This economic mess is NOT due to the mortgage meltdown! It is due to greedy individuals and corporate entities that have been aided and abetted in their quest for more and more dollars to line their already overflowing pockets by the poor economic leadership of this administration. When you combine their bottomless greed with Phil Gramm's actions and the poor economic leadership of Paulson and President Bush, you get a financial crisis. Here's a reminder of what Phil Gramm did. He's the person who put in the loopholes that allowed corporate giants like Enron to get away with their greed and abuse. He also removed the protective regulations that were put in place after the stock market crash of 1929 to prevent a recurrence by maintaining reasonable control and oversight over the financial market.
This was sent to the AC 360 Blog, but not selected for publication.
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