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I have not seen an answer yet. Why did House Republicans oppose Bush's proposal? Of course Dems opposed it. Everyone opposed it, except those who did not see what Bush was trying to do (you).
On the contrary GOP created their own bill to regulate Fannie/Freddie, it was called GSE reform bill (Federal Housing Finance Reform Act). Bush admin opposed it. Why? Because Bush didn't want regulation, he wanted to transfer the power of regulation from Congress to himself (or his handlers).
So in other words, you can't back up your claims. This is what...third time I've asked for a link or quote of a House Republican who opposed Bush's proposal.
Bush proposed an oversight agency in the Dept. of Treasury for Fannie Mae and Freddie Mac, which in retrospect were both clearly out of control. You can characterize that as a 'power grab' but where were the Democrats at the time who proposed some alternate method of oversight? There weren't any. They all said that Fannie and Freddie were doing just fine.
I just hit me your serious when you post this stuff? LMAO!! All this time I thought you realized he was a complete moron and in the final stages of running us into the ground and your posts where jokes but your not joking. You are serious! You really think he's awesome. Unbelievable! I'll give you credit.. You will follow him right to the gates of hell singing his praises all the way. Go you I guess.
And you and your republican cohorts made a vow that your only political agenda was to make that Kenyan in the white house a one term president. Funny, after the 2012 General Election, you've still hung on the same agenda. Making that Kenyan in the White House a one term president through obstructing every thing he has tried to do. Then you have the unmitigated gall to claim he's done nothing, when all the facts prove otherwise.
it's a huge lie, is what it is, for election time. Republicans go along with it. To drop from 10% to 6% would mean that 8 million new jobs (that are worth a hoot) would have had to be created in 2 years. Didn't happen and won't happen (ever again)
Um, the unemployment rate two years ago stood at 7.8%, not 10%.
Making up your own fake facts while pretending the real ones are phony. Two classic right-winger arguments in one post, impressive.
Quote:
Originally Posted by bluesjuke
Yep, we won't see 6% or lower in his time left in Office.
Current U3 rate: 5.9%.
Quote:
Originally Posted by GHOSTRIDER AZ
Not so true. The Clinton Economy started to take a downward turn. Bush recovered well after 911. Plus he never blamed President Clinton for the down turn. Just got to work Texas Style!
He never got back to Clinton levels of prosperity, and the early 2000s recession was a speedbump compared to the disaster Bush left. Bush's 2005-2006 "boom period" was an economic house of cards destined to crumble to the ground, and it did.
So in other words, you can't back up your claims. This is what...third time I've asked for a link or quote of a House Republican who opposed Bush's proposal.
Bush proposed an oversight agency in the Dept. of Treasury for Fannie Mae and Freddie Mac, which in retrospect were both clearly out of control. You can characterize that as a 'power grab' but where were the Democrats at the time who proposed some alternate method of oversight? There weren't any. They all said that Fannie and Freddie were doing just fine.
I didn't say Dems had an alternative, I said the GOP did, and Bush admin opposed it. Maybe you did not realize it, but you just agreed to what I have been saying. Bush wanted to transfer the responsibility of regulation from Congress to the Dept Of Treasury. The Treasury (in case you didn't know) is ran by the White House admin.
Do you know who did support Bush's proposal? Fannie and Freddie did. Now you know who played the music to which Bush danced to. He was a pawn on their chess board, and I am glad both parties saw what Bush obviously did not. You also seem to forget who controlled the Congress during these times. GOP did, and like I said they actually tried to pass a bill which was opposed by Bush admin. If they had supported Bush proposal, they would have passed a bill, but they didn't, because they knew Bush was trying to play them for a fool.
Quote:
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business.
Who should have the authority the White House, of the Congress?
also
Quote:
he administration’s proposal, which was endorsed in large part today by Fannie Mae and Freddie Mac, would not repeal the significant government subsidies granted to the two companies. And it does not alter the implicit guarantee that Washington will bail the companies out if they run into financial difficulty; that perception enables them to issue debt at significantly lower rates than their competitors. Nor would it remove the companies’ exemptions from taxes and antifraud provisions of federal securities laws.
Last edited by Finn_Jarber; 10-05-2014 at 03:50 PM..
Note to Democrats: Normal Americans don't have six years
Really? He inherited a mess, he slowly turned around the things that need to be done to improve the economy and has a Congrss that cannot seem to be able to pass a budget. And you are surprised?
Because the recovery from a Republican induced recession shouldn't take that long to recover from. Americans always think things will happen instantly.
Because the recovery from a Republican induced recession shouldn't take that long to recover from. Americans always think things will happen instantly.
Regardless if it was Republican induced or not, you proved you can't be trusted to recover...period. This isn't a football game or Portland, this is real life.
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