McCain & GOP own this meltdown (party affiliation, legal, democrat, conservative)

[workingclasshero]

sorry to INFORM you but these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's



1993 NAFTA---- passed by the democrat controlled congress, pushed by clinton, signed by clinton---the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.



1995 clinton (through his chief of HUD (Henry Cisneros)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-dov' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))



For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy...http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/cli (broken link)



1996 clinton signed The Telecommunications Act of 1996 (The Act was claimed to foster competition. Instead, it allowed industry consolidation whose actions reduced the number of major media companies from around 30 in 1993 to 10 in 1996, and reducing the 10 in 1996 to 6 in 2005.)



1998 clinton does not allow drilling for OUR OWN OIL



1999 Clinton DEREGULATES the banking industry



2000 clinton signs the China trade bill



2000 clinton signs the Commodity Futures Modernization Act of 2000..(which paves the way for ENRON)



2006 democrats PROMISE to lower gas prices.....they lied



2006 democrats promise to make a living wage....they lied, what did they pass??? a minimum wage increase that take 2.5 years to fully take effect that would not even equal the inflation rate for those 2.5 years,,and do they include a automatic annual cost of living increase??? NO they make sure they keep it as a VOTING SCAM



2008 the democrats led by pelosi, wont even ALLOW a vote for off shore drilling, because QUEEN PELOSI says no (funny how the democrats take the 'RIGHT of power of the people vote' on a subject.







just FACTS that the democrats don't care about the poor ,,,,just their votes

[TrippingJay]

Originally Posted by Sunshine Chick

They are trying everything they can and so far nothing has worked for them.

If Obama can go behind out backs in Iraq to undercut our government then these dems on congress have found a way to make sure this happens just before the election.

BILL CLINTON is to blame, he lifted regulations to allow low income and poor credit people to get loans they should have never got.

Of course dems do not understand money, but if there fellow dems who failed to pay their house payments on time would have honored their contracts to pay these companies would not have did this.

Some people are not made for responsibilities and 99.9% of them are democrats waiting for the rest of us to bail there sorry asses out.

Can you see this coming, next thing Nancy and Harriet will try to find a way to get these losers low rate loans so they can OWN A HOME again.

Wait and see!

These losers will be rewarded by this dem congress.

The American Dream of home ownership has been killed by democrats.

Exactly what this congress is all about, you lose so they can control you.

Then why did all these subprime loans peak from 2004 to 2006 when the Executive and Legislative branches were under Republican control?

[Donn2390]

Love to see the angry left blowing smoke up each others butts like they have a clue....

Good stuff, guys....

[quelinda]

Originally Posted by Donn2390

Love to see the angry left blowing smoke up each others butts like they have a clue....

Good stuff, guys....

Love to hear all the lies of the angry right blaming Dems for everything when they've been the party in control in the WH for 8 years and controlled the Congress for 12 years. They still control the Congress in a sense because they can and do filibuster any proposed Democratic legislation. Things will get better when there are more than 60 Dems in the Senate.

[Rggr]

Originally Posted by quelinda

Love to hear all the lies of the angry right blaming Dems for everything when they've been the party in control in the WH for 8 years and controlled the Congress for 12 years. They still control the Congress in a sense because they can and do filibuster any proposed Democratic legislation. Things will get better when there are more than 60 Dems in the Senate.

Things will not get better until we get beyond the point of the letters D and R dictating everything.

[quelinda]

Originally Posted by Rggr

Things will not get better until we get beyond the point of the letters D and R dictating everything.

It WOULD be nice if third party candidates could somehow make it in this country. I'm also tired of the Dem/Rep monopoly. Maybe an anti-trust lawsuit? haha

[ucfjtm]

Originally Posted by workingclasshero

just FACTS that the democrats don't care about the poor ,,,,just their votes

While you were bashing the Clinton admin, you left out that he and Gore removed the tax-deduction on social security payments, and implemented the tax collected on social security payouts.

= Less money taken home for those who work, and less money taken home by the seniors. And people wonder why so many over the age of 50 are voting McCain - they've seen *recently* what a Democrat administration did to their retirement.

[quelinda]

Originally Posted by workingclasshero

sorry to INFORM you but these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's

Let me guess, you got all of this from the drug addict Rush Limbaugh.

[silas777]

Originally Posted by JoeP

Neither McCain, W, Gramm, Palin or anyone else who advocated and supported the anything goes economic polices can act like they are not responsible for the current crisis.

They detest regulation and make sure that nothing exists that can help prevent these disasters.

Now thousands of hard working Americans will be out of work and the trickle down - yes trickle down will work as this crisis spreads and other hard working Americans lose their jobs and homes.

McCain can't deny this. McCain can't "reform" this because reform runs counter to what he and the party stand for on these issues.

This is the simple truth.

If they have any honesty about the their economic views, they would still defend them instead of pretending they weren't the ones who created this mess.

hey jope, do search on who the biggest beneficaries of fannie and freddie in the senate are! This isnt a regulation problem, it is a government problem. why arent we calling for the heads of those in charge of freddie and fannie like we did for ken lay of enron? hmmmm.....

[MotleyCrew]

Originally Posted by ucfjtm

Finally someone who can look further back in history than 8 years to understand the entire situation. Bonus for you.
*Anyone* who blames this economic crisis entirely on this administration are blind to what was happening the previous 8 years.. and I can't stand Bush, but at least I'm able to take an objective look at history.

If both parties do not take an objective look backwards, we really are doomed to repeat the failures.