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He didn't repeal Glass-Steigall or mandate the GSEs buy CRA subprime home loans that later became the toxic elements in the unregulated CDOs behind the subprime meltdown.
He didn't take the advice of Robert Rubin and Larry Summers to leave credit default swaps free of regulation.
On Monday President Clinton announced an "all-out" campaign to lobby Congress to pass permanent most-favored-nation status for China. The lobbying will be rough, with a fully mobilized American business community working as the iron fist inside the administration's velvet glove. The same day Clinton kicked off his new campaign, U.S. Chamber of Commerce President Thomas Donohue warned, on cue, that members of Congress who oppose permanent trade status for China "will find themselves in an unhappy situation with the business community."
“On derivatives, yeah I think they were wrong and I think I was wrong to take [their advice] because the argument on derivatives was that these things are expensive and sophisticated and only a handful of investors will buy them and they don’t need any extra protection, and any extra transparency. The money they’re putting up guarantees them transparency,” Clinton told me.
Clinton vowed to veto the Senate version of the bill unless it was re-written to include "requirements that banks make loans to minorities, farmers, and others who have had little access to credit." The new version passed 90-8 in the Senate, passed the House, and Clinton signed it into law. Clinton's required reworking of the bill should be studied closely to see what role, if any, it played in illegal, often racist, subprime loans at higher rates than Caucasian borrowers were offered.
What specifically did "W" do to trash the US economy?
you have to be kidding right?
Yeah, it's W's fault for the economy. Wasn't W blamed for the .com bubble burst and the corporate scandals that came to light right after he was sworn into office (even though they happened during Clinton's time in office)?
Sorry, you don't get to rewrite history on my thread.
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 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
The Iraq War made sense at the time. That's why so many Democrats who later claimed to have been hypnotized by Bush into authorizing the war actually did so. For them it was a gamble either way. No one knew with 100% certainty what Hussein really had left, but the cost of being wrong was simply unacceptable in 2002. Those Democrats were correct in erring in the side of US civilian safety. Had chemical agents been used on US soil as they were in Iran and Iraq, the impact of the attack(s) would have made 9/11 a footnote in history.
The Monday morning quarterbacking by the left doesn't square with history or reality. According to our Constitution, no president can authorize a war, so this being Bush's war is erroneous from the start. Furthermore, the day when the US is faced with nuclear blackmail or an outright nuclear attack by an Islamic terrorist organization is viewed by the US intelligence community as an inevitability. I applaud president Bush for at least delaying that day. No American likes war and presidents in office during extended conflicts pay the price at the polls. Just ask Truman, Johnson and Nixon. Bush took his lumps too, but to say Democrats were anything but supportive is election year BS.
How Did GW Bush Cause Our Current Economic Problems?
The path to epic mistakes is rarely just one step. There were a few missteps by the left, a few missteps by the right ... then, before you knew it, we were here.
Is it blame you are looking for? OK, then blame me. It is all my fault. Feel better? Good. Now, how about we concentrate on fixing this mess and not dwell in the past. Got any ideas in that arena, I would love to hear 'em... or are you just trying to feel righteous in the placing blame game? What wasted energy.
Blame is so much easier to give than receive, and the more that things change, the more they stay the same. (Neil Peart)
The Iraq War made sense at the time. That's why so many Democrats who later claimed to have been hypnotized by Bush into authorizing the war actually did so. For them it was a gamble either way. No one knew with 100% certainty what Hussein really had left, but the cost of being wrong was simply unacceptable in 2002. Those Democrats were correct in erring in the side of US civilian safety. Had chemical agents been used on US soil as they were in Iran and Iraq, the impact of the attack(s) would have made 9/11 a footnote in history.
The Monday morning quarterbacking by the left doesn't square with history or reality. According to our Constitution, no president can authorize a war, so this being Bush's war is erroneous from the start. Furthermore, the day when the US is faced with nuclear blackmail or an outright nuclear attack by an Islamic terrorist organization is viewed by the US intelligence community as an inevitability. I applaud president Bush for at least delaying that day. No American likes war and presidents in office during extended conflicts pay the price at the polls. Just ask Truman, Johnson and Nixon. Bush took his lumps too, but to say Democrats were anything but supportive is election year BS.
The Iraq War did not make sense of the time. It was a mistake from the outset, and also hurt our chances in Afghanistan.
While the majority of Senate Democrats did vote for the Authorization many who voted for it, still felt we were rushing into the war, that Bush did not live up to the purpose of the Authorization, went in too soon, not allowing the inspectors to finish their jobs, etc. The majority of House Democrats actually voted against the war. The fact we did not pay for the war as an epic failure.
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