Oh, dear. Charles Gasparino is playing the blame game over the 2008 banking-system collapse.
Isn’t this subject so 2009 or 2010? Apparently not.
Charles is targeting Bill Clinton, who just so happens to be speaking tonight at the Democratic National Convention. Call it a pre-emptive hit against Clinton.
Gasparino makes some good points about the housing bubble and Clinton’s role in helping to create it. But he kind of quickly glosses over the obvious: Wall Street failed because Wall Street failed.
If you really want to understand the housing bubble and subsequent banking system mess, check out WGBH’s excellent ongoing series, via its Frontline show, “Money, Power & Wall Street.” Channel 2 ran one of the episodes last night. It was mesmerizing, as top bank executives (mostly women, it should be admirably noted) finally admit four years later exactly what happened and why all the bank risk-taking was so reckless and harmful.
Hint: They weren’t blaming Bill Clinton, the Community Reinvestment Act, Barney Frank or George W. Bush, etc., etc.