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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: tejek who wrote (262234)7/19/2010 9:37:45 PM
From: Les HRead Replies (1) of 306849
 
Portfolio limits weren't lifted until 2006.

If the economic and financial conditions were already ripe for a housing bubble, mainly low interest rates and lax regulation of the banks, it wouldn't have mattered which party was in power. They would've relaxed the conditions to try to extend the bubble. While the going was good, the Republicans protected the banks' mortgage business from the GSE's. The Democrats would've pressured the GSE's into relaxing their standards so the banks could originate more loans.

Bush, Bernanke, and Greenspan get most of the blame because they took actions while the bubble was in its formative stages (2001-2002) and when it was in full force (2003-2006).

The policies made during the 90's laid some of the foundation for the bubble but they didn't cause it and the regulators could've stopped them if they wanted to.
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