Socialist Progressives
In reply to the discussion: This message was self-deleted by its author [View all]DhhD
(4,695 posts)The collapse of the stock market was well underway under Clinton's second term.
https://en.wikipedia.org/wiki/Dot-com_bubble
Salaries of Americans and consumer prices had not exploded yet so it was not as obvious. But by 2007 Bush tax cuts and prices on consumers were outrageously changed. Mostly we had no banking regulations so the Neo-liberals knew that they could extract a bailout from you and me. Why? Bill Clinton had taken down Glass-Steagall in 1998. The Clinton's had learned a lesson from the Savings and Loan debacle of the 1980's. Bill could protect the bankers while Bush extracted the bailout again. Neil Bush had failed at it in the 1980's. New Democrats and Republican appointees in the Obama Administration showed America what being a third way New Democrat was really all about: Putting another Clinton in the Oval Office.