Community Development Financial Institution

Why do people like to blame bush alone for this rescission?

When it was more than just bush

There was the democratic congress with there government action, not the free market or capitalism. Government intervention, government spending, and the Federal Reserve’s liberal chairman, Alan Greenspan, that had killed our economy as well so how is this all bush’s fault

there was also the Treasury Department under the Clinton Administration which established the Community Development Financial Institutions Fund

which caused the destruction of the banks, the housing market was also destroyed. Prices began to go up, and millions who could not pay back their loans lost their houses Fannie Mae, Freddie Mac Scam as well.

The recession wasn’t his fault. He knew we were facing problems and asked the congress to do something about it but Barney said all was well with Fannie and Freddie and everyone preferred to believe him. It could have been too late by then already. The laws passed during the Clinton administration by both parties caused the recession.


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