The problem on this that I see, is not that Trump or anyone else, sought to buy low and sell high, but the fact that DJT has, in the past, blamed BUSH for the housing collapse. He appears to not know how the Clinton’s rigged the system. I am a long standing DJT supporter and he needs to address this. Because it is false, and it was baked in the cake for the housing market to fail by the time we had the 2000 election. Had Gore won, it would have fallen on HIS watch.
It is 100% true that Bush was unable to fix this; he never had the votes on the right committees, even from his own party. Some of the congress members from the south come to mind, in fact. There were too many in Congress who had their beaks in the water pool, both parties.
I will never forgive Karl Rove, EVER, for not putting GWB in front of the camera, on a nationally televised address, warning the American people that unless Congress gets their crap together, the housing market is going to collapse. And the economy will go to hell.
Never, ever.
“It is 100% true that Bush was unable to fix this;”
“Unable”? He never acknowledged that there was a bubble, until the damned thing started collapsing.
Bush had made noises about reforming Fannie and Freddie but it had nothing to do with halting subprime lending, a practice that Bush was all in favor of. Fannie had a debt to equity ratio that wasn’t sufficient, they were making more loans than their capital could support. The managers were also cooking the books so that they would get maximum bonuses. But none of this was at the root of the housing bubble or subprime lending. The greatest amount of subprime lending was going on in the unregulated shadow banking sector of Wall Street because fortunes were being made. At least until the pyramid collapsed.
Bush policies helped accelerate the problems Clinton started and so yes he deserves a lot of blame also.