That's because Obama took office right as the Bush Bubble Pop got its worst!
You cant blame Obama for the bad economy he inherited. Things are getting better, but that's not enough for you, is it?
SEE ?!!
This is what I'm talking about. Low information Democrats that have NO clue of what the hell is going on.
"Bush's Bubble" was actually the collapse of a Democrat mandated Sub-Prime Bubble that was put into place by policies enacted in the mid 90s by Bill Clinton.
His 1995 National Homeowners Startegy lowered Capital Requirements on loans purchased by the GSEs from 10% to 3% but he also, from 1993 to 1998 replaced all of the GSE executives and most of their board with his corrupt criminal Democrat buddies.
Ever hear of Franklin Raines ? Falsely reported BILLIONS in profits from Fannie Mae so he could meet executive bonus targets but worse ran Fannie Mae like ENRON. I guess it helped that Bill Clinton appointed ENRONS Auditor to look over Fannie Mae too.
Jamie Gorelick ? Who in 2000 asked banks at a conference to sell their CRA loans to Fannie mae " so they could turn them into securities ".
Janet Reno threatened banks that would not "play ball'' by refusing to lower their standards with litigation and fines.
By 1997 Fannie turned their first crap loan into a security and it was all down hill from their as they bought bundled bad with good and injected hundreds of Billions of toxic MBSs into the Financial Markets.
By 2004, when their regulator warned DEMOCRATS that their capital requirments were dangerously low and they were on their way to collapse Fannie Mae had purchased 70% of CountryWides crap loans as Senators like Chris Dodd took advantage of sweet heart deals from CountryWides corrupt CEO, Angelo Mozilo.
As Bush and the Republicans were trying to pass strict regulations on the GSEs Fannie and Freddie were getting into NINA loans with Democrats denying in Congressional Hearings the ENTIRE TIME that these GSEs were in trouble.
Barney Frank, Chuck Schumer, Chris Dodd, all sitting up their in Comittee denying any thing is going wrong when the GSEs loaded with corrupt Democrats are ripping off the American people and poisoning the markets.
By 2008 Fannie and Freddie held over 5 TRILLION in Alt-A, CRA , Sub-Prime, NINA, and just generally crap loans OR MBSs backed by crap loans.
It was the majority of all crap loans and MBSs in the US. Around 70%.
NOT Bush's Bubble, Bush tried 17 different times, Republican Senators in 2005 tried to pass a bill through the Senate that would have walked all of this back, but the DEMOCRATS threatened Filibuster and the Republicans needed 5 Democrat votes to make it Filibuster proof.
Not one Democrat stepped forward.
So Cmon, bring on your poor excuse for a ideology and your talking points so I can swat them down with data backed by actual historical events.