I know many are in favor of no bailout or federal intervention of anykind. The banks aren't lending like they were. Some of that is good. Buying a house was too easy. Small businesses are having trouble borrowing. Retail companies rely on credit to buy merchandise, especially for the Xmas season coming up.

Washington Mutual, the biggest risktaker perhaps, went under. Bear Stearns, Fannie, Freddie, a lot of companies have been seized, taken over, bankrupt. Washington Mutual had a run from people trying to get their money out. That was one of the biggest problems that caused the great depression was the run on the banks.

Clinton was instrumental in trying raise home ownership among minorities. Due to delinquency statistics showing
a bias towards certain minorities, an alarming percentage in those certain groups were being discriminated against for decades, even those with stellar credit histories.

Something did need to be done to level the playing field.
It would have been hard for Clinton to foresee the turns this would take. With interst rates next to nothing in the early 2000's, the greed, the unregulated Mortgage Brokers, the speculation, the inlflated appraisals.

And everyone of the companies that went under said they were fine up until the day they went under. Hard to help a ship that won't admit it's sinking.

The government has to step in now and that is how they should sell this to the American public.

Just my opinion.