Originally posted by Adam_PoE
Five out of six of sub-prime mortgages were issued by private lenders, and Frank was in the House minority during the Bush Administration, so it's a logical contortion to put the crash on his shoulders, never mind that he never personally issued any loans to anyone as TI contended.
The crash didn't occur solely from Bush's policy. It started under Clinton and even before that.
Gramm-leach-biley republicans that created the bill to repeal glass-steagal and Clinton signed it into law.
Commodity futures modernization act of 2k another republican bill signed by Clinton that allowed derivatives and mortgage swaps.
Frank & Dodd eased the requirements for fannie and freddie and opened up the supprime lending.
It was a bipartisan effort but Barney did help get sub prime loans with legislation, hence he helped make sure those loans were made available but hes not the total devil in the works.