That really worked well, didn't it? No time in the history of the US was there more uninformed home buyers than during that subprime credit disaster. Many of those loans were preditory and those minorities Bush tried to help with them were not at all really to those handle complex contracts. Getting rid of down payment requirement was a recipe for disaster, as was the removal of capital gains for flipping houses. Great for short term credit bubble creation though.
Bush wasn't the only problem, obviously this was a win-win for Democrats, but he benefited short term for this long term disaster, and he was at the wheel driving with his Republican congress back when defenders claim he was fighting tooth and nail to fix it.
I bet when Obama claims that the economy is recovering slowly because Senate minority Republicans blocked some of their great jobs bills, you don't buy it (anymore than me.) Then we cant have it both ways. Either the president with his own party holds much of the responsibility or not.
I have always thought that conservatives should group Bush and Obama together, Bush-Pelosi, then Obama-Pelosi. progressivism has failed.
That's the fault of the lenders, especially F&F, not the government.
and those minorities Bush tried to help with them were not at all really to those handle complex contracts.
If so, it wasn't because no effort was made to educate them, as your own link confirms.
Getting rid of down payment requirement was a recipe for disaster, as was the removal of capital gains for flipping houses. Great for short term credit bubble creation though.
Trying to manipulate the free market in this way was a move that I don't agree with, but it didn't force F&F or any bank to make risky loans.
Bush wasn't the only problem, obviously this was a win-win for Democrats, but he benefited short term for this long term disaster, and he was at the wheel driving with his Republican congress back when defenders claim he was fighting tooth and nail to fix it.
I bet when Obama claims that the economy is recovering slowly because Senate minority Republicans blocked some of their great jobs bills, you don't buy it (anymore than me.) Then we cant have it both ways. Either the president with his own party holds much of the responsibility or not.
Apples and oranges. Obama has passed his agenda through (porkulus, Obamacare), and the result has been failure. Remember, unemployment would only be 8% if porkulus passed. If he fails to pass any more through, it will be because his own party backed away from his agenda. OTOH, the Dems had sufficient numbers to block GOP attempts to reign in F&F, and used them.
I have always thought that conservatives should group Bush and Obama together, Bush-Pelosi, then Obama-Pelosi. progressivism has failed.
That's an opinion that I can at least respect. I'll grant that he "reached across the isle" far more than he should have, especially after the 2004 elections when he had a crystal clear mandate.