VolByBirth
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- Jan 5, 2008
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so without saying it, it's still your assertion that this is all the Bush administration's fault.
that simply isn't true and your only evidence to the contrary is a link to a story about some low level functionary who lost his job. The Bush administration tried several times to increase the regulation on Fannie/Freddie. Obviously they didn't try hard enough, but that's no reason to place blame solely on them.
as for your claim that a house bought 10 years ago isn't upside down, prove it.
http://www.census.gov/const/uspriceann.pdf
The only way those homes are upside down is through cash-out transactions.