How the Bush administration shoved the housing bubble down America's throat.

[Derek]

The Washington Compost. Ever hear of Chris Dodd? He is the one who took the most money from Fannie and Freddie. His wife is a lobbyist supporting financial overhaul right now. Obama too out the second most money from Fannie and Freddie in just 4 short years. Oh and Bush called on congress to fix the housing market collapse in 2003 because ANYONE could've seen it coming with as easy as it is to get a housing loan in this country. John McCain had his own bill to solve the problem in 2005 and the democrats stopped it. The meltdown was staged to happen just before the 2008 election as a political tool for the democrats who are in bed with the financial industry and Wall Street. It's time to stop being a democrat and look at the facts.

[Derek]

The Washington Compost. Ever hear of Chris Dodd? He is the one who took the most money from Fannie and Freddie. His wife is a lobbyist supporting financial overhaul right now. Obama too out the second most money from Fannie and Freddie in just 4 short years. Oh and Bush called on congress to fix the housing market collapse in 2003 because ANYONE could've seen it coming with as easy as it is to get a housing loan in this country. John McCain had his own bill to solve the problem in 2005 and the democrats stopped it. The meltdown was staged to happen just before the 2008 election as a political tool for the democrats who are in bed with the financial industry and Wall Street. It's time to stop being a democrat and look at the facts.

I dont know why Democrats would want to have to take over in the middle of a crisis. 

power and growing the government

[Derek]

The housing collapse was caused by democrats in Washington like Chris Dodd, Barack Obama, and presidents like Carter and Clinton who allowed such things to happen. Obama borrowed the 2nd most amount from Fannie and Freddie out of any senator and had only been there for 4 years. The fact that banks had to lend money to people who had no ability or no intention to pay them back was wrong. Bush tried to call on congress about this matter in 2003 and in 2005 McCain proposed his own bill for it. If there are any heroes on the matter it's Bush and McCain. The ones who contributed the most were Obama and Dodd which is why Dodd isn't running for reelection. The cry for help from the housing industry could've come at any time. It was designed to happen right before the 2008 election.

[Derek]

The housing collapse was caused by democrats in Washington like Chris Dodd, Barack Obama, and presidents like Carter and Clinton who allowed such things to happen. Obama borrowed the 2nd most amount from Fannie and Freddie out of any senator and had only been there for 4 years. The fact that banks had to lend money to people who had no ability or no intention to pay them back was wrong. Bush tried to call on congress about this matter in 2003 and in 2005 McCain proposed his own bill for it. If there are any heroes on the matter it's Bush and McCain. The ones who contributed the most were Obama and Dodd which is why Dodd isn't running for reelection. The cry for help from the housing industry could've come at any time. It was designed to happen right before the 2008 election.

LOL oh yea Carter, Clinton and the democrats conspired from the 1970's to the 2001 to collapse the housing market so McCain would get beat and we would Obama. Derelk please, quit posting this garbage, Jesus, that is so deranged.

You're generalizing and way over simplifying what I'm saying. Carter's policies made it easier and so did Clinton's. The Republicans were spineless on the matter and therefore partially at fault.  The card could have been used earlier but we had a great housing market in 2004 and would have been very odd to hear about. The bottom line is that it was too easy to get loans and not pay them back. That's what caused it, greedy people who expected to be entitled to loans and politicians looking the other way because they were getting sweetheart deals as well.

[Derek]

I wish the left wouldn't be so short sighted. You realize Fannie and Freddie got in no trouble at all and received a sweet heart bail out.

[Derek]

I wish the left wouldn't be so short sighted. You realize Fannie and Freddie got in no trouble at all and received a sweet heart bail out.

lol. Fannie and Freddie were contributing factors most assuredly but no where near the main culprits. the Housing boom started in 1996 as part of the 1990's expansion.

The Fed increased its growth by 1) over responding to the Asian Financial crisis of 1997 and 2) keeping rates too low, too long from 2002-2004.

The fast runupps in certain areas were do to local zoning board decisions. Add in the new financial instruments, the growth of subrime, the decline in lending standards, politicians and advocacy groups pusing home ownership to as many as possible. A slight tax code change that made debt more attractive by allowing interest to be written off on peoples taxes which sort of nudge some of the money created by the Bush tax cuts from other safer and smarter investments into investments related to housing and in and of itself encouraged more people to buy homes by making it cheaper. Together you got the makings of a crisis.

To put all the blame in what area is incorrect and a mistake.

You can blame the voters and the ones they voted for. Without political promises, there isn't a problem. If you think a politician breaking a promise is bad, just wait until they keep their promises.