2008 was a Bi-Partisan Debacle

This morning I was scanning through the Twitterverse in order to see what was trending. A top trend for awhile was "Marco Rubio is Unmistakable". In that subject I saw a tweet that said something to the effect that he was Unmistakable about Obama knowing what he was doing when he fixed the Republican caused recession. This is getting to be an old tired mantra that is only half true. It's only half true because the Democrats had their hand in bringing about that crisis. In 1999 Bill Clinton signed into law the repealing of the 1939 Glass/Steagal act. A law that had been enacted in an effort to avoid another depression by keeping the investment banks and the mortgage banks separate. In 1999 between House and Senate 260 Republicans and 156 Democrats voted to accept the repeal. Many economists as well as Politicians from both parties, including Bernie Sanders, feel that the repealing of Glass/Steagal was a major contributing factor to the debacle of 2008. On Sander's website he has a page on the 5 reasons Glass/Steagal Matters. So how can it be solely the fault of the Republicans if that many Democrats and a President who was a Democrat backed this action? Can anyone tell me how? President Obama claims he had to fix an economy the Republicans ruined. Oh really? Bill Clinton said when he was defending what President Obama was doing to fix the economy that it was all the Republicans fault. Oh really? Hypocrite! Does he have a bad memory because he doesn't want to accept his and his parties part of the responsibility or he just getting old? Or maybe like Hillary on the Bosnia sniper fire incident, he misspeaks.

The blame for 2008 lies squarely on both parties shoulders and until we can get both sides to admit that together, how can we fix things together? What is worrisome to me is, there hasn't been enough done to prevent another collapse, just mostly a bunch of money thrown at a crisis. Does Washington want another crisis so they can spend more fixing something that could possibly be avoided? This also sits squarely on both parties. Only now during this primary season do we see people talking about doing something like Glass/Steagal to shore things up. Eight years later, eight years. Seven years ago we should have done something to help prevent 2008 from repeating. We've been vulnerable and will continue to be so until they do something. You can thank both parties for this neglect. Both.