Mr. BARNEY Frank: ...Are we in a crisis now with these entities?
Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
OOPS ANOTHER MEME BUSTED
which only means they didnt foresee a complete collapse and a bubble bursting AS IT DID.
THAT DOESNT PROVE REPUBS DIDNT TRY TO DO SOMETHING
it proves REPUBS DID TRY, and it still actually shows WHAT THE POSTER SAID TO BEGIN WITH; that conserns in the housing market WERE BROUGHT UP BY REPUBLICANS; and DOWNPLAYED BY DEMOCRATS
SINCE WHEN IS THE TREASURY SEC OF DUBYA A "DEM" BUBBA?
WHEN DID DUBYA TURN INTO A DEM?
Bush talked about reform. He talked and he talked. And then he stopped reform. (read that as many times as necessary. Bush stopped reform). And then he stopped it again
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
STATEMENT OF ADMINISTRATION POLICY
The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.
George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005
Yes, he said he was against it because it "would lessen the housing GSEs' commitment to low-income homebuyers"
June 17, 2004
(CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.
Home builders fight Bush's low-income housing - Jun. 17, 2004
DUBYA FORCED F/F TO PURCHASE $440 BILION IN MBS'S
2003-2008, DUBYA CHANGED(
2004) CLINTON RULE THAT FORBID ALLOWING SUBPRIMES TO COUNT TOWARDS SUBPRIME GOALS AND THEN UPPED THEIR GOALS FROM 50% TO 56% (
2004)
Yeah, i can see how it's the MINORITY MEMBERS OF HOUSE WHO WERE TO BLAME *SHAKING HEAD*
Q When did the Bush Mortgage Bubble start?
A The general timeframe is it started late 2004.
From BushÂ’s PresidentÂ’s Working Group on Financial Markets October 2008
“The Presidents Working Group’s 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.”
WEIRD ALL THAT STUFF DUBYA/GOP DID AFTER THE 2003-2004 F/F ACCOUNTING SCANDALS THE VIDS ARE FROM?? LOL