Analyst on MSNBC blames Fannie/Freddie failure on 'regulatory neglect' going back '2 or 3 presidents

Run time: 10:15 https://www.youtube.com/watch?v=YUUrlxhHWBo   Posted on YouTube: September 08, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: September 08, 2008 By DU Member: ProfessorPlum Views on DU: 655

 
So, no special blame for the Bush II administration, apparently.

We have no choice! We have to commit socialism to bail out these financial institutions!

Socialize the lose and privatize the gains

administration. Looks like Bush's administration is trying to forgo a "big depression" by bailing out these companies who have financially over-extended themselves. One of the reasons this country experienced a devistating financial depression in the 30's was the fact that there were no regulations imposed on corporations/banks; wildcat business practices(= greed) put this country in the dumps. This time around, adding the 'outsourcing' of jobs and industry closures will really turn the US into a third world experience, anarchy included, unless something is done now. Is there hope? Only if we get rid of those people who adher to the Bush policies, and that will be only be a tiny step to remedying the situation.