George W. Bush released Wednesday an introspective and candid review of his years in the White House. Conscious of how history will judge him, he describles the sinking feeling he felt when told there were no missiles of mass destruction.
In his book, he writes that he was wrong to believe that tax incentives and rebates in 2008 would fend off a recession. In the interview, he says Congress should have heeded his administration’s urging to regulate Fannie Mae and Freddie Mac, the government-backed lenders bailed out in 2008 to cover their mortgage losses.
“The house of cards,” Bush says, “was built on, you know, risky loans, and I was blindsided by the extent of the crisis.”