The truth is that the Bush administration repeatedly tried to reign in this madness and was thwarted primarily by Barny Frank and Chriss Dodd. Don't believe me? Look it up. There are even multiple Youtube videos of the hearings for those of you who don't like to read.
RE: The truth is that the Bush administration repeatedly tried to reign in this madness and was thwarted primarily by Barny Frank and Chriss Dodd.
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Some videos for people who want references (and who still blame Bush for the subprime mess, like most of the Obama voters):
http://www.youtube.com/watch?v=cMnSp4qEXNM
http://www.youtube.com/watch?v=LPSDnGMzIdo
But then, Bush was also willing to play along and he isn’t entirely blameless. See here:
http://www.youtube.com/watch?v=kNqQx7sjoS8
But Bush was trying to have a war in Iraq which meant giving in to the Democrats on the things that they wanted. It was dumb.
Don’t forget to mention Maxine Waters with her new up-lifted face defending Raines at FANMA (Fannie Mae) to the hilt, as well as Dodd and Fwank.