The speech has no negative content. It is okay to own a home. The program was a huge success in every way.
The problems in the Mortage industry were foreseen by bush and 17 times he instructed congress to take action. He even provided frameworks and policies for acting.
On the other hand we have the bush reactionaries here who have zero effe I’ve advocacy.
It is the BDS crowd that ignores the evidnce here.
Why?
“The speech has no negative content”
Oh yeah, the part praising Fannie Mae’s Franklin Raines for ladling out taxpayer money was especially good. As was the entire premise of the American Dream Downpayment Initiative, where taxpayers were put on the hook to provide ‘free’ down payments for Dubya’s favorite minorities.
How could any of us be so blind to Bush’s genius? Without those ‘free’ down payments we would have been deprived of tens of thousands of additional sub-prime candidates to further balloon the housing bubble. Yes, the ADDI was pure genius.
Not being prone to hero-worshipping politicians I’m always amazed at the ability of some to rationalize away the behavior of their heroes.