The Political/Economic Blame Game

First, the "causes" of major economic collapses like this one are complex, and analysis is often clouded by political beliefs–I've recently been reading two compelling and conflicting theories of what caused the Great Depression, and that was nearly 80 years ago. (With that said, I am deeply troubled by both Administrations' rush to implement their own "solutions" without any public discussion or debate about how we got into this mess, so we could find a way to get out that has some chance of actually solving the problem. I still suspect that had the Bush team stepped in last summer to stabilize the mortgage market by buying up defaulting mortgages at a discount, the whole crisis could have been averted with little cost to the taxpayer.)