@52 Except that GSEs were only responsible for a sliver of the housing collapse. Greed took care of the rest.
http://rortybomb.wordpress.com/2011/11/0…
Which of course not to say that it wasn't to some degree Clinton-era errors that bears blame for the catastrophe. But the effect is hardly as large you make it seem.
I think the broader point people are making here -- and the point of the post -- is that the banks and bankers responsible were not subject to the full negative force of the market. Their bad behavior went largely unpunished in the name of the "greater good," which, to the market, is the good of the wealthy.
Also, please find me any low-level crappy office job pushing papers or answering phones that requires less than a B.A. They might exist, but there aren't many.