Bush and McCain saw the risks at the time but the Democrats refused to do something about it because they did not want to take away a program that was benefitting their voters.
“Greenspan pointed out that the entire financial system was at risk. Schumer praised Fannie Mae and Freddie Mac for making housing loans available for more people.”
Agree on Greenspan. Obviously it was more than just me, Shiff, and that Big Short guy. As far as Bush was concerned, he seemed out to lunch, with his ‘Ownership Society” crap. At least that’s how I remember it.