WSJ:How Much Is Our Govt To Blame For Econ Freefall?

julia · 03-19-2008, 02:14 PM

Hmmmmmmm

Quote:

How Much Is Our Government To Blame For Economic Freefall?
Wall Street Journal GREG IP, JAMES R. HAGERTY and JONATHAN KARP March 19, 2008
As the falling housing market shakes financial institutions and pummels Americans in an election year, the nation's economic woes have surged to the top of voters' minds. The timely question: To what extent are politicians and regulators at fault?

Democrats are quick to blame Republicans, who were in power during the housing bubble and subprime lending frenzy. For years, America's leaders failed to restrain the markets, companies, investors and consumers from the missteps that led to the most pervasive financial crisis in decades.

But in hindsight, the failure stretches across government and across party lines. At bottom are two strong currents. From the Republican president to urban Democratic congressmen, homeownership was pushed as an overriding and unquestioned goal. And many significant attempts at regulation were obstructed by the prevailing belief that the economy did best when financial markets operated as freely as possible.

Housing Bust Fuels Blame Game - WSJ.com

Jonesy · 03-19-2008, 02:36 PM

Blame is shit unless you're using it to find the cause, so-as to prevent future occurrences.

julia · 03-19-2008, 03:27 PM

Agreed.
One would think that was a part of the adult learning process. Just not in this country, i suppose.

DRS112 · 03-19-2008, 03:33 PM

The road to hell is paved with good intentions...

kblair7 · 03-20-2008, 12:26 AM

indeed...

03-19-2008, 02:36 PM	#2 (permalink)
Jonesy Truth Lion Join Date: Oct 2007 Posts: 2,554 Thanks: 10 Thanked 32 Times in 23 Posts	Blame is shit unless you're using it to find the cause, so-as to prevent future occurrences.
	Top

03-19-2008, 03:27 PM	#3 (permalink)
julia Senior Member Join Date: Nov 2007 Posts: 3,465 Blog Entries: 7 Thanks: 232 Thanked 230 Times in 137 Posts	Agreed. One would think that was a part of the adult learning process. Just not in this country, i suppose. __________________ The candidate does not speak for the campaign.
	Top

03-19-2008, 03:33 PM	#4 (permalink)
DRS112 Administrator Join Date: Aug 2007 Posts: 6,340 My Mood: Thanks: 71 Thanked 115 Times in 85 Posts	The road to hell is paved with good intentions...
	Top

03-20-2008, 12:26 AM	#5 (permalink)
kblair7 Totally Conscienceless Join Date: Aug 2007 Posts: 639 My Mood: Thanks: 20 Thanked 0 Times in 0 Posts	indeed...
	Top

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode