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Governor Perry Discusses ’08 Financial Crisis

Rick_Perry_by_Gage_Skidmore_9From Breitbart,

The speech Perry delivered on Wednesday was noteworthy on its own, separate from any pull-up challenges that were issued afterwards. The event was sponsored by the Committee to Unleash Prosperity, a fiscal conservative group founded by Steve Forbes, Larry Kudlow, Art Laffer and Steven Moore, and Perry’s remarks included a detailed discussion of the role that former President Bill Clinton’s policies played in the housing crisis, as well as several proposals for reforming Wall Street.

Perry began his remarks by describing the events that led up to the recent housing crisis, highlighting some of the bad decisions that preceded it. “Banks made a lot of mistakes regarding risk management leading up to the crisis,” he said. “Some financiers intentionally misled investors and customers. They pushed people into deceptive financial products.”

Worse, he explained, was how instead of the banks and Wall Street being punished for their poor choices it was “average Americans who paid a tremendous price.”

“To be quite frank, they were screwed,” continued Perry. “They were not bailed out. They lost jobs, homes and savings. And they have every right to still be angry about it.”

However, added Perry, Wall Street was not completely at fault. “I am tired of politicians bashing Wall Street while ignoring the sins of Washington, D.C.,” said Perry. “It was Washington regulators who fell asleep at the switch. It was Washington politicians who changed laws that created the housing crisis.”

Photo Credit: Gage Skidmore

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