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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (524)	9/2/2011 12:22:07 PM
From: Bearcatbob	2 Recommendations Read Replies (1) \| Respond to of 85487

Charles, I just read "Reckless Endangerment" by a NYTs reporter - so you will bow twice to the facts in such a book. You are 100% correct that the rating agencies played a major role in the melt down. Had they done their job the disaster would never have reached the magnitude that it has. I look at it this way. Fannie and Freddie and all of their Democrat managers and protectors got the ball rolling. Once it was rolling the Wall Street crowd jumped on the train. I simply ask that people forget that red meat rhetoric that Bush is cause of our financial problems. Yes it happened on Bush's watch but it started long before. It is like saying the current unemployment rate of ~9% is all Obama's fault because it has gone from ~7% when he took office. So - how should we play this game? Should we start with the fact that it is September of 2012 and things are what they are? Or - should you guys yell and point at Bush - while we simply return the favor by yelling and pointing at Obama? What is your choice? If we want to deal with the reality of September 2011 - then we can have a constructive destruction. Bob