Former President George W. Bush said yesterday he has a “clear conscience” about recognizing the problems that led to the financial crisis, and he blamed Congress for blocking attempts to address them.
Bush, who initially kept a low profile after leaving the White House, has been doing a series of high-profile interviews to promote his newly released memoir, “Decision Points.”
In a live interview with Matt Lauer on NBC’s “Today” show, Bush said his administration did recognize a looming problem with Fannie Mae and Freddie Mac and that the mortgage giants “were making risky investments.”
“And therefore I called for the regulation of those two entities but was thwarted at every turn by powerful forces in Capitol Hill,” Bush said.
“No question the housing bubble was fueled by government policy and that is the result of people in Congress refusing to regulate Fannie and Freddie. So my conscience is clear when it came time to recognize an impending problem.”