to admit Bush's role in the housing bubble creation that led to the 2008 bust and the recession we're still mired in.

Why is this relevant today? Because I want to make sure that conservatives don't give Romney the kind of pass they gave Bush when he governed like a liberal. If conservative had criticized Bush's liberal policies when they were happening -- instead of treating him like a deity along with "that magnificent bastard" Rove, -- we might never have had the recession, and Obama might never have been elected.

[tcrlaf]

I’M CALLING BULLSH**T.

The ‘Housing Bubble’ was in trouble long before this. Or have YOU already forgotten that the massive mortgage frauds were already unhinging the system by this time?

The problem wasn’t helping people get homes. The problem was government FORCING banks to loan money to people who shouldn’t have had one in the first place, BASED ON RACE, not credit!

Or have YOU already forgotten “Red-Lining”, and all that other crap?

[tcrlaf]

After checking your posting History, I SMELL TROLL....

[Bruinator]

Sorry buddy, but I am a veteran. If I choose to use my VA loan with 100% financing, you bet your a@# I am going to use it.

[upchuck]

IIRC, this started under Clinton with the “Community Reinvestment Act” (CRA).

It pretty much forced banks to make housing loans to folks that would never, ever have qualified otherwise.

Those folks, naturally, had trouble keeping their mortgages up to date and thus the trouble began.

[ilgipper]

This was not good policy but a tiny part of the problem that led to the housing bubble bursting. The bubble was bing built for a decade previous to this decision. Bush had a core ,estate that home ownership growth created an ownership society. True in principle, but using bad policy to expand home ownership doesn’t accomplish the goal he laid out. The ‘affordable housing’ efforts of the left to push people who could not qualify otherwise as the bigger issue.

[Ann Archy]

Idiocy. The banks weren’t allowed to see if a person could REPAY the loans....NINJA loans....NO INCOME, NO JOB, NO PROBLEM!!!

[khelus]

How soon people forget Bush’s ‘ownership society’ which grew the mortgage problem. He was forgiven so much because of the R after his name: the Patriot Act, the TSA, pushing amnesty for illegals, calling those who wanted secure borders vigilantes, TARP, flooding the country will ‘guest workers’, creating Homeland Security via EO, no child left behind ...

Whether R or D, we need to be so vigilant.

[RWGinger]

Thank you for posting link This is a FAIL here is a key sentence "Bush contends that reducing the required 3 percent down in the Federal Housing Administration mortgage program to zero down would help 150,000 first-time buyers in the first year, 150,000. wow if they all default that will be disasterous Now read this link http://elenaives.com/attempts-president-bush-reform-fannie-mae-freddie-mac/ here are some of the topics ** 2001 April: The Administration’s FY02 budget declares that the size of Fannie Mae and Freddie Mac is “a potential problem,” because “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.” ** 2002 May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02) September 03: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact “legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises” and set prudent and appropriate minimum capital adequacy requirements." Remeber who shot Bush down for trying to stop runaway Fred and Fan?? Why it was Barney Frank Maxine Waters and Pelosi among others SO YOUR attempt has failed because you don't read your own links and you didn't research Do a search and tell us how many times the Bush admin tried to get something done about this

[Carriage Hill]

Darnit; missed another IBTZ!

[Delta 21]

....and pfffftt he wuz gone....

[Iron Munro]

You are wasting bandwidth.

Bush isn’t the problem.

Obama is the problem.

[Persevero]

I’ll go even further than this, and state the government backed mortgages are the problem.

Our government should not be in the housing business, save for housing defense personnel on bases and ambassadors overseas.

[Bubba_Leroy]

[CommieCutter]

I have no problem accepting the fact that Bush continued a doomed policy that was in place before he became president.

Let’s just make sure that we admit where it started:http://theaffordablemortgagedepression.com/2010/03/11/origin-of-the-housing-bubble-the-national-homeownership-strategy.aspx

http://www.huduser.org/publications/txt/hdbrf2.txt

We also need to make sure to admit the Democrats basically told us there was NO bubble, and they haven’t repealed anything that, according to them, supposedly caused the problem i.e. GLB-act.

[Freedom_Is_Not_Free]

Dr. Thomas Sowell agrees with the OP. Jump ahead to 1:02

http://www.youtube.com/watch?v=E1KwkScA540

[Freedom_Is_Not_Free]

Baby Bush was up to his neck with inflating the housing bubble. He was behind it 100%.

http://www.youtube.com/watch?v=GkAtUq0OJ68

[Fresh Wind]

[dragnet2]

The Bush years were an utter disaster.

Listen to Bush’s speech, were he demanded home loans for totally unqualified minorities.

http://www.youtube.com/watch?v=MqR15H0gNBU

[hinckley buzzard]

MassHousing, the state's affordable-housing bank, has had a similar experience in the two years it has been offering loans with no down payment, said executive director Tom Gleason. They've performed well in a strong housing market and are likely to be "common in the future," he said. An unanswered question remains, he acknowledged: "We have no experience of how these loans will perform when the market is weak."

The question has now been answered. I recall Bush campaigning for "the ownership society" and pushing to reduce down payments. he didnt start the bubble inflating but he sure gave it a healthy boost.

[NoLibZone]

What’s the bills number?