I read somewhere that it was Obama, in fact, who set the stage for fiscal meltdown. Does anyone have the link to that?
Obama had a role, through his work to pressure banks and mortgage companies to make the high risk loans that are part of the reason that this became such a mess. Much as we might like to nail him with it, however, there’s no way he could be considered the primary cause of the meltdown.
It took both parties, both houses of Congress and a couple of presidents, along with a Federal Reserve chairman, to really foul things up.
The Repubs are more complicit in the deregulation aspects, but the Dems are largely responsible for the Fannie Mae/Freddie Mac debacle, quashing regulation efforts, propping up corrupt FM/FM executives and trying to cover up their own incompetence/corruption.
The Dems have been particularly despicable, but there are many heads in Washington that should roll over this. Until the practices that created this mess are changed, it will continue. And leaving those who created it to clean it up is not the way to do it.
See “Fox Guards Henhouse”...