Can we shed a little light on the economic meltdown?December 23, 2008
After listening to Rush with his nutty conspiracy (democrats destroyed the economy) I thought it would be fitting that I highlight what the Bush administration felt happened to cause our economic meltdown.
Al Hubbard, economic adviser to President Bush: “There is no question we did not recognize the severity of the problem.”
Former Treasury Secretary John W. Snow, on the housing push that went too far: “What we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost.”
Roy Cooper, Attorney General of North Carolina, on the administration’s push to block states’ efforts to use consumer protection laws to crack down on predatory lending: “They took 50 sheriffs off the beat at a time when lending was becoming the Wild West.”
Andrew H. Card, Bush’s former chief of staff, on the decision to approve a predatory lender as ambassador to the Netherlands: “Maybe I was asleep at the switch.”
President Bush: “It turns out this isn’t one of the presidencies where you ride off into the sunset , you know, kind of waving goodbye.”
Oh well, there goes Rush Limbaugh’s nuttery. I guess some one was a sleep at the switch — Bush.