Barney Franks as the Financial & Housing top guy since 2006 mid terms, is the sole cause of what happened under Bush.
Chair of the House Financial Services Committee
During the
subprime mortgage crisis, Frank was characterized as "a key deal-maker, an unlikely bridge between his party’s
left-wing base and [...]
free market conservatives" in the Bush administration.
[64][65] Hank Paulson, the
U.S. Treasury Secretary for the Bush administration, said he enjoyed Frank’s penchant for brokering deals, "he is looking to get things done and make a difference, he focuses on areas of agreement and tries to build on those."
[64]
In an interviewe quoted in the New York Times, Barney Frank acknowledged supporting the continual increase of FHA loans despite an unprecedented rise in defaults: "I don't think it's a bad thing that the bad loans occurred," he said. "It was an effort to keep prices from falling too fast. That's a policy."
http://www.nytimes.com/2009/10/09/bu...ewanted=2&_r=2