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He got us into a quagmire called "War Against Terrorism" which is as effective as the "War against Communism" and going into Vietnam. See the similarities? How can you excuse 8 years of Bush's presidency and taking us into a deep recession by bringing up Clinton? To be fair to Bush, this country has been taken over by Wallstreet, Corporate America for 30-40 years; it certainly did not start with Bush. Today Wallstreet big wigs and the defense industry (war mongers) are running the show. They have the little guys convinced that they are fighting between themselves and they keep them occupied that way so that they can continue to rule the roost. They must think that we're all big *******s and to be perfectly honest, a good number of our population are *******s who believe that their problems are due to the next guy right next to them....that's what they want us to think. If you seriously believe that George Bush's presidency though did nothing to drag us into the quagmire deeper, then there is nothing to say.
Feel free to start your own thread about Wall Street and the corporate whores in the Congress and Executive who sell their souls to the highest bidder. I can certainly agree with you that political corruption is the root of the problem, but this thread is about "W" and what he did to cause our economic downturn.
As for the war on terrorism, would you have us do nothing except sit quietly while waiting for the next attack?
Should we have sought further UN resolutions condemning the murder of civilians while the same organization which attacked us over and over during the Clinton years regrouped, rearmed and reattacked?
Saying that "W" got us into a quagmire ignores the contributions of Islamic terrorists around the world and their determined hate for all things outside of their ignorance-based compfort zone.
I also give plenty of credit to Clinton who, after witnessing the first attack on the WTC in 1993 and subsequent bombings by al Qaeda, allowed a 25% attrition rate at the CIA. Should he have not doubled down on intelligence?
Hot and bothered about the WMDs, talk to Bubba about it because he's the one who screwed the intelligence community giving al Qaeda all the time and freedom of movement they needed to pull off 9/11.
I feel that the main contributing force to the economic plunder that gutted this country was the total lack of regulatory control. When Bush assumed control, a message was sent to regulatory agencies -----back off.
Our regulators took an eight year hiatus----a long lunch break----a long peaceful snooze on the hammock.
Houses were being swapped like kids swap candy. Major banking institutions were handing out subprime mortgages to customers who had no legitimate shot at handling the variable mortgage rates they were contracted with.
Our banks promoted subprime mortgages with contests and handed prizes to the best negiotators. The horror stories about Washington Mutual are disgusting and vulgar.
That being said, where were the boys at the SEC during those eight years??? Where they basking in the sun in Tahiti? Where they watching Beck,Limbaugh, and Savage rave about the stupendous job they were doing.
It was very apparent that a massive bubble was brewing and it was going to pop causing alarming consequences. As other posters have corrected said, it was not so much what the Bush adm did----but rather didnt do. They didnt do their regulatory due deligence and idly watched an the flames engulfed the system.
"Sending a message"?
Clinton signed bills into law, but that doesn't matter because "W" sent a message?
I could probably devote an entire thread to what "W" didn't do. He made minor efforts to rein in out of control GSEs, but he didn't come with the fire power he needed to overcome Democratic resistance. I won't bother to repost the videos since they are in the OP, but suffice to say Bush should have stomped the guts out of Dodd, Pelosi, Waters, Frank and BO while he had the chance. The public would have rejected his efforts as long as we could still get equity lines of credit based on inflated home values, but he could have at least saved his legacy.
SEC?
Did you even bother to watch the videos? Clinton, under the advice of Rubin and Summers, allowed no federal agency to have authority to regulate derivatives. How can the SEC be asleep at the switch when Clinton took away the switch?
so bush had nothing to do with the iraq war? nor anything to do with the money it cost to wage it? that not only took a 200 plus surplus budget and turn it into a 1.2 TRILLION dollar deficit? you can't rewrite history in your thread either
So we go from rewiting history to strawman arguments?
Bush was the President of the United States. He had no Constitutional authority to declare war and didn't. Congress does and did.
All of your videos of Dems supporting the Iraq war were made during the time of Bush's FICTIONAL intelligence reports. And the fact they are from Fox News makes them all the more laughable. Just more Right-wingnut propaganda based on half truths.
As for the recession... Bush did nothing to cause it, rather it was his inaction and incompetence that caused it. The outcome of Wall Street and the major banks greed was obvious 10 years ago, but he did nothing to prevent it.
All of your videos of Dems supporting the Iraq war were made during the time of Bush's FICTIONAL intelligence reports. And the fact they are from Fox News makes them all the more laughable. Just more Right-wingnut propaganda based on half truths.
As for the recession... Bush did nothing to cause it, rather it was his inaction and incompetence that caused it. The outcome of Wall Street and the major banks greed was obvious 10 years ago, but he did nothing to prevent it.
The nice folks on Wall Street have always been greedy and irresponsible, but we haven't always had worthless subprime paper being sold as AAA investments and used to leverage other equally worthless CDOs.
Bush Jr. cleaned up both Reagan and his daddies mess so him, his family, and his newly appointed VICE PRESIDENT OF THE UNITED STATES OF AMERICA/HALLIBURTON DICK CHENEY would gain. I am not saying we shouldn't have gone, but we didn't have the planning nor the backing to make it our quest. This war is costing us around $750 billion. The Insider - Iraq's WMD - Made in America
Bush Jr and his family friend Kenneth Enron Lay along with the head of the White House Energy Task Force Mr. Dick Cheney were all in bed with each other.
And biggest of all Bush killed our confidence in politics.
I'm not going to say the Dems didn't help drive this country into the ground, but Bush certainly gave the car to Obama with no gas and a nearly maxed out credit card!
Quote:
Originally Posted by momonkey
Sr is not the subject of this thread.
Quote:
Originally Posted by momonkey
Yes, it says Bush wasn't president yet.
Did you throw up in your mouth when you found out Micheal Moore and George Soros owned Haliburton stock? I know I did.
Haliburtion didn't load unregulated and highly leveraged CDOs with worthless CRA NINJA mortgages that were leveraged with other equally worthless CDOs. Fannie and Freddie were buying up the CRA paper per Bubba's instructions and selling toxic CDOs as AAA investments to all the banks we would later bail out because, thanks to the repeal of Glass-Steigall, they were too large to fail.
Who was it who signed the "Enron Loophole" into law?
Why would you have confidence in any politician?
Still waiting for you to list ONE thing "W" did.
[quote=NorCal77;14561313]Point is NAFTA was created by Bush's daddy and JR was an enabler. Remember he had the lowest number of jobs created since the Great Depression? That has something to do with the economy now doesn't it? Jr. never had his own mind and was wired from the start.
Did I miss something here? or are you just trying to take the spot light off of Bush Jr. and Mr Vice President Cheney?
Your still side stepping the corruption and blatant disregard for our countries citizens.
Lets not forget that Jr. tried to veto the bill in '08 but was overridden by both the House and the Senate.
Bush Sr. helped orchestrate the Enron scandal before Jr was in office.
Have we forgotten the Carlyle Group that Sr. was apart of? did this father son duo not blatantly skate by the American people with clear intentions of self gain?
These two clowns made a mockery of our government and is part of the reason so many countries despise us today.
It's important to be optimistic with people of power and at the same time let their actions speak for them. Bush imo was one of the worst in a long list of presidents that enabled the downfall of our country.
But Iraq was part of the "war on terror" and Saddam was part of the "evil doer's" clan. Al-Quaida was in Iraq remember? or was it just fellow Muslims?
I'm not going to pretend Clinton or Obama are perfect and haven't contributed to our disaster. However the Bush family blatantly ran our government like they were the mafia and got away with it! After Bush's presidency many people lost confidence in our government and have lived in fear ever since. The collapse of this country has fallen into Obama's lap and he will be made the scapegoat.
Until we take corporate money OUT of DC our politicians are mere pawns. There is a reason a 1/3 of our country is now independent and has lost confidence in government and Bush helped create this. We can continue to throw rocks at each party and talk about bipartisanship when it's convenient, but the lobbyists and career politicians are still eating steak and lobster somewhere in DC.
"W" is responsible for the deaths of cows and lobsters?
Based on the numerous accusations you made in this last post, you should be able to put together a list, however short, of specific acts by "W" that caused our current economic woes. So where is it?
What specifically did "W" do to trash the US economy?
you have to be kidding right?
Called for "An ownership society" at the height of the housing bubble.
Increased government spending dramatically during his term with investing in the country in terms of infrastruture projects.
Did not propose any regulations on mortgage brokers or regulations on mortgage backed securities, credit default swaps or other collatorized debt obligations. The lack of transparency with this financial instruments played a key role in the credit crises of 2008. He basically adopted the Republican Party policy of less regulations is better. We know where that got us.
Did not promote any government initiatives to spur technical or scientific innovation which is the key promoting economic growth.
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