Editor's Note: Hats off to Investor's Business Daily for telling it like it is. If there is a central figure culpable for the housing industry collapse and economic meltdown of 2008, it is Bill Clinton. And, yet there he stood in Charlotte as the self-anointed free-market successor to Adam Smith, Hayek, Friedman, and the mythical John Galt.
Following are the first few paragraphs of the exceptional front page IBD Sept. 10 feature story and link to the entire article. Unless you happen to be as up to speed on this issue as the expert staff at IBD, this is a must read.
History has rarely seen anything as surreal as former President Clinton riding into Charlotte as a hero rescuing America and President Obama from failed Republican economic policies.
Clinton was the architect of the financial crisis, yet he was able to use the Democratic National Convention to polish his phony credentials as economic genius.
He brazenly warned that GOP challengers Mitt Romney and Paul Ryan would wreck the economy by going back to "the same old policies that got us in trouble in the first place."
"They want to cut taxes for high-income Americans even more than President Bush did. They want to get rid of those pesky financial regulations designed to prevent another crash and prohibit federal bailouts."
This may be Clinton's biggest whopper yet. Truth is, it was his own reckless housing policies that wrecked the economy.