Who prevented Bush from taking care of the current Financial Crisis?

Mr. Clinton Signed in the new HUD law 1995 Executive Order which began to show the effects in early 2001.



Watch this Video and make your judgment, Do not answer before watching the Video.



http://www.youtube.com/watch?v=VgctSIL8L鈥?/a>

Who prevented Bush from taking care of the current Financial Crisis?
It is 100% Democrats fault and here is more proof:



To hear today's Democrats, you'd think all this started in the last couple years. But the crisis began much earlier. The Carter-era Community Reinvestment Act forced banks to lend to uncreditworthy borrowers, mostly in minority areas.



Age-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiring banks not only to lend to uncreditworthy borrowers, but to do so based on race.



These well-intended rules were supercharged in the early 1990s by President Clinton. Despite warnings from GOP members of Congress in 1992, Clinton pushed extensive changes to the rules requiring lenders to make questionable loans. [...]



Failure to comply meant your bank might not be allowed to expand lending, add new branches or merge with other companies. Banks were given a so-called "CRA rating" that graded how diverse their lending portfolio was. [...]



In the name of diversity, banks began making many loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.



Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resales on the open market.


The session of congress during Clinton's last term was Republican dominated. In 2001 Republicans dominated congress and the executive office clear to 2006.

How many years is that for Republicans to do whatever they wanted?



The real thing that caused this problem was the Financial Modernization Act.

You know what it did? Allowed less regulation so the regulators didn't have to lie about the conditions of the financial sector like they did in the Keating scandal to allow the crash to occur.Who prevented Bush from taking care of the current Financial Crisis?
Who elected them? Your peoples fault.
Nobody. The current financial crisis is exactly what bush %26amp; his cronies wanted, so they could loot more money from US taxpayers before dumbya leaves office.Who prevented Bush from taking care of the current Financial Crisis?
bush .has had to work with a dem. majority now u can see why congress has a lower rating than bush
Ha haa you all keep pointing the finger when its a combination of thing . To late for all that . Point if you must keep living beyond your means up to you . But you need to pick a guy that is going to work with the people to get you all out of debt not deeper in debt. Keep outsourcing our jobs keep spending billions on the war keep handing over billions to the rich and soon they will own your soul . They already own your land . The only thing left with any value is you yourself . Soon they will be putting a mark of ownership on you
Democrats and things have gone downhill since they took over congress and spend their time bickering with the Bush Administration. That's why everything is so messed up, because there's no harmony and cooperation and things will only get worse. I really hope that voters learn from their mistakes, but the way things are looking, I think we might be doomed. Electing Obama will be the worst mistake and people will realize it when it's too late.
this link is the answer to your question.......



http://tw.youtube.com/watch?v=H5tZc8oH--鈥?/a>