And it makes a lot of sense to me. When my girlfriend and I were marveling at housing that didn’t make sense, Clinton was president.
Yes, the market was fueled by greed and overleveraging in the secondary market for subprimes, vis-a-vis mortgaged-backed securities traded on Wall Street. But the seed was planted in the ’90s by Clinton and his social engineers. They were the political catalyst behind this slow-motion financial train wreck.
That’s from a really readable explanation from Investor Business Daily editorials explaining how Clinton era demands to house minorities forced lenders into high risk loans.
Follow Clinton’s initiatives with the Democrats failure to regulate Fannie and Freddie in 2003. You can’t blame this one on President Bush at all. He tried, and Democrats said no.
Nancy Pelosi is having a little trouble in reality, though. She still claims Democrats had no hand in the housing bubble and resulting market crash.
Imagine how damaging it would be to have both the presidential and congressional branches of government managed by the Democratic party. McCain is the necessary vote to maintain balance in November.
H/T: That rascal BrkfldDad.