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September 2, 2010
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Nevada Sen. John Ensign: Recession caused by the government

DAYTON - Sen. John Ensign, R-Nev., told a Northern Nevada Development Authority luncheon Wednesday that government is to blame for the recession.

"This recession, I believe was caused by the government," he said. "This happens sometimes when the government tries to do something good - that sounds good."

He said the goal was to help people with lower incomes realize the American dream of home ownership. The problem, he said, is that Wall Street got involved and "did some very creative things."

"That created a huge demand for more mortgages and lenders so the banks just started creating them," he …

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The Nevada Appeal Updated Sep 2, 2010 02:21AM Published Sep 2, 2010 02:19AM Copyright 2010 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.