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)
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
Bush made a feeble attempt to stop the NINJA loans. Then backed off....probably from advice by Rove to milk it with the hispanics.