Quote:
Originally Posted by trifecta124
The entire economic failure that began in 2008 was caused by a housing bubble caused by policies implemented by Barney Frank and Chris Dodd in the mid 1990's and pushed through by the Clinton administration. Ezra Klein is nothing more than an elistist liberal hack similar to most other "progressive" journalists. They make up the facts as they go along. People who make 50k a year have no business buying a 750k home. That is what was going on. Bush was a failure, but his letting us down has noe led to a left wing extremist being voted into the White House. Luckily, most people have caught on to the nonsensical **** that he has been pulling rather quickly. His healthcare plan is not only an epic failure, it was also illegal. No one know what is in the ****ing thing, yourself included. Please enjoy the coverage of the DNC tonight on MSNBC. You can listen to Al Sharpton and Chris Matthews opine all night.
|
http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act
President Bill Clinton’s signing statement for the GLBA summarized the established argument for repealing Glass-Steagall Section’s 20 and 32 in stating that this change, and the GLBA’s amendments to the Bank Holding Company Act, would “enhance the stability of our financial services system” by permitting financial firms to “diversify their product offerings and thus their sources of revenue” and make financial firms “better equipped to compete in global financial markets."
yeah, that....uh...went well.
altho bush deserves a share of criticism (two wars for starters) he certainly didn't sign the glass-steagall changes. that bubble that burst while he was in office was already growing thanks to the above, brought to you by-BOTH PARTIES,and signed into law by the hero of the democratic party, bill clinton.
so, altho it's fashionable to beat the 'blame bush' drums, that's far from the entire story. i know, i know...shocking. there's nothing politicians enjoy more than garnering praise when things are good, and pointing fingers at everyone else when it's bad.