Last week, TIME had an excellent article on the 25 people to blame for the current economic crisis. I'd say roughly 1/4 of them were what I'd call Wall St execs. That doesnt jive with Obama blaming most of this on "Wall St. Greed" and ignoring Freddie/Fannie and his own parties deregulation activity. Bill Clinton was one of the 25 and has responded. Naturally he denies any accountability.
I think its PaulS that keeps blaming Bush for deregulation, its a convenient response, but not true. You can read Big Bill's response, but I'll post one highlight and you be the judge.........seems like a pretty strong root cause to me...
"Clinton ushered out the Glass-Steagall Act, which for decades had separated commercial and investment banking, and signed the Commodity Futures Modernization Act - which exempted all derivatives, including the now-notorious credit-default swaps, from federal regulation. His administration also loosened housing rules, which added pressure on banks to lend in low-income neighborhoods."
http://news.yahoo.com/s/time/2009021...08599187977400
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