BUSH is being blamed for the Housing Crisis, though since 2003 he has made comment, expressed concern, and overall got shot down in Congress everytime he tried to reign in the Freddie and Fannie issue.
Obama said directly in the debate, that this is basically "Bush's fault."
http://findarticles.com/p/articles/mi_q ... _n10074556
Check the DATE! Bush was not even THINKING of running in 1995.The department also proposed setting goals of 11 percent in 1995 and 12 percent in 1996 to support housing opportunities for very low-income families.
A third goal would require the two companies to focus 18 percent of their business this year in urban and rural communities underserved by the mortgage industry. The goal would be 12 percent in 1996.
The goals would become effective after a public-comment period ending May 2.
Fannie Mae and Freddie Mac purchase about 70 percent of the nation's conventional mortgages from lenders, such as banks, and package them into securities, which they sell to investors.
By purchasing mortgages, the companies make more money available for new housing loans.
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