Freewill -
Are you really giving the Bush adminstration a pass for eight years of failed economic policies?
I am not absolving anyone who was involved from blame. So are you giving Obama and the democrats after 3 1/2 years of doing exactly what they wanted with control of the Senate and WH and 3 years before that control of Congress NO blame?
Now, if you want to have a discussion on what caused the stock market crash which caused or was the result of the housing bubble burst then name the BUSH policy that you think caused the situation.
You see this is the problem with today's right wing Fox News brainwashed parrots. We don't argue over philosophy, we argue over facts vs. the propaganda LIES the right wing parrots chirp.
I'd be happy to school you on what caused the stock market crash and the housing bubble burst, but it will be very painful for you to face. I will tell you right now what DIDN'T cause it...it was NOT Fannie, it was NOT Freddie, it was NOT selling homes to lower income Americans and it was NOT government regulations. It was cause by a LACK of government regulation of the private sector.
But if you insist on blaming government...START HERE
Bush's 'ownership society'
"America is a stronger country every single time a family moves into a home of their own," George W. Bush said in October 2004. To achieve his vision, Bush pushed new policies encouraging homeownership, like the "zero-down-payment initiative," which was much as it sounds—a government-sponsored program that allowed people to get mortgages without a down payment. More exotic mortgages followed, including ones with no monthly payments for the first two years. Other mortgages required no documentation other than the say-so of the borrower. Absurd though these all were, they paled in comparison to the financial innovations that grew out of the mortgages—derivatives built on other derivatives, packaged and repackaged until no one could identify what they contained and how much they were, in fact, worth.
As we know by now, these instruments have brought the global financial system, improbably, to the brink of collapse.
End of the ‘Ownership Society’