Clinton: I Predicted Wall Street Crisis in 2007

Sen. Hillary Rodham Clinton (D-N.Y.) told CBS’s “The Early Show” this morning that she predicted Wall Street’s current crisis 18 months ago.

“I talked about this for 18 months,” Clinton told CBS. “I said, ‘This is coming. We’ve got a big problem. We’ve got to figure out what to do about these mortgages. We have to rein in the banks, we need new regulation.”

Home loans and the subprime crisis were a main focus of Clinton’s Democratic primary campaign, as she pushed for mortgage reforms in economic stump speeches since 2007. Clinton told CBS she had warned of a Wall Street collapse resulting from bad mortgages, but that the Bush administration refused to listen to her.

“I gave a speech on Wall Street last December making some of those points, and the administration basically brushed me off, said, ‘You know, she’s wrong, it’s contained.’ Well, they were wrong,” Clinton said. “So now we’ve got the crisis.”