However. Please google Herb Moses. Find out a little bit about him and his relationship to Barney Frank. Learn about Christopher Dodd and Charles Schumer. Read about the history these blokes have and thier influence on the governments stance over the past 8 years with regards to lending policy.
As bad as Bush was AND HE HAS BEEN HORRIBLE. You cannot say that he did not try to reform the GSEs.
Please simply google
Bush warns about FNMA and you can see for yourself that as lame as Bush has been, this one really should not be pinned on his lame administration.
If you really want to learn more do some research on the Community Reinvestment Act. This act was enacted in 1977 but when Bill Clinton was in office, this went to a whole notha level.
Finally go ahead and google Franklin Raines, and Jim Johnson (who are key economic advisors to Obama) and who are neck deep in the mortgage debacle as well as Rahm Emanuel who served on the Board of Directors for Freddie Mac before leaving the white house. BTW Rahm opposed EVERY REFORM proposed by the Bush Administration that would have impacted Fannie and Freddie.
Now I don’t trust Paulson for half a second. However this shitstorm happened well before Paulson was in the picture. For the record and yes it is on record, Bush actually did try to push some reform on the GSEs and not just recently.
Like I said, google the stuff I wrote about and see for yourself.
