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RE :”January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee. The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES!”

This GWB revisionism never dies. Yep, in this fantasy world Bush was fighting to keep his economy booming but Dems passed all these laws over his veto for 15 months until the economy collapsed.

Back to Planet Earth:
The Bear stock market started September 2007 NOT September 2008 a year later. That's why GWB worked with Pelosi to pass a stimulus #1 in early 2008. The final collapse and market run happened a year later in Sept 2008.

Bush bragged about CRA type housing risky loan policies to minorities that he promoted. He gave speeches bragging about it easy to find on the internet.

Yes, Dems took over the House in 2007 but with a 51 seat dem Senate caucus (includes 2 independents) when it takes 60 to pass mostly anything Dems accomplished nothing without GWBs blessing, major accomplishments :
1) Bush/Pelosi stimulus #1,
2) The 2007 Energy Act and
3) the Bush/Paulson TARP are the most significant.

The crash was a result of bubble that was started back in 2002 and 2003. By 2007 it was little late to reform home loans as prices were at their peak of the bubble. How about 2006 when Rs had a clear majority?

Trying to revise GWB history just makes Republicans look silly.

” The crash was a result of bubble that was started back in 2002 and 2003. By 2007 it was little late to reform home loans as prices were at their peak of the bubble. How about 2006 when Rs had a clear majority?”

Correct. I warned FReepers repeatedly in 2006(plenty of time to bail if they had just listened)that RE was in a massive bubble, and it would be a TRILLION dollar bloodbath.
Maybe you can find them. I don’t know how to do it.

Back to Planet Earth:
The Bear stock market started September 2007

I recall in the spring of 2007, the Bush economics team hitting the newstalk programs and saying how sound the economy was.

I thought it strange at the time that they were harping on the soundness, as there were no rippples about a bad economy at the time.

They were trying to head off disaster and get themselves to the election so they could pass the buck -- they failed by a few months.

Two months later, the cracks started to show. Four months later, we were bombarded with several economic crises that needed 'immediate' bailouts or armageddon would happen.

My Congressman voted for the first bailout. I sent him a scathing letter that centered on the question: Where will it stop, once the bailouts start?

He responded with some hand-penned comments in agreement on his 'official' reply. As I recall, he never voted for another bailout.

Team Bush knew in the early spring of 2007 that big economy problems were about to hit.

To futher change the shades of gray...

The Bear stock market started September 2007 NOT September 2008 a year later.

Yes, it peaked in Sept 08'. Rahbini Dr Doom made his call on CMO's etc the same weekend, I remember the posting here, trying to figure out what the heck he was talking about... Those of us that got out around then or shorty their after ( Thank you Glenn Beck ) faired ok....

Bush bragged about CRA type housing risky loan policies to minorities that he promoted. He gave speeches bragging about it easy to find on the internet.

Yes, and at the same time GWB. McCain, Chris Shay's etc were on a screed to reform Fannie and Freddie numerous times only to get blocked by the likes for Bwanney Fwank and Maxine Waters and the Rest of the Black Caucus.

The crash was a result of bubble that was started back in 2002 and 2003. By 2007 it was little late to reform home loans as prices were at their peak of the bubble.

The Clinton / Gingrich / Lott passing of the last fiancial reform act in 99' changed the home exemptions up to 250k single and 500k married if you lived in for 2 years. I want to know how many in the House and Senate became flippers with that one.. Na this had no effect on the housing market... Ya think? IMHO it was the reason all the over 50 crowd empty nesters starting flipping and probably one of the major reasons for the housing bubble It was tax free money!

IMHO all homes are a capital asset and if ya like the 15% rate, treat them as such and make long term 1 year as well. Then all capital endeavors are on an equal footing, it is your abilities that would determine your gains in a given market / endeavor...

Trying to revise GWB history just makes Republicans look silly.

Speaking of looking silly ......

The 110th Congress (and Senate) was elected on November 6, 2006 and effectively took control of the House of Representatives the following day. Every legislative act and the economic meltdown that you reference occurred after this date. W, certainly too gracious in bending to the ignorant American electorate who willingly put liberal democratic socialists in power, only attempted to limit their legislative actions since he had no other course of action. The GOP Senate (see references above at #19 and #39) was feckless and complicit with the liberals. No chance for any veto by W holding up.

And with regard to the critical Banking and Financial Services reform ....

President George W. Bush and GOP Rep. Baker were all over that ... in 2004! The libs called them racist and successfully resisted the needed reform because the feckless and cowardly GOP Senate rolled over.