Quote:
Originally Posted by 1399
Really?
Are you really going to tell me that for 6 of the last 8 years, NONE of Bush's "advisors" saw this coming? Are you telling me that it is perfectly excusable for these folks to have been sleep at the wheel during all of this?
The buck stops with the President.
His decisions, actions, and inactions have contributed LARGELY to this mess.
His = GWB, his administration and all who have had any kind of influence of the financial markets and situations of the last 8 years. Realistically, they are all connected to GWB, directly and indirectly.
So when the market picks up again, are you going to say, "WOW GWB was so wise, those Republicans back in 08 made the right decisions to get our country out of the mess?
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You are correct that the Treasury Secretary and the Fed chairman did not act appropriately before, during, or after the financial meltdown. In that sense, the Bush administration rightly deserves blame.
The structures and systems that were put in place (by Carter and Clinton) or kept in place (by Barney Frank & Senate Democrats) that CAUSED all this should have been torn down or severely modified. We can also blame the Bush administration for not having the temerity to tackle this project - an initiative that would have been EXTREMELY unpopular if it had been attempted beforehand.
But generally speaking, it takes years for the effects of any given economic policy to become fully known.
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