Quote:
Originally Posted by Avatard
Actually, looking back historically to where the worst moves were made politically which allowed the latest financial meltdown (and a number of other economic stumbling blocks) to occur (and for that matter historically some of the worst legislation in hindsight) seems to have occurred on the Republican's watch.
The irony here is that a return to a true Republican platform is actually far closer to a Libertarian one, one that I personally favor.
It's just that the Republicans say one thing, and do another.
All politicians are hypocrites. However, the Republicans for a while now have made it into a true fucking art form.
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The worst moves that allowed the latest financial meltdown to occue were in real estate, and more specifically within Fannie Mae, Freddie Mac, and the FHA. Those conditions have been in place for decades. Bush talked about reforming them in 2003 and 2005, but nothing ever came of it. In the debate about it in 2003 Barney Frank most famously stated "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis". You can read more about Frank's specific involvement below, but I doubt it will make a difference.
http://www.boston.com/bostonglobe/ed...ancial_fiasco/