ORIGINAL: bigangrychicken
The economy went in the toilet thanks to the mortgage crisis. This was brought on by Clinton's "equal credit for everyone policy." W didn't help matters, that's true. But don't be a simpleton that the Dems want you to be. You can thank Bill Clinton and our people's own "spoiled brat" mentality for that.
Exactly right. Clinton pushed the subprime mortgage issues to shove minorities into houses they could barely afford as it is. Purely a political move to look good. However, with those mortgages came adjustable rates. Soon the rates climbed and they couldn't make the payments. Obama's financial consultant, Franklin Raines, was in charge of Fannie Mae during that time and pocketed millions. When it all crashed and he was kicked out, he still got a $90 Million payout. Republicans warned of it several years ago but got buried by the Democrats.
You can blame Bush and the Republicans if you want but it was the Democrats, greedy lenders, and irresponsible borrowers that caused it all. Much like the auto sales crash...........UAW priced themselves out of jobs.