Versatile Obama tackles economic mess created by Bush from many angles

[InformedConsent]

Originally Posted by AeroGuyDC

Low poll numbers make elected officials do strange things. My guess is that Barack Obama is shatting his britches right about now in light of the latest Washington Post/ABC poll.

AND throwing Pelosi under the bus. My guess is he'll distance himself from Pelosi and the House Dems, and blame them for the non-recovery and his admin's pathetic performance. Congress does draft and pass the huge spending, anti-business, etc., unpopular bills you know, even if they are forwarding Obama's agenda. He's got a built-in scapegoat, and he's using it.

Shame on Pelosi for not recognizing that the light in that tunnel vision of hers is a freight train steaming full speed ahead right at her.

[pghquest]

Originally Posted by Jadex

Whats the point of paying Obama to do the job if he cant do it and needs to call in back up.

Obama from day 1 couldnt do the job. Community organizers have no knowledge or experience at the macroeconomics.. (Neither do many in Congress)

Originally Posted by Rggr

If Obama doesn't know what to do, maybe he should have respected the opinions of others before demanding such swift action that cost us billions.

Maybe people should have known that he doesnt know what to do before we put him in a position that costs us billions. I dont blame Obama, I blame the voters. Many think they are qualified for promotions before they really are.

[workingclasshero]

Originally Posted by Alexus

Sometimes, it takes many minds to solve a problem, not just one. George Bush and the Republicans created problems so pervasive for this country, that many great minds are required to remedy them. Kudos to this great president for swifty addressing each problem, employing people who have been successful. He seeks answers from both sides, but unfortunately for this country, Republicans have no helpful answers.

Enlisting Clinton's aid is resourceful. Kudos to our great president. Thumbs up on the move.

economic mass 'created' by bush????

are you nuts

this economic mess goes back to clinton


sorry to INFORM you but these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's



1993 NAFTA---- passed by the democrat controlled congress, pushed by clinton, signed by clinton---the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.



1995 clinton (through his chief of HUD (Henry Cisneros and his second chief Andrew Cuomo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-dov' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))



For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy...

1996 clinton signed The Telecommunications Act of 1996 (The Act was claimed to foster competition. Instead, it allowed industry consolidation whose actions reduced the number of major media companies from around 30 in 1993 to 10 in 1996, and reducing the 10 in 1996 to 6 in 2005.)



1998 clinton does not allow drilling for OUR OWN OIL (liberal state it would take ten year to see any oil....well its been 12 years now)


1999 Clinton DEREGULATES the banking industry


2000 clinton signs the China trade bill


2000 clinton signs the Commodity Futures Modernization Act of 2000..(which paves the way for ENRON)

2001, clinton Helps China get into the world bank

[InformedConsent]

Originally Posted by JimMe

He did ask for help and was rebuffed. When he repeatedly tried to get Congress to address the coming train wreck that was Fannie Mae and Freddie Mac he was rebuffed by the Democrats lead by Barney Frank and Maxine Waters. They were more intent on currying favor with the ACORN types than minding the store. Timely intervention might have taken the air out of the growing housing bubble and sent a signal to the banks that risky loans would be their responsibility and not that of the taxpayer.

You'll notice that the Dems are rushing a financial services "reform" even before the commission appointed to investigate the causes of the financial meltdown has finished its work. Why might that be? Could it be that the commission will point the finger at the GSE's, which Dodd and Frank and the Dems don't want to regulate and have excluded from their "reform" bill?

There's plenty of evidence implicating the GSE's. Obama and Congress are ignoring it.

Fannie Mae's former chief credit officer's testimony:
http://www.house.gov/apps/list/hearing/financialsvcs_dem/pinto_testimony.pdf
http://www.house.gov/apps/list/hearing/financialsvcs_dem/ed_pinto_testimony_and_attachments.pdf

The GSE's are not included in the Dems' financial services "reform."

[JimMe]

Originally Posted by InformedConsent

AND throwing Pelosi under the bus. My guess is he'll distance himself from Pelosi and the House Dems, and blame them for the non-recovery and his admin's pathetic performance. Congress does draft and pass the huge spending, anti-business, etc., unpopular bills you know, even if they are forwarding Obama's agenda. He's got a built-in scapegoat, and he's using it.

Shame on Pelosi for not recognizing that the light in that tunnel vision of hers is a freight train steaming full speed ahead right at her.

Actually Pelosi was fully aware that her agenda was endangering the re-election prospects of the Bue Dogs in her caucus, but she was prepared to lose a few seats to get what she wanted. But she didn't count on the size of the backlash that now threatens the Dem majority in the House. She was willing to throw those Dem members under the bus. Now Gibbs and the White House have thrown her under the bus. As they say, there is no honor (or loyalty) among thieves.

[Pappy&Me]

Was there 527 congressmen-heshes named Bush ? Bush is no worse or better than anyone else .

[InformedConsent]

Originally Posted by JimMe

Actually Pelosi was fully aware that her agenda was endangering the re-election prospects of the Bue Dogs in her caucus, but she was prepared to lose a few seats to get what she wanted. But she didn't count on the size of the backlash that now threatens the Dem majority in the House. She was willing to throw those Dem members under the bus. Now Gibbs and the White House have thrown her under the bus. As they say, there is no honor (or loyalty) among thieves.

True enough. Heh heh heh...