oh I agree with you 100%, these idiots that belivede the lenders that told them it didnt matter that they were in over their head because the houses value would continue to rise are just as fault. In the end, theres alot of fault to go around, and thats the problem. Fault can be easily avoided if there are RULES to this whole game.
Hell, you have to comply to more regulations to sell a loaf of bread in this country than to run a bank! And thats probably the best example. Say we had no health departments, no FDA, and we sold food in this country the same way we ran our economy. I could put poison in my bread, and the 'market adjustment' would be, if enough people died, sooner or later, people would stop buying my bread. Sounds crazy, but when you bring up the idea of bringing in any more financial regulation, fiscal conservatives (ie, the rich) act like it might as well be the last step toward socialism, though they dont mind socialism when it comes to bailing out their banks!

dammit, this is all pissing me off, going to bed...

 

I believe it was the Clinton Administration that took off that rule as real estate personnel wanted more leeway for less boring business. That allowed these ninja loans to rise and all these houses and mortgages to be dumped into riskier business. At that time, obviously it made it look like the the Clinton era created more jobs (and it did with all these people seeing how easy it was to go into the real estate business) but now we are seeing the bubble burst... I am a democrat but partly where this started was those rules the Clinton era lifted off the housing market.

 

As others have mentioned, but I'll say it again, Clinton was the best republican democrat president we've ever had.

In fact he signed off on more republican penned legislation that even Ronald Reagan did in his 2 terms in office.

Blaming democrats for things Clinton signed off on is kind of like blaming Jews in Germany for what the ****'s did.

 

This crisis isn't built on just 1 incident, it's built on all these other things going around, and in part Clinton did it too. If anyone is to blame, it's all the businesses who thought they were capitalizing on the market, along with the lift of that regulation. People are crying on here about the rules and regulations, the one that signed the bill was Clinton, he did part of this job just as the banks did their job at making all this money. A lot of people are to blame, not just one. I wouldn't necessarily say that's jews and ****'s as your metaphor.