MovieChat Forums > Too Big to Fail (2011) Discussion > The blame goes farther back....

The blame goes farther back....


....to about the time of the Carter administration. Carter believed that everyone DESERVED to own a home. That mentality trickled down through the liberal ranks in the form of no, or limited income check loans for home purchases. They were buying votes from their "99% constituency" ....paying no attention to the fact that they were giving huge loans to burger flippers at McD's.

Barney Frank and his cohorts had a more recent hand in this type of activity.?

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Correct. Started by Carter. Ignored by Reagan and Bush. Put on steroids by Clinton who also repealed (with the help of Republicans in congress) Taft Hartley which put the entire banking system at risk.

The second Bush tried some weak efforts, but it was way too little way too late.

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Or, you could take it back to 1971 when the U.S. defaulted by abandoning the gold standard, allowing the Fed and its banking cartel to expand the money supply at will, making bubbles, whether they be in tech stocks, housing, or whatever, inevitable.

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Let's blame the Democrats for everything. Shhh... nobody mention the repeal of Glass–Steagall in 1999, pushed by a Republican congress. Nor the fact that southern Democrats came up with the original Glass–Steagall after the Great Depression, and it worked.

Yet again... screwed by big business. Let us again how it is the Democrats' fault...

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