Playing the Blame Game: Bernanke or Dodd/Clinton/Frank?

Who is to blame for the economic meltdown caused by the permeation of seemingly every aspect of our economy with toxic loans and assets? In this article, the author argues that Fed Chairman Bernanke is not to blame for the meltdown. That his misguided and ineffective manipulation of interest rates were not the nail in the coffin. In fact, the author argues, it was Senator Chris Dodd, Representative Barney Frank and the Clinton administration for their meddling in the markets, forming government run lending houses, and forcing companies to make loans in order to create an unnatural number of home owners in America.

Maybe the author is right (though I don’t think the Fed is innocent). But aren’t we forgetting the final party at fault? The American public chose to take up these ridiculous loans at too good to be true rates and they paid the price for it. The government can’t ensure that each citizen makes good decisions.

In Response To: http://finance.yahoo.com/news/Dont-Blame-Ben-For-The-ibd-2179019694.html?x=0

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