Posted on 01/02/2014 9:02:19 PM PST by Kevin in California
Take that "O!" LMAO....
Just tell us.
What’s your excuse for not knowing the source of the financial disasters?
OMGosh.... laughing out loud here.... that’s incredible... thank you so much!
I don’t think he is blaming W for the mortgage debacle. BUT, his response to it made a horrible situation worse. Plus, Bush spent like a drunken Marxist, which led to the disillusionment which helped bring us Chairman Maobama. Bob
You mean bad home loans?
Bush home Ownership links for minorities with bad credit:
Bush pushes minority homeownership (FR post | June 15, 2002 | By KATHY A. GAMBRELL)
Bush seeks to increase minority homeownership (FR post USA Today ^ | 1-20-04 | Thomas Fogarty )
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
Compassional conservative was proved to be a huge failure under Bush as all those minorities voted Democrat by 2008 after they lost all those homes promoted above.
”More and more people own their homes in America today. Yet we have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. That’s a home ownership gap; a gap that we got to work together to close. And by the end of this decade we’ll increase the number of minority homeowners (future Obama voters ) by 5.5 million families.
One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You don’t have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up). “
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
I like him! He certainly nailed two of the biggest failings in DC in our time.
ping
In my opinion these are the key pieces of legislation: both brought in under the Clinton administration.
The CRA forced banks to make loans effectively on the basis of skin color, rather than the ability to repay.
The GLB act tied a bank's ability to grow to their performance in CRA exams, and also allowed them to merge savings and investment functions - and so become 'too big to fail'.
I can't find that Bush did anything to try and rein in the trainwreck set in motion by the CRA and GLB acts - in fact he tried to capitalize on it - but we can't say he was the source.
Oops, posted too soon.
The CRA (of course) goes back to the infamous Carter: I should have made it clear that I was referring to the regulatory changes to the CRA brought in under Clinton.
Jeopardy ping! Soon to be a classic clip....
The headline says it’s “subtle”.... Really? The publisher seems to have a low expectation of their readership.
True.
But, it was Bush who changed the US banking laws to allow Mexican illegal aliens to apply for, and obtain credit cards, auto, home and business loans using only the phony-baloney Matricula Consular ID cards.
He also changed the laws to allow US banks to claim CRA credits for providing home loans to Mexican illegal aliens.
I can't find that Bush did anything to try and rein in the trainwreck set in motion by the CRA and GLB acts - in fact he tried to capitalize on it - but we can't say he was the source.
We can say, with some certainty that is was Bush's policies put into place during his first term that set into motion the real estate crash suffered during the latter half of his second term.
For the details, visit my FR home page.
Its a real credibility problem to try to claim that Bush bear no responsibility for the BAD economy after his 8 years. It didn't sell in 2008 nor could it.
I mean we would never buy that if Dems try that in 2016.
RE :”I can't find that Bush did anything to try and rein in the trainwreck set in motion by the CRA and GLB acts - in fact he tried to capitalize on it - but we can't say he was the source. “
I can see that happening, but that supports my original point.
Given Bush and Rove went through such great pains to take credit for the wrong people getting loans, I assume to win 2004, then that made the counter narrative spread by talk radio and repeated by many here that Bush either knew nothing about it, or fought against it, completely unbelievable.
Obama has been in office for five years, got re-elected, so however the economy blew up in 2008 he still owns todays problems, its not 2009 anymore
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