"Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs"
WEIRD, WHY COULDN'T DUBYA GET THE GOP CONGRESS TO ACT ON HIS 'WORRY'S'?
One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.
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.
The critics have forgotten that the House passed a GSE reform bill in 2005 that could well have prevented the current crisis, says Mr Oxley (R), now vice-chairman of Nasdaq.”
“What did we get from the White House? We got a one-finger salute.”
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
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
July 8, 2004
HUD DATA SHOWS FANNIE MAE AND FREDDIE MAC HAVE TRAILED THE INDUSTRY IN PROVIDING AFFORDABLE HOUSING IN 44 STATES
New regulations will increase mortgage financing for homebuyers and underserved communities
"While the GSEs met the affordable housing goals in 2002, they must further utilize their entrepreneurial talents and power in the marketplace to genuinely lead the mortgage finance industry as Congress intended," said
HUD Secretary Alphonso Jackson. (THAT'S DUBYA'S GUY)
HUD Archives: HUD DATA SHOWS FANNIE MAE AND FREDDIE MAC HAVE TRAILED THE INDUSTRY IN PROVIDING AFFORDABLE HOUSING IN 44 STATES
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html