C'mon Man Wrote:
Dec 05, 2012 10:33 PM
“Just the Facts: The Bush Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs “For many years the President Bush and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.