Saturday, May 24, 2014

Yea, It Was Clinton, Now Shut Up.

This article would be much more accurate if it was titled "Clinton caused the financial meltdown of 2008".


Born resigned in June 1999. On Dec. 21, 2000, Clinton signed the Commodity Futures Modernization Act of 2000, which formalized the exemption of most over-the-counter derivatives from regulation as either futures or securities. Regulators were thus only dimly aware of the explosive growth in new products such as credit default swaps, which helped pump up the housing bubble and in 2008 brought down American International Group, then the world’s largest insurer. Interviewed in 2010, Clinton told ABC News that his economic team got it wrong—“and I think I was wrong to take [their advice].”

Me: So, have the democrats ever caused such damage and not tried to blame it on someone else? No.

6 comments :

  1. You just figuring this out? You're slower than I thought.

    Bill was pretty busy doing a Monica on Robert Rubin.
    Saint Ronnie Raygun laid the foundation
    Clintoon did the framing
    Chucklenuts Bush did the finishing work.

    Such a parcel of rogues.

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    1. Always had it figured out dipstick. :)

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  2. But Hillary wants to run on his record, since hers is so abysmal.

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    1. Ed, Don't ya know the stock market boomed because of the build out of the internet and Y2K software sales while his worthless butt was in residence. The average moron believes it will happen again, even if he's just there in between BJ's

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  3. Article proves that there is a gaggle of good old boys who’ve made a lucrative career embedding themselves into every aspect of our economy, and it would seem, on a rotational basis: Goldman Sachs, Treasury, Federal Reserve, Justice Department, Sally Mae, Treasury, Goldman Sachs, Federal Reserve, Freddy Mac ... ad Infinitum. It doesn’t even matter which political party holds the reigns of power. Honestly, I’m not even sure why we need more than five guys inside the beltway, other than the fact that our treasury is about to explode with so much money piling up. Gotta spend it somewhere, I suppose –may as well be on Congressional salaries, benefits, and perks the rest of us can never afford.

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    1. Very accurate Mustang. Nothing says good old boy like hanky paulson able to sell 500 million of goldman stock and pay no tax because he was being brought into the government. Or franklin raines walks with 400+ million while fannie crashes and burns. The banks are the ones really putting it to everyone. They never lose. The 4.5 ++ Trillion of 'quantative easing' was all giving the money back to the banks that they lost on these CDS and MBS gambling ventures. I'm surprised they didn't call it orgasmic stimulus.

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