Wednesday, August 3, 2011

Bush Responsible for lending crisis and subsiquent housing Bubble burst?

That is only partially true, while they blame Bush for lower lending standards, it was something that has been happening since the Carter administration in the 70's, strengthened by Clinton and then again with Bush. This was 3 decades in the making, Frannie and Freddie is a great example of what happens when something is semi-socialized, they could buy up all the toxic mortgages with no risk involved as they were subsidized by taxpayers, so they bought up and and every loan they could, the article is too short sighted and ignores much of history to further an agenda, its too bad you fell for it

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