Weatherweenie,
I hate to ask this, but how do you blame an economy on the existing administration when the majority of the cruch is being blamed on the sub-prime markets?? These loans have been in use for years. As of 2004, most of these types of loans were on track with standard loans in regard to foreclosure rates. But when did subprime loans become legal? During the REAGAN run! Lookup Alternative Mortgage Transaction Parity Act (AMTPA) 1982 and the Tax Reform Act (TRA) 1986. Now that these loans are available and lending institutions offered these types of loans more and more, the blame lies on the administration? What about the companies? Where is THEIR blame?
By the way:
Should this president be held accountable? There are three (3) entities of the government and nobody seems to bring the other two into the blame.
Honestly, I respect and admire the information you have given in the past on this investment site. I enjoy seeing your inputs. But this post seemed to hit a nerve and I just wanted to know why you decided to hit this administration with the blame. I blame the companies. I blame the lendors who preyed on the uneducated and uninformed.
Sorry for the rant, but I had to get it out!