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Old 09-09-2012, 10:10 PM   #244
AustinChief AustinChief is offline
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Join Date: Aug 2000
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Quote:
Originally Posted by dirk digler View Post
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.
That's true but that was a culture that had also been pushed under Clinton.

I also think you are underselling the role of Fannie and Freddie they are right there with empowering the Wall Street greed. With Wall Street we EXPECT irresponsible greed, we should expect more from GSEs.
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