Cognitive Economics (how things work)Uncategorized

Blame Democrats or Republicans for this Crisis?

There is, as usual, a lot of finger pointing to try and blame someone for the current financial crisis.  It is crazy to say the the Democrats did this.  It is equally crazy to say the the Republicans did this.  They both did this.  If one party is in the minority, then it is still their responsibility to blow the whistle if the other party is doing something dumb.

Both parties have been close to 50% of the house and senate for a very long time.  Just a few votes above the other party does not make the majority all powerful.  When did any of them stand up and say no to dumb ideas like the repeal of the Glas-Steagall Act?  Look that up in Wikipedia and see what it was all about.  Then you will wonder why they repealed it and why did Clinton sign to repeal it? 

So here we are.  Blame them all, they all knew about the potential fallout from ending the act since they also knew what caused the act in the first place. 

We should all consider our representatives as a whole for any action they take or do not take.