Yes, BECAUSE Dubya worked out sooooo well
CBO: Bush Tax Cuts Responsible For Almost A Third Of Deficit In Last 10 Years (2001-2010)
Why Prosecutors Don't Go After Wall Street
BUSH GAVE A GET OUT OF JAIL FREE CARD SUMMER 2008
Why Prosecutors Don t Go After Wall Street NPR
“When regulators don’t believe in regulation and don’t get what is going on at the companies they oversee, there can be no major white-collar crime prosecutions,”...“If they don’t understand what we call collective embezzlement, where people are literally looting their own firms, then it’s impossible to bring cases.”
http://www.nytimes.com/2011/04/14/business/14prosecute.html?pagewanted=all
The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence.
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The Two Documents Everyone Should Read to Better Understand the Crisis William K. Black
Dubya was warned by the FBI of an "epidemic" of mortgage fraud in 2004. He gave them less resources.
FBI saw threat of loan crisis - Los Angeles Times
Shockingly, the FBI clearly makes the case for the need to combat mortgage fraud in 2005, the height of the housing crisis:
Financial Crimes Report to the Public 2005
FBI mdash Financial Crimes Report 2005
The Bush Rubber Stamp Congress ignored the obvious and extremely detailed and well reported crime spree by the FBI.
THE BUSH ADMINISTRATION and CONGRESS stripped the White Collar Crime divisions of money and manpower.
http://www.nytimes.com/2008/10/19/washington/19fbi.html?pagewanted=all
DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!
Good for you Bubba, you have an out of context Vid from Barney in 2003 talking about F/F ACCOUNTING scandals of 2003-2004. AND?
Beware of the half truth. You may have gotten hold of the wrong half. — Unknown”
Q When did the Bush Mortgage Bubble start?
A The general timeframe is it started late 2004.
From Bushs Presidents Working Group on Financial Markets October 2008
The Presidents Working Groups March policy statement acknowledged that turmoil in financial markets
clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.
Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Investment banks capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
FACTS on Dubya s great recession US Message Board - Political Discussion Forum
Conservatives Can’t Escape Blame for the Financial Crisis
The onset of the recent financial crisis in late 2007 created an intellectual crisis for conservatives, who had been touting for decades the benefits of a hands-off approach to financial market regulation. As the crisis quickly spiraled out of control, it quickly became apparent that the massive credit bubble of the mid-2000s, followed by the inevitable bust that culminated with the financial markets freeze in the fall of 2008,
occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.
Predictably, many conservatives sought to blame the bogeymen they always blamed.
Politics Most Blatant Center for American Progress