Word: blaming
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Amid the current economic contraction, there is one thing in abundant supply: blame. Equally abundant is the desire to blame George W. Bush for the recession. Indeed, writers on these pages and others have used our shrinking economy as an excuse to indict President Obama’s predecessor on everything from poor health care to climate change to racism...
...There is no denying that previous administrations helped to create the conditions from which our current crisis stems, but a closer inspection suggests that Democrats deserve the most blame. Both the Bush and Clinton administrations (but especially Clinton’s) recklessly pushed to expand home ownership, fuelling the bubble in housing prices and its collapse. Former President Bush’s failure to regulate Fannie Mae and Freddie Mac permitted the crisis in subprime mortgages to build, though congressional Democrats bear the lion’s share of blame for their obstructionism: They opposed a Bush administration proposal...
...Bush’s actions on taxation, trade, health care, education, and climate more likely cushioned the economic collapse than contributed to it. The Bush administration, the Clinton administration and both Republican and Democratic Congresses all deserve blame for their failures in financial market regulation and shortsighted home ownership initiatives. To blame Bush’s entire domestic policy agenda for the economic crisis, however, mistakes correlation for causation in the worst...
...terms of the alignment of our role and function with advancements in global capital markets.” Editorialists, pundits, and lawmakers alike have scrutinized this sentiment over the past year, debating the role that credit-rating agencies played in the subprime crisis. Instead of the blame game it used to be, this debate has recently become a more fruitful discussion between the public and private sectors—policymakers and rating agencies—about how to better design the process of rating securities and minimize conflicts of interest. “The status quo isn?...
...statement, SASC chairman Senator Carl Levin said the report "represents a condemnation of both the Bush Administration's interrogation policies and of senior Administration officials who attempted to shift the blame for abuse - such as that seen at Abu Ghraib, Guantánamo Bay and Afghanistan - to low-ranking soldiers...