[raybbr]

The current debate over which party wanted to reform Fannie and Freddie in the early part of this decade is irrelevant. The fact of the matter is that Democrats caused the beginnings of this crisis by demanding that people who had bad credit be given mortgages.

And, Bush pushed for increasing the percentage that Fannie and Freddie would purchase.

Please be more honest about this. Bush's "ownership" society was also to blame. He advocated using tax dollars to assist low income borrowers with their down payments for one thing.

Bush also pushed for minority home ownership over others using tax dollars to promote it.

Please, let's put the blame where it belongs - squarely on the Federal Government, both legislative and executive.

They spent more than they could ever hope to take in and both tried to ride the mortgage backed securities gravy train to popularity and approval.

[org.whodat]

You are correct!! Just cannot understand, why some people want to pretend the years of republican control of the house and Fannie and Freddie did not happen. The speeches made by jorge pushing these crap loans have been posted here many times.

[wmfights]

Please be more honest about this. Bush's "ownership" society was also to blame.

Absolutely right! He promoted the silly idea "everybody should own a home" and the % of home ownership went up from around 62% to 68% and now we are seeing the market drop back to the 62% area. The longer the govt acts to prevent this fallback, the deeper the recession.

Wall street and banks also have their share of blame in this mess with their stupid CDS's and lack of integrity of notifying the public of the problem.