I found the Associated Press article Despite advance warnings of financial crisis, Bush backed off proposed crackdowns on risky mortgages, in the New York Daily News.

Monday, December 1st 2008, 8:36 AM

WASHINGTON – The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.

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“Expect fallout, expect foreclosures, expect horror stories,” California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job.

How come no mention of Frank and Dodd?  Could it be that Bush alone could have prevented this crash?  I don’t know how many people are aware that the regulators mentioned in this article are part of the executive branch.  Even so, the Republicans were in control of Congress up until 2006.