Quote:

(remember, Rubin was one of the key causes of this current financial situation) but comfortable with the second.



and before people crucify me on that comment, please find below a summary list of the people / parties i DO find responsible for this mess


1) Jimmy Carter for enacting the CRA act
2) Alan Greenspan for overshooting rate cuts between 2001-2004
3) Rubin / GOP Congress / and Clinton (to a lesser extent) for revoking Glass-Steagell (allowing banks to securitize mortgages)
4) Barney Frank and Democratic Congress for removing policies at Freddie and Fannie and forcing them to accept and extend credit to subprime lenders
5) the global explosion of risk and foreign banks and pension funds for creating insatiable demand for CDO/CLO/Subprime loans

and most of all

6) Predatory lending standards across the world that allowed anyone to get a loan.


as you can see, this is not a one party political issue, but everyone as a whole