| Vertigo-X said: @fkusumot: What do you think about him blaming this on Democrats, though? Even if he didn't get the specifics right about the causes of the housing crisis, does he have a point with regards to the irresponsibility displayed by the Dems? |
No. The blame goes to government. It's not like anyone is that surprised that there was an implosion in the sub-prime market. The only thing they didn't count on is how illiquid and worthless the CDO's and Credit Swaps would become when it was time to shit or get off the pot.
The Republicans get more blame because it happened on their watch and they're getting punished for it this election. That's certainly not to say that lobbyists for investment banks weren't contributing money to the campaigns of Democrats who held key votes. This was a really big fuck-up on both sides and a repudiation of libertarian economics. On the position of regulation Democrats and Republicans are probably going to agree more so then less so, of course they'll put their own little spin on things to make it appear that they are diametrically opposed.
