Below is a very helpful video tracing the roots of the current financial mess, dating back to 1985. Judging from Steny Hoyer’s remarks in a radio address today, the Democrats have no concept of how we got here. Of course, Steny’s from the People’s Republic of Maryland, so it’s not surprising that he’s struggling with this. He even had the gall to say President Bush and GOP lawmakers “took the economic referees off” the field when they were needed most, which then allowed irresponsible mortgage lending that swelled the housing bubble until it burst.
Hat tip: Patterico’s Pontifications