So, do this mean it awrl Busher admin fawrlt that stoopid people took on more than what they could handle, and that greedy lenders had no problem accomadating them..and that it's awrl they fawrlt too, that the USA was attacked by psychotic terrorist jihadists, as a result of years of mid eastern turmoil, worsened by an oil stealing, kurd depleting rogue dictator that bankrupted his own country, and some islamic jihadist wanna be world renowned psychos...that affronted America with their own issues.<quoted text>
so if i post this, i'm using an impeccable source?
Bush drive for home ownership fueled housing bubble
As early as 2006, top advisers to 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, Bush and his team misdiagnosed the reasons and scope of the downturn. As recently as February, for example, Bush was still calling it a "rough patch."
The result was a series of piecemeal policy prescriptions that lagged behind the escalating crisis.
"There is no question we did not recognize the severity of the problems," said Al Hubbard, Bush's former chief economic adviser, who left the White House in December 2007. "Had we, we would have attacked them."
Looking back, Keith Hennessey, Bush's current chief economic adviser, said he and his colleagues had done the best they could "with the information we had at the time." But Hennessey did say he regretted that the administration had not paid more heed to the dangers of easy lending practices.
And both Paulson and his predecessor, John Snow, say the housing push went too far.
"The Bush administration took a lot of pride that home ownership had reached historic highs," Snow said during an interview. "But what we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost."
For much of the Bush presidency, the White House was preoccupied by terrorism and war; on the economic front, its pressing concerns were cutting taxes and privatizing Social Security, a government retirement and disability benefits program. The housing market was a bright spot: Ever-rising home values kept the economy humming, as owners drew down on their equity to buy consumer goods and pack their children off to college.
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.
"No one wanted to stop that bubble," Lindsay said. "It would have conflicted with the president's own policies."
"president's own policies"
and those would not be Clinton's policies as carol needs us to believe.
Nope...not ever gonna believe that bullchit.
America needs to tend to it's own business again--and apply some ETHICS while doing it, and to ell with those that just want to curse and abuse us.