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There is enough blame to go around to all parties, but your statement about most American's blaming Bush is correct, because most American's are clueless and have no idea what the facts are, for they live in the moment, and history is a foreign word for most. lol
Yes, we ignorant, clueless Americans have no idea how history will judge Bush. lol
Mortgage-Free-Homes? How's that working out these days?
I've been saying for some time that Bush was at best an 'enabler' of the current economic CRISIS that we face, and more realistically - he was probably a prime factor in the whole house of cards coming tumbling down as it has...
His 'Ownership Society' push got him plenty of good press at the height of the housing bubble - but he - and the incompetent minions he put in charge at Freddie/Fannie/SEC/Treasury - ignored all the expert testimony over the years that we were heading towards a sub-prime earthquake...
yes you are correct, bush does own the mess the USA is in right now, and when your messiah obama gets into office, it shall become his mess that he shall own. lock stock and barrel.
I've been saying for some time that Bush was at best an 'enabler' of the current economic CRISIS that we face, and more realistically - he was probably a prime factor in the whole house of cards coming tumbling down as it has...
His 'Ownership Society' push got him plenty of good press at the height of the housing bubble - but he - and the incompetent minions he put in charge at Freddie/Fannie/SEC/Treasury - ignored all the expert testimony over the years that we were heading towards a sub-prime earthquake...
Of course! With Republicans in solid control of all three branches of the federal government, they were simply powerless in the face of the mighty liberal agenda all these years. And their pals and cronies controlling corporate America and Wall Street were kept in the dark, as well.
I've been saying for some time that Bush was at best an 'enabler' of the current economic CRISIS that we face, and more realistically - he was probably a prime factor in the whole house of cards coming tumbling down as it has...
His 'Ownership Society' push got him plenty of good press at the height of the housing bubble - but he - and the incompetent minions he put in charge at Freddie/Fannie/SEC/Treasury - ignored all the expert testimony over the years that we were heading towards a sub-prime earthquake...
I hate Bush as much as the next person but I think you have some weird logic in your head... Bush didn't really started the mess... it was started by a socialists movement and Bush continued the socialist ideology because he thought it was a "good" idea... more homes for the poor, hooray! Sure he made things worse because he gave people what they wanted and it brought the systemm down... "minions" in Freddie? Fannie? You do realize it was the socialist democrats that protected those entities right? Bush couldn't do much to them cause that will be Congress's job... to blame Bush for the socialist dems fault is one-sided... Bush does share the blame... but I don't leave out the other people either...
I'd love to blame Pelosi and her cronies (and they certainly deserve much of the blame), but they don't deserve all the blame. Just b/c the economy got worse after they took control doesn't mean the economy got worse BECAUSE they took control. You can say the same for Bush.
Much of the blame is the simple fact that the economy goes in cycles and it goes up and down regardless of Government actions. Besides that, the FOMC kept interest rates too low and the Congress pushed the Community Reinvestment Act forcing Banks to loan to credit-weak borrowers. Of course, the lenders, borrowers and brokerages had their role as well.
The question now is trying to improve the situation. While I don't support the Economic Recovery Plan, it's good that Obama is focused on how to move forward instead of wasting time blaming others. He blamed others to get elected and when it benefitted him, but continuing to do that is of little benefit.
The economy is the responsibility of Congress. . . . and the economy was cruising along just find until Pelosi and the dems took over.
Exactly! Why should we blame the Republicans? Just because these bad subprime mortgages were mostly written in 2004-2006 when Republicans controlled the entire Congress, and provided no government oversight of these financial institutions?
Instead let's blame the Democrats, who took over Congress just in time for these bad subprime Adjustable Rate Mortages to reset to much higher interest rates, which in turn, led people to walk away from paying their mortgages, and resulted in massive foreclosures.
Exactly! Why should we blame the Republicans? Just because these bad subprime mortgages were mostly written in 2004-2006 when Republicans controlled the entire Congress, and provided no government oversight of these financial institutions?
Instead let's blame the Democrats, who took over Congress just in time for these bad subprime Adjustable Rate Mortages to reset to much higher interest rates, which in turn, led people to walk away from paying their mortgages, and resulted in massive foreclosures.
Don't worry - I have absolutely no doubt that Bush and his fellow Republicans are going to go down in history as the most fiscally irresponsible administration we have had since Herbert Hoover...
Bush came very close to orchestrating a complete financial meltdown and another Great Depression for America - and the threat of depression is still not totally out of the picture.
For those who will be blaming Obama for the large fiscal spending that will required to keep us from falling into a depression, and the large deficits that are looming as a result - place blame where blame belongs - on Emperor Bush - who fiddled and drank beer as America burned...
So Bush and Obama are working together against us. They certainly have the same styles: break the bank spending, dysfunctional cabinets, using boogeyman scare tactics to keep people behind them( terrorism, economic collapse).
At least nothing has changed.
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