Blame Bush?

[jyro]

cliff notes:
Basically, it was under Clinton that Fannie and Freddie really began blowing the housing bubble, issuing epic amounts of mortgage-backed debt.

Bill Clinton thought he could use government to make everyone a homeowner and so naturally this ended in disaster.

Clinton used the Community Reinvestment Act signed into law by Jimmy Carter in 1977.

Bush continued the same policy








http://www.businessinsider.com/how-b...economy-2012-9

[Vertnut]

Get that common sense bullshit outta here!

[Zfan]

But the sheeple have been told it's all bush's fault, the choosen one can do no wrong! I pray to God that he is run over by a bus before he ruins this Country!!!

[jyro]

Sept 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken.


Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee.

[SMEGMA STENCH]

So what is it that th dems are so afraid of if the poor cant get affordable housing .

That theyll all just live in the getto and feed off each other and kill each other ?

i dont understand the mentality why they want this affordable housing

[krazy kris]

"affordable housing" = the ghetto

[Fastlane]

It all comes down to people feeling entitled and not wanting to take ownership or responsiobility for their actions and/or consequences. This goes for both the rise and fall of the most recent housing bubble.

Not everyone deserves to own a home. Lenders shouldn't have been coerced into making loans to people who didn't qualify. The government should've kept their hand out of the mix and let the lenders do what they do.

I witness the fallout of the Fannie and Freddie fiasco daily. Poor people are poor for a reason. Giving fiscally irresponsible folks access to subsidized credit was and will always be laughable.

[A+]

kinda off topic, im not really into politics but ive been paying attention a little, lately. What makes me lol are the people who turn the other cheek when it comes the their candidate of choice. Republicans say Obama is always blaming Bush for leaving the US in the horrible condition its in today, right? If Romney won this election, would he blame Obama for everything too? And in typical human, republican, voter, whatever fashion, we would agree and act like we didnt criticize the last president for playing the blame game? Is that how politics works? Hate everything one party says or does but act like nothing ever happened when the candidate in your party does or says the same thing?

as far as affordable housing goes, i wish they would make affordable Ferrari's since owning your own home isnt a luxury like i thought is was and i would love a Ferrari.

[Rlhay2]

Each party has long blamed the other for whatever situation they do not wish to be accountable for. It is a thieves' guild and they will say whatever/blame whomever to remain in control.