Right Hooks

Hillary Blames GOP for Her Husband's Mess

The economic collapse goes back to Bill's mortgage policies.

Nate Jackson · Nov. 10, 2015

Hillary Clinton, saying that the biggest issue of the 2016 election will be the economy, insists that Republicans have offered no solutions, only complaints, while also bearing the blame: “They say, ‘Well, this recovery is so slow.’ Really? Why did we need a recovery? What was the original sin here? It was bad Republican policies!”

Two points. First the “original sin” was not “bad Republican policies” but Bill Clinton’s mortgage policies. Clinton’s rules, in effect, applied affirmative action to the lending industry — which is to say the economic crisis was not a “free market failure” caused by “Republican policies” but was instead the result of socially engineered financial policy by the central government. The mortgage markets welcomed their new customers with open arms, fueling a real estate boom across the board. Eventually, the housing market of cards collapsed, which in turn led to the collapse of financial markets — just in time for Barack Obama’s election in 2008.

In 2008, Bill Clinton admitted, “I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress … to put some standards and tighten up a little on Fannie Mae and Freddie Mac.”

Second, Hillary Clinton’s comments are also an admission that over the last seven years a Democrat president’s policies are in fact why “this recovery is so slow.”

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