Lawrence Lindsay, Bush's first chief economic adviser, said there was little impetus to raise alarms about the proliferation of easy credit that was helping Bush meet housing goals.<quoted text>
As someone else said:
The financial crisis was a perfect storm of liberal policy about subprime mortgages that went amuck with unscrupulous mortgage brokers, Congressmen like Barney Frank allowing us to believe everything was ok with Fannie Mae, and Wall St bundling credit default swaps that should have been monitored by the incompletent SEC. This coupled with unqualified pension fund managers trying to get something for nothing by purchasing these phoney mortgage bundles, etc. You can't leave out the American public who signed purchase agreements and mortgage loan documents that spelled out the risks very clearly but no one, at the time, cared to read the fine print.
To simply "blame Bush" is much too simplistic and naive.
"No one wanted to stop that bubble," Lindsay said. "It would have conflicted with the president's own policies."