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Originally Posted by raycarey  remind me again when clinton left office. 
you two are ridiculous. |
How does it make a difference, ray? Tell us how the regulations Clinton established, the one's requiring banks to make risky loans, were repealed. They weren't. Banks were required to make bad loans by law. It was an attempt to by the government to bring the American dream to people who couldn't afford to own a home. The theory was that if a person has a vested interest in the community (home ownership) they would be more likely to care about the community thriving and being successful. It was a good idea with good intentions
This is an example of not only corruption but it's an example of the massive, weighty, inertia of the government entering a market. It competes with private industry sucking up business offering lower rates. The government program lumbers on, indifferent, running over anything in it's path taking too long to stop when it's gone too far.
Bush tried to get the media to pay attention to this problem back in 2005. But what was the media busy doing instead? Pummeling Bush about the Iraq War. "It's Bush's fault" was the fashion.