- Joined
- Jul 23, 2004
- Messages
- 70,163
- Reaction score
- 199
- Points
- 73
Deregulation during the Bush years allowed the sub-prime mortgage industry to cause a financial disaster in the latter months of 2008 IIRC. You remember TARP 1, right? There is a reason it had to be done.
The reason it had to be done was because in 2003, 2005 and 2007, McCain, Dole and others tried to put forth legislation that would build up the regulations specifically on Fannie and Freddie.....2003, it fell flat on the floor, 2005 and 2007 it didn't get out of committee....
*sighs* theres all kinds of blame to go around.