Still Blaming Bush for Economic Crisis?

[Exigent]

This makes me crazy.

[AttorneyMike]

Amen.

[dakotan50sw]

In that we can't vote the ignorant, deceptive ,manipulatve ,Bast--- out, let's organize and hit them in their pocketbooks. The Dodd's, the Barney Frank's etc. I CALL for Class Action suites on gov official's. Why should these people simply collect their pension's etc. while the rest of the county suffer for their misdeeds!

[ptr250]

Remind me. Which party controlled congress in 04? Who was President?

[Trainwreck]

Yes- I still blame Bush and the members of congress that so championed all the de-regulation on Wall Street (a typically Republican stance)! It allowed greed and corruption to run rampart. I definitely will be voting for Obama.

[glb]

This administration was warned about this coming in 2001, 2002, and every year thereafter.

GA, NJ and 4 other states also pleaded with the Fed to fix this yrs ago.

Suskind published a detailed description of the 2001 meeting, where many experts came and and said that if not fixed this would become very bad. Pls look this up in NYT.

On the "Secrets of the Housing Crisis" thread, you can see more history, as well as Bush taking $200,000 from anti-legislation lobbyists, who spent $24,000,000 on those in charge (i.e. republicans) in a few years to forestall action.


Again:

You buy a used car. Expert mechanics gather to tell you that the brakes are going bad quickly. You ignore them. Car crashes, doing lots of damage.

Who is at fault: The prev owner, the panel of experts....or YOU?

Grip: get one.

[lotus90]

yes I Blame bush for lack of leadership and a lack foresight. The man will go down in history as the worst president ever.

Why is it that everything in the world that happens is not the fault of the republicans.

[logo29a]

Sounds like the people on this board need to do some fact checking. Certainly the republicans had a hand, but to think that the democrats weren't equally responsible is naive. Wasn't it the dems that shot down a bill that would have added further oversight to Fanny Mae? In fact a prominent democrat was literally in bed with Fanny Mae.

Media Mum on Barney Frank's Fannie Mae Love Connection

The republicans were the first to push reform: "In fact, here's a New York Times story from September 2003, clearly showing that the first substantive Fannie and Freddie reform from inside government came from the Bush administration"

Barney Frank's Fannie and Freddie Muddle - Sam Dealey (usnews.com)

Get your facts straight people!

[lotusforsale]

Originally Posted by logo29a

Sounds like the people on this board need to do some fact checking. Certainly the republicans had a hand, but to think that the democrats weren't equally responsible is naive. Wasn't it the dems that shot down a bill that would have added further oversight to Fanny Mae? In fact a prominent democrat was literally in bed with Fanny Mae.

Media Mum on Barney Frank's Fannie Mae Love Connection

The republicans were the first to push reform: "In fact, here's a New York Times story from September 2003, clearly showing that the first substantive Fannie and Freddie reform from inside government came from the Bush administration"

Barney Frank's Fannie and Freddie Muddle - Sam Dealey (usnews.com)

Get your facts straight people!

You won't get through. The OP's videos speak for themselves, but the libs/dems whistle past the graveyard, pretending those hearings didn't take place, and that the people didn't say what they clearly said.

[Cardinal]

Yes, vote Obama. More big government to cure what was caused by big government in the first place.

The Bush Admin. tried to fix the problem in 2003 before it surfaced, and that move was blocked by the other side of the aisle... but don't let that fact get in the way of a good story.

The video is as clear as day, but something tells me it won't make a difference to the Disciples.

[lotus90]

My problem with Republicans is that they always blame someone else.

They can never fix or do anything because someone else stopped them

Fannie and Freddie are small part of the problem

It is the masters of the universe on wall street that made bad loans and now want
help after taking huge bonuses for getting all the bad loans.

If Republicans are so responsible why do they always have record deficits.

At least Dems can balance a budget.

when Republicans create huge deficits that are taxing everyone because someone has to pay the bill

The republicans running for office where I live in Colorado will never mention that they are republicans because they are so ashamed.

[XViperDude]

Originally Posted by lotus90

At least Dems can balance a budget.

If my dog was given 50 cents of every single dollar every single person in the country earned, he could balance the budget, too.

Talk is cheap. Do something besides pray (please don't be offended by that word) that Obama will "make your life better". Ridiculous.

[Brennon]

The Bush administration has been absolutely incompetent and pathetic, but they had nothing to do with where we are today. Sure they didn't stop anything, but they weren't supposed to.

Our problems date back to 1913 and a ridiculous monetary system that can never possibly sustain itself. Granted, very few did anything then and very few are doing anything now. We can cut interest rates or issue a bailout, but that simply compounds the problem and puts a bandaid on a bullet wound. I'm embracing a recession as that is the only way this system can ever be abolished and a better one put in its place.

[drstvk]

Well, actually, we're all to blame a bit. We all want the housing market to keep going up (if we already own a house, that is). People were very happy to sell the house they bought in 1970 for $20,000 to some poor shnook for $250,000 in 2005. The only way that was happening was with loose credit for the buyer. The sellers wanted that as much as the buyer did. Now we find out that the buyer really didn't have the money. So is the seller going to offer a refund for selling his house at an inflated price? No way!! He wants the government to bail out the buyer or the bank. But how about all the sellers giving back some of the money? yeah right!

Now that same seller is complaining that his investment is going down the drain. Well, that house wasn't worth $250,000 in the first place. If the credit market had not been contrived, the price of his house would have been half. And instead of having $200,000 in the stock market he would only have had $100,000, which is exactly where that guy is today.

We all benefit when there is loose money in the economy. Clients come to me because they have the money to buy what I have to sell. If they're struggling, then I struggle. When they're flush, even the over-greedy bankers, then I make money.

Unfortunately, the piper gets paid in the end. The markets will self-correct. That's the way of the world. Could the "correction" be easier on all of us if the government did it's job? of course. But these guys are no smarter than the average Joe and they have their hand in the till, to boot. And then we get some really stupid people in power like Bush and Palin (OK, you may like them for their politics, but nearly everyone should be able to see stupidity when it's looking them in the eye). Bush Sr. was a very smart man, but his son didn't inherit his brain power. There are also a lot of stupid people in Congress and the Senate and in Freddie and Fanny, too.

But when everyone was doing well, who wanted to rock the boat. When the market collapsed because all of those home loans went to people who couldn't make the payments, now we're bitching. But the problem really started with the average home seller trying to get top dollar from his house and some creative guys who figured out how to get lots of buyers "qualified" who really weren't qualified.

There's your economics lesson in a nutshell. So now who's really to blame?

[fitfan]

Originally Posted by logo29a

Sounds like the people on this board need to do some fact checking. Certainly the republicans had a hand, but to think that the democrats weren't equally responsible is naive.

if anyone thinks there is any real difference between repubs and demos then yes - they need to have their head examined! its like debating the difference between tangerines and oranges when your trying to get an apple...

never the less - what happens under an adimistrations watch is, for the most part, duely noted as their legacy. it is leadership or lack thereof. and the circle of removing personal freedom of choice and grinding out the citizen continues. in a sense - most people are slaves as a resault of our political systems on going policy. some people are able to achieve some level of freedom, and a very very few are able to work it.

[Boondock Saint]

Originally Posted by lotus90

My problem with Republicans is that they always blame someone else.

You've got to be kidding me!!! What planet do you live on? Watch any news channel and you tell me who is getting blamed for every problem in the US right now. Democrats aren't taking the blame for anything. You're holding your hands up and saying, "We didn't do it." You're a joke. This country is run by a lot of people, Republican and Democrat. It's a fact so get used to it. The sooner democrats stop pointing fingers at everyone else the better off the country will be. Both parties played a part in our current situation whether democrats admit it or not. The problems we have are much bigger than parties. This isn't a football game, we aren't hoping only one side wins. Both sides need to compromise so that the COUNTRY wins.

[Cardinal]

Originally Posted by lotus90

It is the masters of the universe on wall street that made bad loans and now want
help after taking huge bonuses for getting all the bad loans.

And who exactly prompted them to make these loans? Who put a quota system and "CRA Rating" in place?

[Cardinal]

Originally Posted by Boondock Saint

You've got to be kidding me!!! What planet do you live on? Watch any news channel and you tell me who is getting blamed for every problem in the US right now. Democrats aren't taking the blame for anything. You're holding your hands up and saying, "We didn't do it." You're a joke. This country is run by a lot of people, Republican and Democrat. It's a fact so get used to it. The sooner democrats stop pointing fingers at everyone else the better off the country will be. Both parties played a part in our current situation whether democrats admit it or not. The problems we have are much bigger than parties. This isn't a football game, we aren't hoping only one side wins. Both sides need to compromise so that the COUNTRY wins.

Good post.

[Kjakk]

Still pushing that CRA crap? Do some homework, it was not the problem. Less than 20% of all the 'problem' loans were even under the CRA. Here, i'll get you started on your reading.

http://www.traigerlaw.com/publicatio...udy_1-7-08.pdf

As for Democrats 'blocking' Fannie reform, you need to look that up to. All that stuff happened during a republican administration with a republican congress. The committee that originated the reform even had a repub majority. If they wanted to do something about it, they could have. They did not, now they need to own up to it. Dems get some blame too, but it has to fall on the republicans who had all the time and all the power to do whatever they wanted and they did not fix it.

[Cardinal]

Funny, after going through this thread, I was overcome by an eerie sense of deja vu.