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PRESIDENT BUSH: Well, on this issue, I don't steer clear because I remind the reader that on the issue of Fannie Mae and Freddie Mac, I saw a problem, and went to Congress and said, "Look, this is a group of... These are enterprises that have got an implicit government guarantee and they're taking risky stances, and therefore we ought to regulate them. If they've got an implicit government guarantee there ought to be some sense of regulation and make sure they don't misuse that guarantee, and I make it clear in the book what happened, and that is that powerful forces in Congress resisted that reform. Whether those reforms had taken place in 2003 it's hard to predict whether or not this crisis would have occurred, but I'm comfortable in telling the reader and comfortable that history will judge that we tried to do something about it. You know, and eventually the truth wins out, and this book is an attempt to set the record straight from my perspective.
During the limbaugh Bush interviewtoday Rush ask President Bush aboiut the car in the ditch
I will let President Bush speak for himself on this issue
PRESIDENT BUSH: Well, on this issue, I don't steer clear because I remind the reader that on the issue of Fannie Mae and Freddie Mac, I saw a problem, and went to Congress and said, "Look, this is a group of... These are enterprises that have got an implicit government guarantee and they're taking risky stances, and therefore we ought to regulate them. If they've got an implicit government guarantee there ought to be some sense of regulation and make sure they don't misuse that guarantee, and I make it clear in the book what happened, and that is that powerful forces in Congress resisted that reform. Whether those reforms had taken place in 2003 it's hard to predict whether or not this crisis would have occurred, but I'm comfortable in telling the reader and comfortable that history will judge that we tried to do something about it. You know, and eventually the truth wins out, and this book is an attempt to set the record straight from my perspective.
Time and time again I have said Freddy and fanny was the cause of the fanical crisis. Thank you George for telling it like it is.
During the limbaugh Bush interviewtoday Rush ask President Bush aboiut the car in the ditch
I will let President Bush speak for himself on this issue
PRESIDENT BUSH: Well, on this issue, I don't steer clear because I remind the reader that on the issue of Fannie Mae and Freddie Mac, I saw a problem, and went to Congress and said, "Look, this is a group of... These are enterprises that have got an implicit government guarantee and they're taking risky stances, and therefore we ought to regulate them. If they've got an implicit government guarantee there ought to be some sense of regulation and make sure they don't misuse that guarantee, and I make it clear in the book what happened, and that is that powerful forces in Congress resisted that reform. Whether those reforms had taken place in 2003 it's hard to predict whether or not this crisis would have occurred, but I'm comfortable in telling the reader and comfortable that history will judge that we tried to do something about it. You know, and eventually the truth wins out, and this book is an attempt to set the record straight from my perspective.
Time and time again I have said Freddy and fanny was the cause of the fanical crisis. Thank you George for telling it like it is.
Powerful Forces in congress in 2003 were REPUBLICAN.
During the limbaugh Bush interviewtoday Rush ask President Bush aboiut the car in the ditch
I will let President Bush speak for himself on this issue
Time and time again I have said Freddy and fanny was the cause of the fanical crisis. Thank you George for telling it like it is.
Powerful Forces in congress in 2003 were REPUBLICAN.
The powerful forces even though the republicans had a majority did not have enough to bust a threaten democratic fillabuster. Oh and 2003 wasn't the only time he said something he did it for all of his 8 years.
Seriously.
Exactly how did Freddie and Fannie get us into this financial mess? They back up loans brought to them by banks and of late, agents of financial companies.
Powerful Forces in congress in 2003 were REPUBLICAN.
The powerful forces even though the republicans had a majority did not have enough to bust a threaten democratic fillabuster. Oh and 2003 wasn't the only time he said something he did it for all of his 8 years.
They didn't evey put up a fight. They damaged the brand, and Bush presided over that.
The powerful forces even though the republicans had a majority did not have enough to bust a threaten democratic fillabuster. Oh and 2003 wasn't the only time he said something he did it for all of his 8 years.
They didn't evey put up a fight. They damaged the brand, and Bush presided over that.
Agreed I am not saying the repuyblicans aren't at fault but afterall Freddy and Fanny are democrats pet projects and the CRA which is another democratic thing did most of the damage.
Seriously.
Exactly how did Freddie and Fannie get us into this financial mess? They back up loans brought to them by banks and of late, agents of financial companies.
This is no surprise to me. Bush was a lone voice over Fanny and Freddie... and much more. I don't credit Bush for much but, on this, he listened to the right people - Economists - who were warning about the state of the financial industry, ballooning personal debt through stupid lending policies and really stupid Americans borrowing more than they could afford. On Fanny and Freddie, both Republicans and Democrats fucked us over. A bipartisan effort. One of the very, very few who actually tried to do something BEFORE the shit hit the fan was George W Bush.
Seriously.
Exactly how did Freddie and Fannie get us into this financial mess? They back up loans brought to them by banks and of late, agents of financial companies.
When the government says it will back any loans made by Freddy or fanny and Freddy and fanny makes loans to people who cannot or will not repay the loan and when you have enough of those types of loans. PLEASE PUT 2 AND 2 TOGETHER.
Seriously.
Exactly how did Freddie and Fannie get us into this financial mess? They back up loans brought to them by banks and of late, agents of financial companies.
When the government says it will back any loans made by Freddy or fanny and Freddy and fanny makes loans to people who cannot or will not repay the loan and when you have enough of those types of loans. PLEASE PUT 2 AND 2 TOGETHER.
Fannie & Freddie stopped MAKING subprime loans in 2005.
During the limbaugh Bush interviewtoday Rush ask President Bush aboiut the car in the ditch
I will let President Bush speak for himself on this issue
PRESIDENT BUSH: Well, on this issue, I don't steer clear because I remind the reader that on the issue of Fannie Mae and Freddie Mac, I saw a problem, and went to Congress and said, "Look, this is a group of... These are enterprises that have got an implicit government guarantee and they're taking risky stances, and therefore we ought to regulate them. If they've got an implicit government guarantee there ought to be some sense of regulation and make sure they don't misuse that guarantee, and I make it clear in the book what happened, and that is that powerful forces in Congress resisted that reform. Whether those reforms had taken place in 2003 it's hard to predict whether or not this crisis would have occurred, but I'm comfortable in telling the reader and comfortable that history will judge that we tried to do something about it. You know, and eventually the truth wins out, and this book is an attempt to set the record straight from my perspective.
Time and time again I have said Freddy and fanny was the cause of the fanical crisis. Thank you George for telling it like it is.
Powerful Forces in congress in 2003 were REPUBLICAN.
F&F were the ones packaging mortgages into securities.
During the limbaugh Bush interviewtoday Rush ask President Bush aboiut the car in the ditch
I will let President Bush speak for himself on this issue
PRESIDENT BUSH: Well, on this issue, I don't steer clear because I remind the reader that on the issue of Fannie Mae and Freddie Mac, I saw a problem, and went to Congress and said, "Look, this is a group of... These are enterprises that have got an implicit government guarantee and they're taking risky stances, and therefore we ought to regulate them. If they've got an implicit government guarantee there ought to be some sense of regulation and make sure they don't misuse that guarantee, and I make it clear in the book what happened, and that is that powerful forces in Congress resisted that reform. Whether those reforms had taken place in 2003 it's hard to predict whether or not this crisis would have occurred, but I'm comfortable in telling the reader and comfortable that history will judge that we tried to do something about it. You know, and eventually the truth wins out, and this book is an attempt to set the record straight from my perspective.
Time and time again I have said Freddy and fanny was the cause of the fanical crisis. Thank you George for telling it like it is.
Powerful Forces in congress in 2003 were REPUBLICAN.
Actually..... the power remains in the hands of those holding the leash of Americas lobbyists and consultants, be they be private or corporate, foreign or domestic.When the government says it will back any loans made by Freddy or fanny and Freddy and fanny makes loans to people who cannot or will not repay the loan and when you have enough of those types of loans. PLEASE PUT 2 AND 2 TOGETHER.
Fannie & Freddie stopped MAKING subprime loans in 2005.
Doesn't matter. The subprime market, whomever was running it, was artificially inflating values for ALL residential real estate, even though they only comprised a small percent of mortgages. If you have one more buyer in the market out of ten who doesn't care how much they pay for a house because they are putting nothing down, it starts a domino effect on the whole market. Every buyer must bid those prices to stay competitive.
When the subprime loans crashed, the whole market crashed with it.
