The credit crisis came at the weakest possible moment of the American political cycle, the last period of an outgoing Presidency. The first serious sign that subprime mortgages were toxic came in the middle of 2007, approximately six months before the start of the 2008 primaries. The first crisis came in August 2007. When the President put the Paulson Bill to Congress, his authority was at its lowest, and he initially failed to persuade Congress to pass the Bill…
October 9th, 2008 | William Rees-Mogg | 1 comment | Continued
