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Not even Bill Clinton thinks it was the Republicans that got us into this finanical crisis. The Iraq war yes. Research.
Anyone can understand why Clinton is not blaming the Repubicans... That is because Clinton himself shares a lot of the blame... he won't sling mud on this issue because he is totally vulnerable to return fire...
Maybe you should do some research of your own... Some topics you may be ignorant of:
CRA
Glass-Stegal Act, and Phil Graham legislation to overturn it, and how that led in large part to the mess we are in
Inadequate supervision of Fannie Mae and Freddie Mac by both parties
Deregulation of Wall Street and Business under Bush
Bush's 'Ownership Society' PR program
The Republicans did pretty well in the 1990's when Clinton was in office.
The first 2 years in which the economic policies were set up, Clinton had a democrat congress, later to be replaced by the most hostile republican congress to date. When Bush came into office he immediately threw out Clinton's policies and set tax breaks which caused the national debt to balloon and the budget deficit Clinton left to be spent. That is the same congress! Republican Congress can not take kudo's for Clinton's success, they worked against him every step of the way, but they could not stop his economic policy which was working. What they then did was stand behind Bush and his fantasy policy. Which has driven this country into the ground. It's the same reason why the current democrat congress cant be faulted for Bush's policy he set up when they were not around.
Anyone can understand why Clinton is not blaming the Repubicans... That is because Clinton himself shares a lot of the blame... he won't sling mud on this issue because he is totally vulnerable to return fire...
Maybe you should do some research of your own... Some topics you may be ignorant of:
CRA
Glass-Stegal Act, and Phil Graham legislation to overturn it, and how that led in large part to the mess we are in
Inadequate supervision of Fannie Mae and Freddie Mac by both parties
Deregulation of Wall Street and Business under Bush
Bush's 'Ownership Society' PR program
This all goes back the REAGAN he set this into motion with his deregulation, Bush just finished the job.
But none of it would have CRASHED down like this if not for the inflation and economy going south because of the WAR debt.
This all goes back the REAGAN he set this into motion with his deregulation, Bush just finished the job.
But none of it would have CRASHED down like this if not for the inflation and economy going south because of the WAR debt.
Sorry to say but even without any war, the Fannie May and Freddie Mac would have doomed the economy, just as it has done now. It might have taken longer but it was doomed for failure from the beginning because not one person can honestly think that giving loans to people who have bad credit will help their companies or the country. People got loans that never should have because they were and are bad credit risks.
Sorry to say but even without any war, the Fannie May and Freddie Mac would have doomed the economy, just as it has done now. It might have taken longer but it was doomed for failure from the beginning because not one person can honestly think that giving loans to people who have bad credit will help their companies or the country. People got loans that never should have because they were and are bad credit risks.
People with bad credit did not get the loans. That is a myth. People living paycheck to paycheck- yes who got behind because of inflation..yes.
People with bad credit did not get the loans. That is a myth. People living paycheck to paycheck- yes who got behind because of inflation..yes.
Sorry to inform you but it is and was not a myth. I have family in NM and I can tell you all kinds of bad credit risks that got loans to buy homes. Oh yea, you keep telling yourself that story because you would be wrong. Yes, many middle income people have gotten into trouble, and part of it is their own damn fault. It seems that people think that they should not have to prepare for the future and the possiblity of losing a job or some other emergency. Many of those people got those damn ARM loans and now say they had no idea what they were signing. How stupid does one have to be to sign for something they don't understand? I am sick of the excsue that I didn't understand or I didn't know because it is just an excuse and not a reason. Another bunch were the idiots who were flipping homes right and left and they got caught. Serves them right too since many of us were able to see many probalems with the idiot loans being given out many years ago. How about those commercials promising a loan for 125% of the value of one's home? There were bunches of idiots that fell for them and got those loans. Their own fault once again because why would anyone be stupid enough to take a loan for more than something is actually worth? Serves them right. There happens to a small minority that actually happened to get caught in a bad loan and lost their jobs or other means of income and now they find themselves without a home. I feel forn them, I really do, but this happens all of the time. It just happens that it happening in greater numbers than years past is all. You can see where the largest majority of the bankruptciesare happening and they happen to be in place like CA and NV and Florida, where people thought the gravy train would just continue forever. Here in southwest MO, where we just moved to, ther are bankruptcies but not in the amounts that are happening in places like CA and such and the economy is not as bad as other areas of the country. Sometime the people have to start taking some damn responsibility for their own actions. If it sounds too good to be true then it probably is and if they stuill fall for the idiocy then they deserve to take the hit, just as the bailouts hsould never have been funded at all for any damn company.
Last edited by Anonymous Political Junky; 11-27-2008 at 05:35 PM..
People with bad credit did not get the loans. That is a myth. People living paycheck to paycheck- yes who got behind because of inflation..yes.
Are you kidding me????!!!! You're not only chasing clouds, you're chasing pure whimsy!!! Everyone got loans ... people with bad credit, people without jobs, everyone!!! You could practically knock on a mortgage broker's door and be handed a loan. It was insane! They checked nothing ... here's the money, out you go.
Why do you think we're in this mess? Because a lot of people who couldn't even afford a pot to p**s in let alone a house went out and purchased homes worth over half a million bucks just because they could! They sighed forms they didn't understand because they didn't think past today, they had no idea that down the road that tiny little interest rate was going to go up and they wouldn't be able to afford it any more.
I am so sick and tired of hearing all this blamed on the guys at the top when there was blame all the way down the ladder to regular ordinary people who now we're supposed to feel sorry for and somehow irradicate their debt and take on their burden by bailing them out or a mortgage they shouldn't have been in in the first place. Owning a home is not a "right" for heaven's sake!
It makes my blood literally boil over. Time for people to step up and take responsibility for their own stupidity. Sometimes the little guy gets the shaft absolutely, but sometimes the little guy is the shaft!
California had a bubble way before the rest of the nation. It had to crash at some point. You cant really figure in Cali into the overall market --it's a beast of it's own, IMHO
This run away inflation is the war debt fault, the oil companys fault.. blah blah you will not convince me otherwise no matter what names you call me.
Clearly you missed the whole Fannie/Freddie fiasco.
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