On July 29, 2016 at 09:14, FP Crazy said...
Claiming that the Dodd-Frank act is the"real" reason (your words) is Fox News diversion tactics. I thought you were smarter than that.
It certainly contributed and certainly was ill begotten. Wall Street was the main culprit followed by Greenspan and Paulsen (and the entire sec, and Moody's, S&P.) And most of the crimes happened on Bush's watch, even though the seeds were germinating during the last year of Clinton's admin. I'm betting Bill was too involved with blowjob gate to pay much attention to his advisors. Same scenario with 911 attacks.
Whether Anyone at the federal reserve or central bank were advising W on the brewing meltdown, or if he would have listened, is anyone's guess. But I can hear W saying, "hey, uhhhh...the economy's going great! Why fix what ain't broke? Besides I've got this war I started in the Middle East, so I'm too busy to actually govern"
And that is the problem with blowjob gates or Ill begotten wars. It distracts the commander from actually governing and it also distracts the American public from knowing the real problems, issues and know governing is actually not taking place
If FannieMae/FreddieMac hadn't screwed the pooch, Wall Street would never have done what caused the collapse. Barney Frank's mantra was "I don't see a problem"- now, why would he see a problem? It was in his interest to NOT see a problem.
Don't kid yourself- the media is complicit in all of the mis-direction and drawing attention away from events that should be front and center.