Quote:
Originally Posted by RickS
I'm sure we could improve our housing policies and taxation regime, but at least they haven't started a global financial crisis recently  |
Ha ha ... gotta admit us yanks are aggressive at everything and are willing to take risks. I blame Clinton and his "wonderfully" flawed bill that allowed banks to lower the lending requirement in order to allow poor people to buy homes (thus the sub-prime angle). Bush and Obama were left holding the bag. Bush made thing worse by spending WAY to much on the war. Everyone came on board to the new style of ARM's (Adjustable Rate Mortgages) and BOOM! ... we sneezed.
Old adage still holds true though,
"When the U.S. sneezes, the world catches a cold".
OIC!