Does this man even have an IQ?: Bush’s response to the foreclosure crisis

Last fall, when President Bush belatedly realized that the foreclosure crisis was about to capsize the economy, he decided to do something about it. His administration helped set up the Hope Now alliance, a group of banking and lender types that would work with non-profit counselors to help homeowners fix ballooning and predatory loans. But this being George Bush, the operative goal was to look like he was doing something, rather than the time-tested concept of actually doing something. Turns out his alliance is housed by a financial lobbyist group, and includes members such as Countrywide Financial, also known as the Great White Loan Shark. And its executive director, Faith Schwartz, is a VP for a subprime lender Option One Mortgage…