Do You Still Believe In....????

[ruggbutt]

What Slick fails to admit is that Clinton and her husband are the ones that set everything up for failure regarding the loans that caused the banks to go to hell. And since the Prez doesn't affect the economy it's only common sense that Congress does. And lets not forget we had a DNC majority Congress for 2 years previous to the economy taking a dump.

[callmeslick]

And since the Prez doesn't affect the economy it's only common sense that Congress does.

read your Constitution, Ruggie. NEITHER has any control over anything but interstate commerce. The economy is controlled by the sectors involved in it, all private. Government merely tinkers around the edges.

[ruggbutt]

Government merely tinkers around the edges.

Next you'll tell me that deregulation of the banks had nothing to do with the crash.

[callmeslick]

Government merely tinkers around the edges.

Next you'll tell me that deregulation of the banks had nothing to do with the crash.

No, I'll tell you that private interests took advantage of loose regulation to engage in risky investments.
The regulations should have been tighter, but what really led to the crash was the attitude that even if the risky bets failed, the Government would bail them out. So, yes, tangentally, the Government helped create the conditions, but an economy that valued short term profits over prudent long-term strategies, coupled with a faith that government wouldn't let Mom and Pop investors on Main Street go down with the ship, led to the crash. Like I say, and have said since that line Dawg likes to quote, government can tinker around the edges, but the drivers in the economy are outside government, and merely USE Congress or any given administration to their purposes.

[ruggbutt]

What Slick said was that it's the Dems fault for the deregulation. Although he tried to temper his response so as not to actually place blame.

[callmeslick]

No, the blame is with the investment community, and the banking community. Not within any party. And, if deregulation played a part, that whole business flowed from a fellow by the name of Phil Gramm(R-Texas).
Dems had nothing to do with it, the legislation was passed by Republican House, Republican Senate, and all Clinton did was not veto it(partially because it was buried in other legislation, and our President cannot, by law, have line-item veto power).