BUSH ...What ever happened ?

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Obama happened....Show more

The Investigation Found the Cause of the Housing Bubble and Current Recession:

http://www.hud.gov/offices/adm/hudclips/acts/nahaIV.txt

It was Called The Affordable Housing Act of the 1990's. The allocation of 100's of Billions of $$, and the Forced Reduction of Income and Economic Requirements by Private Lenders to allow Unqualified people the "opportunity" to purchase a home.

It just happened to come to a head in 2006 when the Balloon Payment on all the Adjustable Rate Mortgages came due, and the Unqualified Loan Recipients had not done their Part by saving up over the Previous 10 years to prepare to the Rise in Interest Rate.

That is the "CAUSE." Every thing else is an Mitigating Factor or an EFFECT.

Lenders, selling off the Loans in Bundles to Mutual Funds was lousy, and nasty, but NOT Illegal to sell a legal product to a legal buyer. It made things worse, but was not the "CAUSE." Remember, the "CAUSE?", The Affordable Housing Acts of the 1990', Authored by Mr. Barney Franks?

Gonna keep reminding of that. Cause and Effect. Blaming someone or something for an EFFECT, that didn't really have Control of the Cause is Counterproductive.

The Effect of the Cause (Affordable Housing Act) is our current Recession and Depressed Housing Market and Lower Home Prices. Homeowners are Under Water, or upside down on their Loans. All are Effects.

And what do we do? We are going to Meddle in it again, and make it worse, by bailing out those underwater loans or refuse to allow banks to foreclose. MORE Mitigating Factors like the Bundling of the Loans that will only make things cost more, and Artificially Manipulate the Housing Market Extending the EFFECTS of the original Cause (what was that Cause, again? The Affordable Housing ACT of the 1990's)

Okay, enough of my Rant. I just get tired of hearing about Mr. Bush Causing this Recession. People don't understand Cause and Effect. There is nothing in Cause and Effect that Addresses BLAME.

Did he do things wrong? Sure, he should have stopped the Tax Cuts as soon as we hit a Deficit, BUT, once you Give Americans and ENTITLEMENT, you can NEVER Take it Back. Our Payroll Tax "Holiday" is now Permanent. You know that right? A failing SS System will now fail $100,000,000,000 per year SOONER.

And he allowed too much spending on wars without BUDGETING or Limiting the Expenditures. All with the Political Disease of needing to be Re-Elected.

Thanks for the chance to speak....Show more

the same people saying obama cant be blamed for things that are out of his control, are the same people blaming bush for things that are out of his control...Show more