That ignores the fact that the whole casino was:
- Built on Clinton's fraud
- Perpetuated in the Senate by FannieMae grifters like Frank, Dodd, Fumer, and guess who -- Bobo
- Who in turn directly stymied -- guess who -- McCain's serious effort at reform in '05-'06
It was institutionalized fraud by the time it fell apart after Chuck Fumer's IndyMac-gic letter. That's why the
institutions fell apart, and not just (most) investors.
RE :”
That ignores the fact that the whole casino was: Built on Clinton's fraudPerpetuated in the Senate by FannieMae grifters like Frank, Dodd, Fumer, and guess who — BoboWho in turn directly stymied — guess who — McCain's serious effort at reform in ‘05-'06”
That is the standard talk radio Bush-apologist narrative that leaves out a few small details of what GWB was doing:
All you have to do is search and all these references to Bush taking credit for promoting home-ownership to those minorities that couldnt afford it or even read the contracts (probably many illegals too.) . Then when it crashed these poor bad credit minorities blamed Republicans. Compassionate conservativism was a disaster.
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
President Bush Reiterates Goal on Homeownership, Remarks by the President on Homeownership, Department of Housing and Urban Development Washington, D.C. (2002)
Early in George W. Bushs first administration, a home ownership initiative was introduced, sometimes referred to as the Blueprint for the American Dream, to close the homeownership gap by 5.5 million minority families. Along with this homeownership initiative, there were other policies implemented to dismantle barriers to homeownership in minority communities.” from :
The Great American Mortgage Scam & The Latino Community
George W. Bush, The White House.gov: Homeownership Continues to Increase in 2002 , HUD Statement on Record Homeownership Rates in 2002
George W. Bush, The White House.gov: National Homeownership Month, 2003, By the President of the United States of America A Proclamation