Quote:You can thank Bill Clinton for that one. He signed into law the repeal of 2 provisions in the Glass-Steagall Act that allowed less regulation over the banking industry that ultimately contributed heavily to the sub-prime mortgage crisis.


What's funny is that was the trigger for the economic meltdown, and that collapse is almost entirely blamed on Bush despite the fact that his administration went before congress multiple times practically begging them for more regulations because they saw trouble on the horizon, and in every instance, they were rebuffed by luminaries like Barney Frank who said repeatedly that there was nothing to be concerned about and no action was needed.


Subsequently, we've seen the current administration blaming Bush for pretty much everything bad in the world. From my perspective, the Bush administration wasn't much better than the current one. They created a lot of problems we're still not beyond, but in the end, whatever mess they created was accelerated by the current bunch.