Is The Obama Youth Brigade "The Lost Generation"?

[True Federalist (진정한 연방 주의자)]

30 year time bomb built by democrats.    

Built by Democrats?  Do you realize that the Secondary Mortgage Market Enhancement Act of 1984 was introduced in a Republican Senate and was signed into law by Reagan? That's the act that built the time bomb of having AA- or higher rated mortgage backed securities be acceptable as pension obligations.  One can argue whether certain other actions increased the tonnage when it exploded, but the time bomb itself was most definitely a Republican idea that the Democrats of the time also embraced.

[True Federalist (진정한 연방 주의자)]

Except that the incentive was there from the very beginning for the corruption of the rating agencies and the underlying mortgages.  In that respect, the method of corruption is immaterial.

[True Federalist (진정한 연방 주의자)]

Politico, the repeal of Glass-Steagal only made the mess wider and faster acting.  It was SMMEA which Reagan signed in 1984 that was ultimately responsible.  It is what cause mortgage-backed securities that never should have been rated as AA- or better to receive that grade by setting a fungible target that needed to be met.  The other causes only made things worse.  SMMEA made it possible.

[True Federalist (진정한 연방 주의자)]

Politico, the repeal of Glass-Steagal only made the mess wider and faster acting.  It was SMMEA which Reagan signed in 1984 that was ultimately responsible.  It is what cause mortgage-backed securities that never should have been rated as AA- or better to receive that grade by setting a fungible target that needed to be met.  The other causes only made things worse.  SMMEA made it possible.

Mortgage-backed securities and collateralized debt obligations alone were not the problem (e.g., plenty of other countries have not had headaches with these products); sub-prime mortgages ultimately caused the mess, and those were created in the wake of Carter's Community Reinvestment Act. This act had good intentions but created perverse incentives and unintended consequences that we only felt the full effect of decades down the road.

Which other countries treated MBS's as preferred securities for their pension funds as the US did?

Will you at least admit that both parties laid the groundwork for this mess?

That's rich coming from you.

[True Federalist (진정한 연방 주의자)]

That's rich coming from you.

I have admitted that both parties had a hand in creating this mess. Why can't you?

In your estimation the Democratic hand is much, much heavier than the Republican hand.  I don't see things that way.  Both parties contributed, but in about equal measure, with if either hand being heavy it was the Republican hand.