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Old 11-16-2021, 11:25 AM
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Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by GetAClue View Post
The crash in 2008 was due to the lowering of the lending standards years earlier by Carter and Clinton. It was precipitated by the Democrat led Congress by allowing Fanny and Freddie to peddle worthless mortgage securities to unsuspecting buyers. When the Bush admin warned the Barney Frank led House Financial Services Committee of the impending financial crises, they were dismissed out of hand.

In short, the crises of 2008 was NOT of actions done in 2008, but was a crescendo of actions that had been brewing since the Carter administration's policy of pushing unsecured loans for low income families.
Actually no it was lowering taxes on the rich. Same thing that caused recession in the 80s. If it hadn't been for elder Bush raising them a bit, we would have had a depression.
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