Political Quotes

“But the thing is, the President of the United States, President Bush, who I have not always been in agreement with on many things, but he was asking to regulate these GSEs, government-sponsored enterprises, Freddie Mac and Fannie Mae. And it was actually Freddie and Fannie, along with the Community Reinvestment Act, plus the low interest rates that were out there so that these subprime loans could be made. This is what created our housing bubble that just rose so quickly and then burst so rapidly that the housing prices went down. If I remember correctly, the Republicans in the House, we also, in fact, passed a bill. Is that not correct?”