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What Caused the Financial Meltdown?
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<blockquote data-quote="UPS Lifer" data-source="post: 402731" data-attributes="member: 9789"><p>I had an opportunity to listen to Bill Clinton on the "View" today. </p><p></p><p>I was very impressed with him. He showed a very genuine quality of frankness and humility. He talked about the economy and that he has reflected on what he took place in his administration and repeal of the Glass-Steagall legislation. He felt that that may have had impact on this current problem.</p><p></p><p>He also believes that (and I agree) that the mortgages that are going into default need to be renegotiated between the lender and mortgagee to be made affordable. There are many, many folks who do not believe that people who got in over their head should be bailed out. I do not look at it the same way. We need to fix the foreclosures and stop the bleeding. Families should not wonder where they are going to sleep at night if they lose their house and the mortgage companies need to take responsibility to fix this along with a forceful hand from the Feds if necessary. </p><p></p><p>Clinton also said that he respects both candidates and is tired of the mud slinging on both sides. He said if it wasn't for McCain backing him on certain issue he would not have been able to accomplish key legislation. </p><p></p><p>Clinton also believes that America is going to vote BO into office. ( don't know if I buy that one) but his argument has foundation that is hard to refute. </p><p></p><p>Only time will tell on that one. </p><p></p><p>I was very impressed with him today.</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 402731, member: 9789"] I had an opportunity to listen to Bill Clinton on the "View" today. I was very impressed with him. He showed a very genuine quality of frankness and humility. He talked about the economy and that he has reflected on what he took place in his administration and repeal of the Glass-Steagall legislation. He felt that that may have had impact on this current problem. He also believes that (and I agree) that the mortgages that are going into default need to be renegotiated between the lender and mortgagee to be made affordable. There are many, many folks who do not believe that people who got in over their head should be bailed out. I do not look at it the same way. We need to fix the foreclosures and stop the bleeding. Families should not wonder where they are going to sleep at night if they lose their house and the mortgage companies need to take responsibility to fix this along with a forceful hand from the Feds if necessary. Clinton also said that he respects both candidates and is tired of the mud slinging on both sides. He said if it wasn't for McCain backing him on certain issue he would not have been able to accomplish key legislation. Clinton also believes that America is going to vote BO into office. ( don't know if I buy that one) but his argument has foundation that is hard to refute. Only time will tell on that one. I was very impressed with him today. [/QUOTE]
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