“”” Clinton pushed Fannie to 51% subprimes, made predatory lending legal and coerced bankers to make bad loans. Worst of all, bowing to Wall St. he opted not to regulate derivatives on the advice from his Wall St. pal Robert Rubin. “”
And Bush pushed them to 54% and never lifted a finger till it was too late.
“And Bush pushed them to 54% and never lifted a finger till it was too late.”
Actually Bush did lift a finger. He appointed the Chairman of Goldman Sachs, and head of the Wall Street “too big to fail” banking cartel, Henry Paulson, to be Secretary of the Treasury. Then when the financial crisis hit, instead of taking charge, he abdicated to Henry Paulson, Ben Bernancke, and Timothy Geithner. The three banking stooges immediately raided the treasury giving billion in bailout money, printed by the Federal Reserve out of thin air, to the big foreign and domestic banks while leaving the taxpayer holding the bag. They then insisted Bush and Congress pass TARP which consisted of nearly a trillion dollar bailout of the banking system. Then Bush decided to us TARP money to bail out GM and Chrysler, even though the legislation did not provide for such a bailout.
Bush lifted a finger once - to put the fox in charge of the hen house. Then when the chickens started squawking, he turned his back and walked away.
Not true. Bush sounded the warning. And was ignored.