Again... Democrats took control of Congress in January, 2007. By March, Barney Frank had already pushed a GSE reform bill through the House. And again, by then it was too late. A month later, New Century went bankrupt. Republicans had 5 years to do something, they did nothing. Democrats had 3 months and got a Bill through the House, but that was too little and way too late. Idiots blame the Democrats.
Bush: We must regulate Freddy and Fannie
Democrats: racist
Bush: We must regulate Freddy and Fannie
Democrats: racist
Bush: We must regulate Freddy and Fannie
Democrats: racist
Get the point?
Yeah, the point is you left the Republican-controlled Congress completely out of that.
For 5 years they sat on their thumbs. By the time they lost control of the Congress, the real-estate markets were already beginning to crumble under the weight of record numbers of forclosures.
You ignore those 5 years when something needed to be done and scream, "but Democrats," because you're an idiot.
FYI for the whole 8 years of Bush he was wanting to regulate Freddie and Fannie and democrats even when they were the minority screamed racist and when they took control they allow the fall to happen when they could have stopped it. What better way to get a democrat in the white house lol
You remain an idiot because that's your lot in life. No, Democrats could not have stopped it. By 2007, it was too late. The train was already off the tracks.
By 2005, house prices began dropping
By 2006, a record number of foreclosures were filed
By 2007, lenders were going bankrupt, there were even more foreclosures than 2006, and the recession began
By 2008, there were more foreclosures than 2007, the housing markets collapsed, the credit markets froze, the stock market went into free fall, the economy cratered.
And you ignore all the years between 2001 through 2006 when Republicans controlled the government when GSE reform might have helped avert the disaster just so you can blame Democrats who came in after the house of cards already began tumbling.