What you forgot to mention (because you adhere strictly to the information that you are fed by the FOX Knowledge Network[FKN]) is that TEAM BUSH was part and parcel in the real estate bubble which included Fannie & Freddie:
-June 17, 2002: President G.W. Bush sets goal of increasing minority home owners by at least 5.5 million by 2010 through billions of dollars in tax credits, subsidies and a Fannie Mae commitment of $440 billion to establish NeighborWorks America with faith based organizations.
-2003: Fannie Mae and Freddie Mac buy $81 BILLION in subprime securities.
-June 2003: Federal Reserve Chair Alan Greenspan lowers Federal Reserve's key interest rate to 1%, the lowest in 45 years.
-December 2003: President Bush signs the American Dream Downpayment Act to be implemented under the Department of Housing and Urban Development. The goal was to provide a maximum downpayment assistance grant of either $10,000 or six percent of the purchase price of the home, whichever was greater. In addition, the Bush Administration committed to reforming the homebuying process that would lower closing costs by approximately $700 per loan. It was said it would further stimulate homeownership for all Americans.
Did YOU know about any of this beforehand or did you wholly rely on unchecked news sources to support your post? If TEAM BUSH were really trying to reign in Fannie and Freddie, you wouldn't know it when YOU EXAMINE ALL OF THE FACTS.
If this isn't enough for you, then you should know that there is expanded information on Topix of this same discussion in 2011 with LINKS to BUSH White House Archives:
TOPIX--BUSH INVOLVEMENT WITH FREDDIE MAC & FANNIE MAE -- 796:
TOPIX--BUSH INVOLVEMENT WITH FREDDIE MAC & FANNIE MAE -- 807:
TOPIX--BUSH INVOLVEMENT WITH FREDDIE MAC & FANNIE MAE -- 809:
TOPIX--BUSH INVOLVEMENT WITH FREDDIE MAC & FANNIE MAE -- 810:
As ignorant as you are hideous, Troll:
Six Years of Unheeded Warnings for GSE Reform - the White House
Oct 9, 2008 - December: President Bush again warns Congress of the need to ...
Sep 24, 2008 - The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus ...
Oct 6, 2008 - The legislation passed by Congress in 2008 enabled Treasury Secretary Henry Paulson to put Fannie and Freddie into federal conservatorship ...
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.