Cephus
DP Veteran
- Joined
- Mar 15, 2007
- Messages
- 31,034
- Reaction score
- 11,932
- Location
- CA
- Gender
- Male
- Political Leaning
- Slightly Conservative
I'm not saying they weren't partially responsible, but absent several government policies their irrational and excessive speculation would've been impossible.
That is true and both sides of the aisle are responsible. Clinton largely dismantled the regulation of the financial industry back in the 90s, which both allowed the .com success, but the current crash as well. Bush, who had every chance to replace the regulations, refused to do so even though he was warned of upcoming potential problems. There's plenty of blame to be spread around and it's not like people didn't see it coming. It's just that when the economy is doing well, nobody wants to actually think that it just might come to an end.