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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (821528)12/8/2014 11:10:07 PM
From: bentway  Read Replies (3) of 1583878
 
It happened because Bush wasn't watching the hen house.
I don't think that was it. I think Alan Greenspan had convinced Bush that the housing market and the derivatives market for mortgage backed securities would 'regulate themselves', and thus NEEDED no regulation.

Which was just an open invitation for the thieves to go to work. They sold crap mortgages that they then immediately dumped on Fannie Mae or Freddie Mac. Then the crap mortgages were blended into MBS that they sold to suckers worldwide. We know what happened.

It's what happens when you actually believe your own lies. What's history is that the global economy cratered on Bush's watch, and he OWNS it. The buck stops with HIM.
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