Thread: Could Bush have prevented the whole financial crisis?

Doubtful.

Much of our current financial mess can be traced back to virtually unlimited mortgage lending practices back in the 90s -- practices that were pushed on lenders by the Clinton Administration in the name of "fairness" and "helping the less fortunate."

Under pressure from the Clinton regime, mortgage lenders were giving mortgages to people who clearly did not financially qualify for them.

Now we are reaping the terrible results of this.
.

Oh he probably could have prevented this crisis if he'd had
more time in office. But, time ran out, and Obama took off
with his inexperienced mind and now we have chaos in
America. We may never recover now.

No he couldn't have stopped it.

There were too many greedy people in the country to stop the momentum of overextending themselves with unreasonable loans. and greedy people giving out the bad loans thinking they'd be able to get rich in a few years when the interest rates went up on those interest only loans.

Yes, he could've done more, but Clinton could've done less:

http://www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902626.html

Last paragraph:

In 1995, President Bill Clinton's HUD agreed to let Fannie and Freddie get affordable-housing credit for buying subprime securities that included loans to low-income borrowers. The idea was that subprime lending benefited many borrowers who did not qualify for conventional loans. HUD expected that Freddie and Fannie would impose their high lending standards on subprime lenders.