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If you are blaming the Bush admn for housing dereg: You Are Wrong!

Discussion in 'Political Debate & Discussion' started by Revmitchell, Sep 16, 2008.

  1. Revmitchell

    Revmitchell Well-Known Member
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    Thursday's edition of CNN's "American Morning" featured a "fact checking" segment on the claims former President Bill Clinton made about his accomplishments as president during his speech to the Democratic National Convention. The segment wasn't much of a "fact check" as CNN Business Correspondent Christine Romans mostly reminisced about the "glory days" of the '90's. But what she did find was that the worst part of Clinton's presidency was one of his more conservative actions: "He also signed into law a historic deregulation of the financial system, dismantling laws from the Great Depression that many say would have protected us against the current mortgage crisis."

    Other problems the correspondent found with Clinton's presidency include: "the go-go days of the '90s also gave us the dotcom boom. And when that went bust, Allan Greenspan and the Federal Reserve lowered the interest rates to ease the pain. Dropping them so low, many now see the roots of the current housing mess way back in the dotcom boom. Plus, the '90s gave us this obsession with record home ownership with Clinton as a principal cheerleader."



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