Ducking Blame for Economic Crisis
Obama keeps stating that the failed policies of the last eight years are to blame for the current economic crisis. Certainly a boatload of mistakes were made by the Bush administration. However, many people, myself included, feel that the roots of the crisis go back much further.
This morning on the Today show Bill Clinton denied any responsibility for the crisis. Many economists cite the repeal of the Glass-Steagal Act as a catalyst for what followed and I said as much here in a post on The Real Estate Dispatch (http://www.biggerpockets.com/renewsblog/2008/09/22/that-fateful-day-%e2%80%93-november-12-1999/). Clinton maintains it had nothing to do with it.
See Article:
http://news.yahoo.com/s/time/20090216/us_time/08599187977400
Maybe if he hadn’t been preoccupied with chasing interns he could have paid a little more attention.
:cool: