Bush administration was predatory lenders' partner in crime

Salt Lake Tribune ^ | 18 Feb 2008 | NYGovernor, Eliot Spitzer

[raybbr]

Mr. Spitzer seems to have a faulty memory. It was the Congress, largely pushed by liberal Democrats, but unfortunately helped by some Republicans, who eased the rules regarding mortgages. They were doing it for the ‘poor’ who they believed were being discriminated against by banks and mortgage companies. The fact that there were problems showing up in 1999 shows that the issue had been brewing long before Bush became President.

How do you reconcile this:

In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions pre-empting all state predatory lending laws, thereby rendering them inoperative against national banks.

[SuziQ]

I couldn’t tell ya, but if the height of the crisis was in 2003, that tells me it had been going on before George W. Bush was President.