You're an imbecile, Bush was trying to encourage the darkies to join the American dream, now dishonest, scumbag libs want to blame him for it. Bush's involvement was a measey $200 million dollars to help with down payments, that's it.Your post was the cumulative encapsulation of the FOX-BLOOMBERG-BECK news effort to rehabilitate BUSH's post BAILOUT persona. Your post is specious, at best.
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:
Try again, loser.