Enid News and Eagle
ENID, Okla. —
Letter: The blame game
When Obama blames the Bush administration for all the problems he inherited, can someone tell me why no one mentions the fact the Democrats took over the House and the Senate in Bush’s last two years and appointed Barney Frank as chairman of the Housing Commit-tee and Chris Dodd as chairman of the Banking Committee?
And just what was it that was the biggest problem when Obama took over? It was Fannie Mae and the banks who were forced to make bad loans for houses the borrowers could not afford.
It came from an act called the Community Reinvestment Act passed under Jimmy Carter, but which had not been pushed.
Frank and Dodd began to push the banks to make loans that caused the collapse.
Even though Bush made several attempts to warn them this was a not working.
So it was a Democratic bill and Democrats pushing it. That probably caused more problems than anything Bush did.