Originally Posted by yarmonymatoid
Helio, I have never claimed to have all the answers. However, how can one lay blame on one individual for everything, when there is hard contrary evidence. How is it possible to debate if the evidence is simply ignored.
Look, I enjoy good douche-baggery as much as anyone, and have committed my share of crimes under its banner. And while I'm not saying you've practiced it here (you came short of the crossing point), I object in this instance to the assertion that non-regulation of Fannie/Freddie(**) is 1) solely the responsibility of Democrats, and 2) a disproportionately obvious causal factor in the recession.
(**) I include the Community Reinvestment Act in this corellary.
Some of the smartest people I read about economics have said "We don't know how we got here." I rather believe that. The causal factors of this recession won't be understood for another few years, and won't be completely understood for a generation (assuming we don't destroy the world economy and reduce ourselves to cave-people before 2010).
It's one thing to paint Barney Frank as a guy who stood in the way of some stuff that possibly could have reduced some of today's pain, but in 2003, the Congress was Republican. So that disengenuousness flies in the face of honesty to me, in this instance. Of course, this deregulation of investment banks being separated from other banking traces back to Clinton (sponsored by Republicans). It could go back to Lyndon Johnson or Ronald Reagan and so forth.
I just dislike the 'gotcha' aspect of your tone in this. No one human failing created this. It took a mural of human failings to get here.