Here is a link to a New York Times article printed September 30, 1999. The Bush White House has recently come under fire for creating the 2008 mortgage credit collapse. As you will read here, it had nothing to do with the Bush Administration.
N. Y. Times: Fannie Mae Eases Credit to Aid Mortgage Lending[PDF 150KB]
According to this article, the risk, which played out in 2008, was known then; but, hey, the economy was OK so why not take alittle risk?