President Obama commented on the weak economy this week and said; "We didn't get into this mess overnight." He ought to know, he's been working on this for almost 20 years.
Obama's work began in earnest as a Community Organizer and affiliate of ACORN (Association of Community Organizations for Reform Now) when he was fighting alongside them and eventually helped win the Clinton era basket of reforms which led directly to the Subprime Crash and Financial Meltdown of 2008. ACORN and their affiliates were in the forefront of the fight to force banks to make bad loans to politically favored constituents who were otherwise unqualified to obtain mortgages. Obama was there in the 90s agitating with ACORN against these bank lending standards and then for the taxpayers to essentially assume all the risks under a huge fraud called "Fannie Mae".
But his work was not done, not by a longshot. How many realize that as a US Senator, Barack Obama sucked up tainted Fannie Mae money at a staggering rate which dwarfed any other politician? How many voters realize that Obama was referred to as the "Senator from Fannie Mae"? How many realize that the fraud known as Fannie Mae was virtually a monsterous slush fund for the Democrat Party?
Yes, Obama is right, it took years to create this mess. He ought to know, he's been there since the beginning working hard at it.