September 16, 2008

Blame Bush for Lehman Brothers.

I will be the first to admit that economics is not my strongest suit. I have been looking into the financial meltdowns and mortgage crisis (they are related BTW). I know most of you do not read links, but this is one you should if you want to understand what is going on. Just to tease you, here is a quip:
Obama and Democrats on the Hill think even more regulation and more interference in the market will solve the problem their policies helped cause. For now, unarmed by the historic record, conventional wisdom is buying into their blame-business-first rhetoric and bigger-government solutions.

While government arguably has a role in helping low-income folks buy a home, Clinton went overboard by strong-arming lenders with tougher and tougher regulations, which only led to lenders taking on hundreds of billions in subprime bilge.

Market failure? Hardly. Once again, this crisis has government's fingerprints all over it.

Read the whole thing. Bush might be to blame for some things, but not this one. Even Karl Rove is off the hook.

No comments:

Consider everything here that is of original content copyrighted as of March 2005