From who did Obama "inherit" the economic mess?

[stcroixman]

Originally Posted by Jim in CT

stcroixman, the subprime mortgages contributed nothing?

Those wars started in 2002 and 2003, I believe. The economy did just fine until October 2008, when the subprime mortgages rocked Lehman Brothers and Bear Sterns, and the rest fell like dominoes.

I agree with you 100% that we need some smart regulation of these banks and financial instututions. I also feel that Sarbanes Oxley goes way too far, we spend a lot of time on meaningless compliance with that law.

P.S. I'm a moderare Republican who voted for Clinton and I think he was a pretty good president...

My firm does Sarbanes Oxley work. The word is it is on the chopping block. It is needless BS to the businesses. The best thing that could happen is a flat corporate tax (10% ) like in Ireland, but only for the portion of goods/services made or performed in USA. That will bring back jobs.

I am tired of every politician saying he/she will create 5 million good paying jobs. Exactly how? By giving out tax credits? Cut the tax and cut out the stupid credits.

There are millions out there who would accept 30K($15/hour)- 40K($20/hour) to work in a blue collar job I mean that respectfully too as my day did it for 40+ years, but not everyone is a President or CFO. With the economy hurting, any job is a good job.