Bush's speech the next day was more clear (See: President Reiterates Goal on Homeownership:
And so, therefore, I've called -- yesterday, I called upon the private sector to help us and help the home buyers. We need more capital in the private markets for first-time, low-income buyers. And I'm proud to report that Fannie Mae has heard the call and, as I understand, it's about $440 billion over a period of time. They've used their influence to create that much capital available for the type of home buyer we're talking about here. It's in their charter; it now needs to be implemented. Freddie Mac is interested in helping. I appreciate both of those agencies providing the underpinnings of good capital.
Thanks for providing the quote
Bush's quote makes it clear that Bush did not specifically ask for $440 billion.
He learned ("I understand") that they were going to arrange for that amount.
Bush: I appreciate both of those agencies providing the underpinnings of good capital.
Well, we now know the capital was not good.
The next year, Bush called for oversight.
About year later we all learned Fannie Mae fraudulently mistated their earnings.
More years passed and Congress didn't do anything... until they were forced to do it.
Let's take up a collection to buy new shoes for the Democrats.
The Democrats' shoes have got to be worn out from so much foot-dragging.