What we've been saying all along. Maybe now some of those that excoriated us will finally believe.
If you read the report, it's the Bush administration's version of events that was peddled around when the bubble burst right at the end of Bush's second term. Blame is placed squarely on Clinton's CRA, Franklin Raines, etc. The whole tawdry yarn is there.
Naturally, there's no mention of Bush's Partnership for Prosperity Agreement (with Mexico), the New Alliance Task Force and the loosening of the banking laws to allow, nay, enthusiastically encourage Mexican illegal aliens into the US banking system using only a Matricula Consular card and a US ITIN.
Bush was supposed to be out of office and Obama was supposed to take the fall for the economic crash. But, the economy crashed before Bush left office, so there's no one else to blame, but him.
This report wants to blame the GSEs. But if you read the movers and shakers behind the the P4P and NATF, it was the banks who wanted to cash in on the illegal alien market who were spearheading this activity. We're talking about a market in the hundreds of billions of dollars. Fannie and Freddie, i.e.: the US taxpayer were always intended to be the rubes left holding the bag for Bush's banker buddies fleecing of the American taxpayer.
This report is just so much more covering of Bush's tracks.