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Old 09-09-2012, 09:51 PM   #243
dirk digler dirk digler is offline
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Join Date: Jul 2003
Location: Clinton, MO
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Quote:
Originally Posted by AustinChief View Post
Did you bother reading beyond the headline? the only substantial bits are about the fact that Bush failed to stop an out of control process that started before he took office. The author also claims that Bush encouraged it... yet points out that he in fact wanted to reign it in but was blocked by Congress. As has already been stated. The blame on Bush for not doing more to stop it is a valid one. But a weak ass argument when it is clear where it all started.

You(not you in particular, but anyone) are lying to yourself if you can't see that this has little to nothing to do with Bush. To be fair, it has little to with Clinton even though most of it went through during his time in office. The bipartisan blame is at the doorsteps of Barney Frank and Phil Gramm. Both succeeded in setting the stage for this back in the 90s. Of course, there are many more factors to blame as well, some American, many global.. but if we are pointing fingers at individuals.. those two get first point.
Of course and I am not saying it was all his fault, it certainly wasn't. Clinton shares blame for repealing Glass-Stegall.

The majority of the blame goes to greedy Wall Street firms and banks.

I will add though that your statement about Bush failing to stop an out of control process is a little off. He encouraged it by pushing for no-down payment mortgages, cutting regulations and putting people in charge of the SEC that looked the other way.
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