Quote:
Originally Posted by Paul Markham
So it was Clinton.
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Clinton basically put a few things into motion that allowed several bad things to finally get together. Then Bush got into the White House and found the economy lagging to he dropped interest rates to the floor which spurred the housing industry and allowed banks to basically hand out subprime mortgages that had introductory rates that were very low. Of course, five years later, when the rates had gone back up some and the rates of those mortgages changed a lot of people found their house payments doubling and even tripling and everything crashed and burned.
So Clinton got the ball rolling then Bush kicked it into the goal.