Recession Bill Clinton's fault?

Try the expansion of Community Reinvestment Act in 1995. Read the article in the link. It is from the New York Times, Sept. 30th 1999.

Bill Clinton Recession

On Wall Street and Main Street they call William Jefferson Clinton the "Comeback Kid," but it's not because of some Election Day surprise.

It's because almost everything he did regarding financial-services regulation has come back to haunt us.

If it wasn't apparent before, the former president's handiwork became clear when President Barack Obama announced his plans for sweeping financial-services reforms. Obama's efforts to bring fair dealing to the mortgage markets, rules to the derivatives marketplace and restraint to big financial companies underscore the missteps of Clinton's second term.

We had weakly regulated markets when Clinton took office, but by the time he left, they were an invitation to lawless dealing. For the ease of it, Willie Sutton would have traded his gun and mask for a briefcase and necktie.

Clinton created a fertile environment for home-lending charlatans and hiding places for Wall Street swindlers, and upset a regulatory structure that had served the financial marketplace so well for more than six decades.

http://articles.moneycentral.msn.com/Investing/Ext...

Noone can point a finger at just one person for this mess. If you want to go way back, you could start with Jimmy Carter and the CRA, which was expanded by Bill Clinton, and did nothing but grow for decades.

While the government may have forced banks to make the risky loans, noone was forced to take them, but they looked too good for irresponsible borrowers who never thought they couldn't actually afford it.

There many to blame.

i'm not republican, but i am democrat and do blame the clinton administration for urging banks to loan to more people. i don't think that was a wise decision and i think the bush administration should have done something to reverse that decision.

give me a few and i'll find a legit website detailing it.

The recession is EVERYONE'S fault.