Just this morning, Bill Clinton made the sun come up.
Twern't no boogeyman. They gave money away to people who couldn't pay it back. If the issue was red-lining and racial discrimination, then that is the issue that should have been addressed. But liberals (both on the Left and the Right) attack the symptoms, not the root problems, and always end up making the problem worse
Is’nt there a football game on tonight?...FUBC and FUBO!
Don’t forget a certain community organizer who sued Citibank in a large city at the southern tip of Lake Michigan to force them to loan money to people who had no hope of ever paying it back.
The Community Reinvestment Act was only one of the factors, the removal of the GlassSteagall Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms was another. Repealed under Clinton in 1999, it allowed Insurance Companies, Banks, and Wall Street to all get into the same business. The Bad Mortgages by themselves were harmfull, but the sliced and diced bad mortgages sold as AAA rated securities found there way into everybodies balance sheet, that’s what really spread pain far and wide.
Unfortunately I’m afraid it’s too late to sell this story. These facts were known in 2008 but the Repubs allowed themselves and Bush to be blamed for the economic collapse. Now after 4 years and thousands of news stories it is considered common knowledge of who was to blame. Changing that perception is going to be very difficult. It certainly needs to be done but the time to do it was years ago.
It goes against the grain to believe Charlie’s analysis. Government is a disrupter. In a well ordered capitalist economy, stable corporations would issue stable paper for savers and a balanced government budget would issue (and redeem) some paper now and again to smooth out funding of capital requirements..
This is my third time harping on this! Please, please will someone contact the RNC and tell them to make a video about this subject to run in Virginia? All weekend long sleazy bill was on the tube ranting about how great his term was for economy and how if just given a little more time the o would be just as successful. BS, BS, BS.
It should read “ How Reagans economics help Clinton ride through 8 years of prosperity. Until he got what he wanted and ruined the Economy”.
"However, in the New York Post, Charlie Gasparino uses the occasion to remind everyone that the seeds of our current economic malaise were planted during the Clinton years."
That is exactly what happened.
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