brando

G-20’s Done: Time to Recheck Buy Signals

I concur with XerJ. Bush was certainly distracted by the war on Islamo-fascist terror against the Western world, but to blame him for the financial meltdown is lazy intelect at its nadir. The roots of the current crisis lie in the unintended consequences of socialist imposition of mandated financial measures upon institutions that would not have made such decisions without government coersion. Yes, it was magnified by the unchecked speculation in the opaque credit default swap market and that is the fault of the U.S. Congress and regulators. It's not as if people were unaware of the impending explosion, however. How many times does one have to read about the "explosion" of derivatives markets before one realizes the thing needs attention? Furthermore, calls for a tighter rein on the GSEs were manifold, yet the socialists in the U.S. Congress browbeat those making the requests into submission. It's all well documented in Congressional hearings video.