Amidst an economic meltdown on Wall Street, the blame game has started. From Fannie Mae to AIG, who was really responsible for the situation that the Bush Administration has now volunteered taxpayers to pick up.
Republicans blame regular Americans for this economic meltdown. They assert that Americans borrowed too much and could not pay it back causing this mess. People purchased homes or cars that they could not afford. This approach makes sense and takes the blame away from Wall Street and the Bush Administration. As anyone who has a credit card or has applied for a loan knows, it takes two to tango.
Americans have some share of the blame but most of the blame in my opinion should be directed to Wall Street and the Bush Administration. The Wall Street culture of greed has caught up. Individuals motivated by money and having little to no regulation from the Bush Administration set up the environment that we are experiencing. Read More »