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Thank you for posting link This is a FAIL here is a key sentence "Bush contends that reducing the required 3 percent down in the Federal Housing Administration mortgage program to zero down would help 150,000 first-time buyers in the first year, 150,000. wow if they all default that will be disasterous Now read this link http://elenaives.com/attempts-president-bush-reform-fannie-mae-freddie-mac/ here are some of the topics ** 2001 April: The Administration’s FY02 budget declares that the size of Fannie Mae and Freddie Mac is “a potential problem,” because “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.” ** 2002 May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02) September 03: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact “legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises” and set prudent and appropriate minimum capital adequacy requirements." Remeber who shot Bush down for trying to stop runaway Fred and Fan?? Why it was Barney Frank Maxine Waters and Pelosi among others SO YOUR attempt has failed because you don't read your own links and you didn't research Do a search and tell us how many times the Bush admin tried to get something done about this

Administration mortgage program to zero down would help 150,000 first-time buyers in the first year, 150,000. wow if they all default that will be disasterous

Wow! So, now it's okay for taxpayers to subsidize mortgages as long as it's an R. It goes even further under Bush, though. Let's see if you are willing to suspend your beliefs for this truth:

In Bush's June 17, 2002 speech, he also called for the creation of the American Dream Down Payment Fund.

"And so here are some of the ways to address the issue. First, the single greatest barrier to first time homeownership is a high downpayment. It is really hard for many, many, low income families to make the high downpayment. And so that's why I propose and urge Congress to fully fund the American Dream Downpayment Fund. This will use money, taxpayers' money to help a qualified, low income buyer make a downpayment. And that's important."

And, the 108th Congress (2003-2005) responded with the American Dream Downpayment Act:

"Amends the Cranston-Gonzalez National Affordable Housing Act to: (1) authorize the Secretary of Housing and Urban Development to make grants to State and local participating jurisdictions for downpayment assistance and related home repair to low-income, first-time home buyers; and (2) limit family assistance to the greater of six percent of the purchase price or $10,000. Requires a participating jurisdiction to include intended grant uses in its fiscal year comprehensive housing affordability strategy under such Act."

"Sets forth State and local jurisdiction allocation formulas. Permits fund reallocation."

"Requires the Comptroller General to report respecting the impact of such grants on a State-by-State basis."

"Terminates grant authority after December 31, 2007. Authorizes specified FY 2004 through 2007 appropriations."

"Makes the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 inapplicable to such assistance."

The act was authorized to appropriate up to $200 million per year of US taxpayer funds between FY2004 through FY2007 to go to Bush's 'minorities'.

The sponsor and co-sponsors of this $800 million giveaway:

Sponsor: Sen. Wayne Allard [R-CO]

Co-sponsors:
Sen. Samuel Brownback [R-KS]
Sen. Conrad Burns [R-MT]
Sen. Ben Campbell [R-CO]
Sen. Michael Crapo [R-ID]
Sen. Michael Enzi [R-WY]
Sen. Charles Hagel [R-NE]
Sen. Lisa Murkowski [R-AK]
Sen. Richard Santorum [R-PA]
Sen. Jefferson Sessions [R-AL]