Eaglewings
Platinum Member
But the story of how we got here is partly one of Mr. Bush’s own making, according to a review of his tenure that included interviews with dozens of current and former administration officials.How did Bush and Cheney "have us near depression economically"?This nation was built to survive a lot, it certainly wasn't easy breaking away from Britain, travelling here and then defeating them on our own soil and we did survive Bush/Cheney.... But barely. They had us near depression economically again and everyone said it would take a lot of incompetence to achieve anything near that again. Bush managed it, however.AVG-Prediction # 214:
The Presidency will change Trump a hell of a lot more than Trump will change the nation.
Trump is so stupid about foreign policy, domestic policy and even his personal life is messy. He'd be no better than Sarah Palin. At least she was a governor for a little while.
This should be good.
Wow, why even bother answering . but will start... He relaxed all of the rules for Fanny Mae .
The result was a banking system suffused with junk mortgages, the continuing losses on which are dragging down the banks and the economy.
Wow you are ignorant, go talk to your pals in the Democratic party they are the ones that relaxed the rules. Bush repeatedly tried to correct that and was rebuffed by the Democrats. They are on video tape claiming there was no problem at Fannie and Freddie. Barnie Frank ring a bell? Damn but you libs like to revise history with made up fantasy.
From his earliest days in office, Mr. Bush paired his belief that Americans do best when they own their own home with his conviction that markets do best when let alone.
He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.
Mr. Bush did foresee the danger posed by Fannie Mae andFreddie Mac, the government-sponsored mortgage finance giants. The president spent years pushing a recalcitrant Congress to toughen regulation of the companies, but was unwilling to compromise when his former Treasury secretary wanted to cut a deal. And the regulator Mr. Bush chose to oversee them — an old prep school buddy — pronounced the companies sound even as they headed toward insolvency.
As early as 2006, top advisers to Mr. Bush dismissed warnings from people inside and outside the White House that housing prices were inflated and that a foreclosure crisis was looming. And when the economy deteriorated, Mr. Bush and his team misdiagnosed the reasons and scope of the downturn; as recently as February, for example, Mr. Bush was still calling it a “rough patch.”
http://www.nytimes.com/2008/12/21/business/21admin.html?pagewanted=all