"Bull by the Horns: Fighting to Save Main Street from Wall Street," author Shelia Bair blames the US government for rescuing big banks over helping struggling homeowners. The former FDIC chairman talks to Christine about her new book about the 2008 financial collapse and points out where she thinks the major mistakes were.
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The 2008 financial collapse began when the 110th US Congress passed the FY08 budget in 2007. If you chart the collapse month by month it is clear. The 110th US Congress was Democrat led in both Houses. Congressman Obama was one of the Democrats that voted FOR that budget and it included spending projections thru 2012. After the Democrats passed it, it was then sent to President Bush for signature. Had the Democrats not passed the FY08 budget, it never would have made it to President Bush for signature. This is 100% verifiable. So, who created this mess?
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