The Monster That Ate Wall Street

reaganomics started it all and and the republican ostriches let it flourish. clinton to blame? get real! the only #'s he was interested in revolved around bra sizes. reaganomics gave us a 20% prime rate, 10and1/2% unemployment and black monday, oct. 1987. this is the culmination of hollywood politics. when the dow is trading at 4,000 next year and unemplyment is back at 10 nd 1/2%, where will the geniuses who passed this bailout be? not in poltics , i hope. like the great ECONOMIST once said,"if the government were to manage the sahara desert, it would run out of sand in 5 years." the U.S. will run out of money long before that!!!!!!!!!!!!!!

NO ONE spend a dime, let it all shut down and hit the rich and roll their rip off asse's

THOSE WHO LIVE BY THE SWORD DIE BY IT

Blame, blame, blame; yea that fixes everything.

Regardless of whether credit default swaps are regulated and/or eliminated, as long as there is pressure to produce record profits quarter after quarter (Greed is good!) the financial engingeers/mad scientists will always come up with something to get around existing regulations resulting in creative accounting treatments GAAP never contemplated. By the time the regulators and the accounting profession get their arms around it, the monster will have grown to epicly monumental proportions and be found in higher concentrations in portfolios than good sense would dictate. Then the house of cards collapses and the government and tax payers are left to pick up the mess. This is not a matter of if it will occur, rather when. My prediction, in about 15 to 20 years from now and during a Republican presidential administration.

Blame Clinton!!! How convenient..... First it certainly didn???t look bad in principle at the beginning, the devil is in the details (and application). In 2000 when Bush took government he should have corrected the issue if by that time it showed was going in the wrong direction.
When you are hire to do a job, whatever it is, CEO of a company, project manager, store manager etc. if you see if what your predecessor did or approved is not working or it is being abuse or is wrong, your duty is to rectify, that???s why you were hire. Not to look for your own interest in the oil market and let things rotten and then say it was not me!!!! What a childish excuse!!!
Once you are in charge, you are in charge. Specially he had 8 years to see it coming, did not happened January 2001 after inauguration, in that case yes Clinton would have been the one to blame, not 8 years later....

enlightening article . but why does rudyh blame clinton. the republicans showed a complete lack of vision by involving us into unnecessary wars costing billions of dollars , eating up the surplus left by the clinton govt, and largely failed to pay attention to the economic situation under the moronic bush

Bart..eering without responsibility for even the smallest component, is basically selling your soul thru deception BUT there is still time to change and follow the ethical way. We are at the mercy of the powerful who have no standards, and the powerful are in every kind of systems; capitalism, communism and especially in facism. And in the family. The powerful thru Gerri... mending the block of voters in the process of hate. Love is the answer.meaning bound by responsibilty for the other.

Nowhere in the article does it state "the problem" started in 1997. The idea started in 1997, but the problems started in the past few years during the Bush term. But who was asleep at the wheel, apparently the Bush appointees like Cox, Paulson, etc. So Bush does get the blame.

Good article. It states the origin of this financial problem is 1997. If so, why is Bush getting slammed? Looks like this started on Clinton's watch. Funny how mainstream media is silent on this. On second thought, not funny - pathetic!

Everyone can blame Bush where was the oversight by our moronic do-nothing, brain dead Congress?

ABSOLUTLY, the repeal of the Glass-Paulson Act was crucial.
Also, the bush administration heded warnings several years ago about Fannie and Freddie and approache congress about BUT FRANKS and DODD cried that to try to interfere would hurt low income families trying to own a home AND that Fred and were doing OK.
Last week climbing TO THE PINNICLE OF HIPOCRICY they stand on the capital steps and BLAME Bush and the Republians.
THE MEDIA tells none of this to the public, all the bilge about anothor depression, and a citizen has to be a detective to find any truth or accurate facts to to make resoned judgements.
I was a Dairy farmer for 30 years, in the late 70,s I paid 19% interest for crop loans and 14% for my land mortgage.

We need to oust every politician that has been in office more than 12 years! I bet that would eliminate at least 2/3rds of them. Our government is corupt and we need to get NEW BLOOD and representatives who serve This United States of America instead of their own power, power and perks. Wake up and VOTE!

Everything was based on future projection of fluff, nothing concreat but the word of some slime balls. I remember it well, promise you this and you have my word, then bang; nothing; no idea of "I give my word because I have honor". No ethical standards except for the almighty self.

Bobbles I hope that you are just kidding or have you been listening to Rush again?