Stunningly uninformed...
According to this poll fromm CNN, Americans blame the Republicans for the current mess on Wall Street demonstrating how woefully uninformed they are on the subject.
To see who really is to blame for this mess you need look no futher than Investors Business Daily;
And more from Bloomberg.
CNN Poll: GOP takes brunt of blame for economy, Obama gains « - Blogs from CNN.comCNN Poll: GOP takes brunt of blame for economy, Obama gains
WASHINGTON (CNN) – A new CNN/Opinion Research Corporation Poll suggests that by a 2-to-1 margin, Americans blame Republicans over Democrats for the financial crisis that has swept across the country the past few weeks — one factor that may have contributed to an apparent increase in Barack Obama’s edge over John McCain in the race for the White House.
To see who really is to blame for this mess you need look no futher than Investors Business Daily;
Congress Tries To Fix What It Broke
By INVESTOR'S BUSINESS DAILY | Posted Wednesday, September 17, 2008 4:20 PM PT
Regulation: As the financial crisis spreads, denials on Capitol Hill grow more shrill. Blame an aloof President Bush, greedy Wall Street, risky capitalism — anybody but those in Congress who wrote the banking rules.
Such denials won't hold against the angry facts banging on their doors. The only question is whether the guilty party can keep up the barricade until Election Day.
A visibly annoyed House Speaker Nancy Pelosi rejected suggestions that Democrats share blame for the meltdown. "No," she snapped at reporters who dared ask.
Stick to our narrative, she scolded: The bursting of the housing bubble was another story of market failure and deregulation.
"The American people are not protected from the risk-taking and the greed of these financial institutions," she said, while calling for investigations of the industry.
Only, the risk-taking was her idea — and the idea of all the other Democrats, along with a handful of Republicans, who over the past 30 years have demonized lenders as racist and passed regulation after regulation pressuring them to make more loans to unqualified borrowers in the name of diversity.
They were the ones who screamed — "REDLINING!" — and sent banks scurrying for cover in low-income neighborhoods, where they have been forced to lower long-held industry standards for judging creditworthiness to make the subprime loans.
If they don't comply, they are threatened with stiff penalties under the Community Reinvestment Act, or CRA, a law that forces banks to make home loans to people with poor credit risks.
And more from Bloomberg.
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