For the Obama supporters who weren't able to provide an example of the Bush's deregulatory activity that led to the current crisis when I asked earlier this fall ... below I finally got my answer from Rod Dreher's Crunchy Con Blog and the AP ...
AP IMPACT: US diluted loan rules before crash [LINK]
Crunchy Con: How Bush trashed the economy [LINK]
I disagree with the assertion that this is ALL Bush's fault and that this isn't part of the longer broader problem (just like it won't be President Jindal's fault when Social Security begins to run into serious problems in 2026) ... NOTE that these are not rules roled back by the Bush Adminstration from the Clinton Administration, but proposed rules that were not enacted.
That said this is certainly a clearer explanation of the role the Bush Administration played in not stopping the train wreck earlier.
Greetings from Santorini
6 minutes ago
2 comments:
Gideon,
Check this one out, too:
http://money.cnn.com/2008/12/01/news/ignored_warnings.ap/index.htm
Covers some of the same ground as the two you posted.
http://money.cnn.com/2008/12/01/
news/ignored_warnings.ap/index.htm
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