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New Study Confirms economy wrecked by Democrat Policies

CaptainObvious

Son of Liberty
V.I.P.
http://prepperchimp.com/2015/03/13/new-study-confirms-economy-was-destroyed-by-democrat-policies/
Somebody on this forum has been arguing the main impetus behind our economy failing was the regulatory changes to the CRA...who was that person? Who has made those arguments?

A new study by the National Bureau of Economic Research finds those regulatory changes, made during the Clinton administration, had much to do with the subprime mortgage crisis and the recession.

I don't think this will stop people from still blaming Bush though, but as John Adams once said, facts are stubborn things.

Thoughts?
 

MenInTights

not a plastic bag
I remember in 2007 hearing commercials on the radio every hour from banks saying come down to qualify for a home loan with no credit check and no income verification. At the same time home prices were climbing 15%/year. Anybody that is capable of critical thinking could tell this wasn't going to end well.

Where did that policy come from?
"We have been saying for ten years that the Clinton Administration’s championing of the Community Reinvestment Act is what created the huge mortgage bubble in the first place. Then the Clinton Administration Justice Department threatened banks that they would be prosecuted on charges of discrimination if the banks didn’t grant every loan as stated income, no questions asked.'

The thing about the its Bush's fault line is it doesn't answer the question - "Yes, but why? What caused the crash?"
 
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