Look at the data. We had a very sharp correction in 2000 - the Tech wreck. You can say that that was the correction to the Clintoon fraud.
Then in 2002 Greenspan and the financial institutions started blowing the next bubble in RE based on lies and fraud on all sides - regulators, banks, mortgage brokers, mortgage applicants, etc.
Go if you’d put aside your blinkers and look at truth, you’d see that this latest recession/depression was created entirely on Bush’s and the CONgressional Republicans’ watch.
You can’t solve any problems by burying your head further up your butt.
If you think that correction shook out all of the fraud in the system generated under the Clinton administration, you're fooling yourself. If you think the current meltdown was Bush, all Bush, data is only part of the picture. Policies enacted, without time for them to be played out are easy enough to ignore, but do play a part.
Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES Published: Thursday, September 30, 1999
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260
This mess is a bipartisan mess & the policies that led to it are decades old! If I had to pin it on to any single policy, I'd go with Johnson's guns & butter, where government spending was detached from our nation's ability to pay for it.
COLA's, making hay from the numbers of the "most selfish cohort" & creation of policies to reduce all of the cohorts following them (birth control & abortion on demand) & the changed expectations between the government & governed... it was only a matter of time. The only way out of the mess created by "the Greatest Generation" is twofold, repeal COLA & go through a painful stint of hyperinflation. Current devaluation is the run up.
Demonize Boomers, so breaking trust with them is politically viable, they should be reduced to eating dog food in their old age, because they've been a drag on our society since they were all hatched, can't wait until they're all dead & out of the way... I have an idea, give them the right to off themselves, better yet, make it a responsibility. /rant
Then in 2002 Greenspan and the financial institutions started blowing the next bubble in RE based on lies and fraud on all sides - regulators, banks, mortgage brokers, mortgage applicants, etc. Go if you’d put aside your blinkers and look at truth, you’d see that this latest recession/depression was created entirely on Bush’s and the CONgressional Republicans’ watch. You can’t solve any problems by burying your head further up your butt.
Bush, like all other Keynesian's fed the beast instead of killing it, correcting the underlying causes too much of a political hot potato! Common poll question, "do you think President X cares about you & your concerns." PUKE!
Bush inherited a population with too many with the expectation that the government has to "care" & the role of Prez is to be everyone's big Daddy. Uncle Sam has to be Uncle Sugar or the children get testy. Tough love is too mean spirited, tho it's what the population needs. "We're a wealthy society, so no one should have to struggle." Roll out the red carpet, society owes you the life of your dreams. Cradle to grave, your gobmint will "take care" of you. Intrusions into you liberties? Need to have 'em so that Uncle Sugar can better meet your needs. You wanna talk fraud, the greater fraud perpetrated was less fiscal policy & more about the rewrite of the social contract. We've been living in houses made of straw, cuz building with bricks no longer necessary with all of the protections our government claims to provide.
Go if you’d put aside your blinkers and look at truth, you’d see that this latest recession/depression was created entirely on Bush’s and the CONgressional Republicans’ watch.
Fruits of the New Deal ripened under Bush & GOP legislative watch, but it's short sighted to lay it all on them. It would have taken enormous political will to reverse the path to ruin that we've been on. Appeasement & kicking the problems down the road, hoping the other guys are stuck holding the bag when the ... stuff finally hits the fan has been the "smart" move.
Great as Regan was, deficit spending increased on his watch. Even Regan kicked the problems down the road.
You can’t solve any problems by burying your head further up your butt.
I try to be less about figuring out who needs to be blamed & more about trying to figure out workable solutions, but that's just me. Still can't resist occasionally tweaking the nose of finger pointers, specially those like you who I believe are smart enough to be an asset to proposing real & workable solutions.