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Politics : The Next President 2008
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To: Peter Dierks who wrote (2460)3/21/2008 11:06:24 PM
From: RMF   of 3215
 
Peter, if you read my post again, I think you'll notice that I WASN'T blaming the Great Depression on Hoover.

Hoover is always associated with it because he was in office when it began, but it was the Easy Credit, Light Regulation of the Coolidge Administration that started it.

In the 1920's you could get "credit" very easily and buy stocks with relatively no money down, regardless of your financial position.

In the 2000's you could get "credit" very easily and buy houses with relatively no money down, regardless of your financial position.

Do you see ANY similarity there????

Hoover DID exacerbate the situation, but only because that was the Conservative Thinking at the time.

The Conservatives have actually named an Institute after Hoover. I think it's called the Hoover Institute...
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