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History


Housing crisis started under Carter

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Regarding the June 29 letter, “Accurate history is instructive”: OK, that's it. The writer wants accuracy — here is ”what more he can say”: The sub-prime housing crash was not, repeat not, George Bush's fault. It all started under Jimmy Carter and just got worse every year, including every president through Bush. The Bush administration tried twice to get Congress to stop the madness and the same thing happened to him that happened with all of the presidents. The name-calling started — racist and heartless congressmen. Dodd-Frank and liberals forced banks to loan to people who were not really qualified to buy and the list of things to get people into their own home just grew. Yes, the banks were told to loan money or they would be regulated out of business. This is not how free markets operate. It finally was too much for the banks (including Fannie Mae and Freddie Mac — government-run systems) and we stupidly decided to “bail them all out.” My point is stop blaming Bush for everything and give all the facts.
Margie Ellis
Stanwood

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