Wednesday, September 5, 2012

Bubba and the crash

Financial reporter, Charlie Gasparino:

Clinton won’t mention a whole bunch of inconvenient facts — about what brought the prosperity of the 1990s, and how he himself helped put America on the path to the 2008 financial crisis.
It’s an absurd distortion of reality that the Bush-era tax cuts or spending on Iraq were even remotely responsible for the 2008 banking collapse and the Great Recession — though both claims are now core to the left’s talking points in defense of President Obama’s failures as president (and largely unchallenged by a sympathetic media).
Yet the reality of what caused the banking collapse has the fingerprints of tonight’s keynote speaker all over it.
Clinton pushed hard for riskier home loans and ushered in the repeal of Glass-Steagall.

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