Does this current economic mess have roots before Bush?
From some of the responses to my previous question, many of you have said this current mess has roots back to Carter. I think not.
I am a mortgage loan officer. Never before Bush opening up the flood gates could a client get the loans they were getting. The Community Reinvestment Act from Carter only applied to a very small number of loan applications before BUSH. It was expanded under Bush to include EVERYONE. Under Bush, if you had a pulse, you could get any money you applied for. It was ridiculous. No oversight. No regulation combined with Greenspan’s free money made it crazy. We will all be paying the price for years to come.