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 Post subject: Surprise! Bush ignored economy warnings
PostPosted: Mon Dec 01, 2008 2:52 pm 
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Joined: Mon Jan 07, 2008 4:36 pm
Posts: 1050
Location: Oregonia
In a disclosure that should surprise absolutely no one, this article covers some interesting details of just how 'blindly' the Bush Admin. ignored clear signs of impending economic collapse...
Everything about the Bush Admin. is so cliche and expected now, it's almost boring...ha.

www.msnbc.msn.com/id/28001417

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PostPosted: Tue Dec 02, 2008 9:13 am 
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Joined: Wed Jan 30, 2008 3:00 pm
Posts: 714
Location: Pacific Northwest
I totally agree. The Bush administration has repeatedly shown that their #1 interest is in playing to the likes of the Corporate Elite. If they tell him to do something (or not to in this case), then he does it.

However, while Bush certainly did nothing to avoid this mess, the blame cannot be squarely placed on him for getting us into it. Remember, it was the old Curly Bill Clinton Administration that had the brilliant idea to get all the poor people into nice houses that they couldn't afford, allowing the banks and lending companies to hand out whatever type of loans were necessary to get these people into houses, as well as allowing previously unlawful Interstate Securities trading with the following legislative acts that he happily signed into law:

Federal Housing Enterprises Financial Safety and Soundness Act of 1992

Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994

Gramm-Leach-Bliley Act of 1999

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