The Bush administration introduced 15 bills to regulate Fanne Mae and Freddie Mac. All of them never made it out of committee.
You mean the Republican controlled House?? Really? How could Democrats block anything there? You see Republicans blocking any bills when Pelosi was Speaker? You see Pelosi 'blocking' any House bills now? You understand how House rules work?
Apparently Bush got his 'Fannie and Freddie loans for minorities with bad credit' policy through:
GWB 2002 Speech :We have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. Thats a home ownership gap; a gap that we got to work together to close. And by the end of this decade well increase the number of minority homeowners (future Obama voters ) by 5.5 million families
One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You dont have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up).
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
The RINO leader Bush had to get those illegals into those new homes, jobs, credit historyor not.
"Hey Al, could you please help Weiner put it back in his pants til he gets home."