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More remedial education for wingnuts. Which was more important in causing this crisis:
a) A slight uptick in mortgage defaults due to subprime mortgages and a drop in the $20 trillion real estate market
b) The complete failure and almost total disappearance of the completely unregulated $70 trillion secondary derivative market
I'll give you a few minutes to look up any words you don't understand. Unfortunately, you will probably spend the time looking up more stupid wingnut talking points.
After using big words, and seeing through it all, since you are so economically in tune, who do you blame? An honest answer would help retain personal dignity.
When banks were encouraged ( through Democratic legislation ) to lend money to risky buyers, they made a lot of quick money ... and they knew it would eventually burst.
Now, as taxpayers, we own the toxic assets that irresponsible people couldn't make good on.
It didn't have to happen in the first place.
Secondary derivative market my butt. The Congresspeople you voted for caused this crap. In the end, you are responsible for this social meltdown.
I know you will keep voting for Democrats. Everytime they fail ... you can blame Bush.
After using big words, and seeing through it all, since you are so economically in tune, who do you blame? An honest answer would help retain personal dignity.
When banks were encouraged ( through Democratic legislation ) to lend money to risky buyers, they made a lot of quick money ... and they knew it would eventually burst.
Now, as taxpayers, we own the toxic assets that irresponsible people couldn't make good on.
It didn't have to happen in the first place.
Secondary derivative market my butt. The Congresspeople you voted for caused this crap. In the end, you are responsible for this social meltdown.
I know you will keep voting for Democrats. Everytime they fail ... you can blame Bush.
You're high -right??? Credit Bush for preventing a meltdown????
Give me and the entire country a break...
It was a retorical question, I didnt for a second think that you'd make sense in one of your postings. Blame Bush for causing a global meltdown, depression, and then credit Obama for stopping it, even though none of his programs have been put into place.
It was a retorical question, I didnt for a second think that you'd make sense in one of your postings. Blame Bush for causing a global meltdown, depression, and then credit Obama for stopping it, even though none of his programs have been put into place.
Please stop embarassing yourself.
You're the one who is embarassing yourself...
MrBob made plenty of sense in this post - the Frontline program that he found is very informative, compelling journalism... maybe you should stop complaining and watch it - maybe you'll finally learn something...
Stop blindly sticking up for Bush and attacking Obama - and maybe, just maybe, you might find one person on this forum who would take you seriously...
I'm confused, we were close to a meltdown under Bush, but we didnt have one. Are you now crediting Bush with saving us from a total Depression?
It sounds that way -- we're 4 months post Bush and still no depression, no meltdown yet. I believe we're moving fast in that direction however.
It looks like we're in wild bailout mode -- and when the first round of trillions of dollars doesn't save the poorly run banks and corporations, there will be more trillions of dollars added to the debt and at some point it will all break down. Adding huge debt to get out of debt never works.
The rality is that Bushes stepping in ha saved it. Since then not much as coourred that has made much difefrence altho Billions more have been spent. It is easy to see if those extra billions don't work we are in for a time that may mean the depression was eaily solced in comparison;besides the effects that will come even with success becuase of the borrowing. that will come later; becuase we wil have to pay it back.
It sounds that way -- we're 4 months post Bush and still no depression, no meltdown yet. I believe we're moving fast in that direction however.
It looks like we're in wild bailout mode -- and when the first round of trillions of dollars doesn't save the poorly run banks and corporations, there will be more trillions of dollars added to the debt and at some point it will all break down. Adding huge debt to get out of debt never works.
if you take a real good luck at the Republican party blue print (without numbers of course) These very same banks will be well taken care of. Incentive to to renegotiate mortgages and a portion of a house increase in value.
MrBob made plenty of sense in this post - the Frontline program that he found is very informative, compelling journalism... maybe you should stop complaining and watch it - maybe you'll finally learn something...
Stop blindly sticking up for Bush and attacking Obama - and maybe, just maybe, you might find one person on this forum who would take you seriously...
Actually no he didnt because you cant go out and proclaim how close to a meltdown we were without figuring out why we did not have one. Since Obama has just became president, you cant posibly be proclaiming that he's to credit for the "saving" us from the depression. His plans and programs are just proposals and just now beginning to be funded. He has not spent anything yet.
Which leaves WHO stopped the depression from taking place?
You cant have it both ways, you cant proclaim the country was on the verge of a meltdown due to Bush, and then claim Obama "saved" us since he hasnt had enough time to put his programs into place.
You're high -right??? Credit Bush for preventing a meltdown????
Give me and the entire country a break...
Well, in his defense, Bush did help the Democrats get their TARP through, and also pushed for the Democrats' corporate bailout of the big 3. And considering that Obama did the exact same thing when he took office, you should give Bush some credit for starting the trend.
You should also thank him for this mess, because if the recession had not occurred under Bush, no one in America would have gone along with the corporate bailouts Democrats constantly shove down our throats, nor the $1.2+ trillion that Democrats insist will repay themselves overnight with no long term repercussions.
Essentially, Bush has become an unlimited use 'get out of jail free' card for the Democrats. They can push any agenda they want, so long as they blame Bush for whatever goes wrong with it.
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