Quote:
Originally Posted by Rochard
Is it really fair to say that Bush and by extension the Republican party caused this? I honestly don't believe so (although I myself have said this on GFY). I believe this recession would have happened no matter who was in office. This was caused by the people and our greed, and now we want to point fingers at everyone else.
|
It has everything to do with the people in power, and the law makers. I'm not going to say it was completely Bush's fault, but he definitely helped the process along by deregulating everything, helping pass laws that conformed to his rich buddies' interests, etc.
For example, take the 2008 crisis. If that should have devastated another economy, it should have been Canada's, due to our close ties. It didn't though. It hurt Canada's economy, but nowhere near on the scale as what it did to the US. And that's because Canada has a heavily regulated financial industry.
So yes, it can be easily blamed on whoever is in power, and writing the laws.
__________________
xMarkPro -- Ultimate Blog Network Management
Streamline your marketing operations. Centralize management of domains, pages, Wordpress blogs, sponsors, link codes, media items, sales and traffic statistics, plus more!