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Old 10-16-2008, 03:56 AM
 
Location: Unperson Everyman Land
38,612 posts, read 26,263,447 times
Reputation: 12633

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Republicans have been taking a beating for several weeks now in the mainstream press for causing the financial melt down that made the $700,000,000,000 GSE bailout necessary. Did the Republicans really cause this problem through excessive deregulation as is alleged? Based on the videos and numerous attempts to rein in the GSEs by GWB starting in 2003 and Senators Hagel, Dole, Sanunu and McCain starting in 2005, it would appear not.


YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis


YouTube - Timeline shows Bush, McCain warning Dems of financial mess

Last edited by momonkey; 10-16-2008 at 04:30 AM..
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Old 10-16-2008, 04:55 AM
 
Location: Va Beach
3,507 posts, read 13,418,128 times
Reputation: 1034
Most of us know the truth, but many are suckered into believing something else. Just the other day, a woman for the Obama campaign came to our door. When we mentioned the crisis, she went on a tangent saying that people who lost their homes are at fault. What? Oh okay, so losing your job, being activated to war duty and losing your job and home is their fault? Well, I was able to see first hand the mind set of this supporter. I was not pleased.
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Old 10-16-2008, 05:05 AM
 
Location: New Mexico
8,396 posts, read 9,418,420 times
Reputation: 4070
Talking Did the republicans cause the crisis at fannie and freddie?

Of course not!

It must have been Bill Clinton. Or Ted Kennedy.

Oh! I know! It was Dennis Kucinich who really caused the mess.



Those rotten democrats! Forcing the Dubya administration to bend to their will.
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Old 10-16-2008, 06:54 AM
 
Location: Idaho Falls
5,041 posts, read 6,201,466 times
Reputation: 1483
The disaster was caused by the collapse of the unregulated, $60 trillion derivatives market. That market was created by McCain's financial advisor - Phil Gramm. It was created on the back of the housing bubble, which had it's beginnings in the late 90s - including some policies signed by Clinton but written and pushed by the GOP-led Congress. In any event, those policies were conservative polices.

This economic crisis is a conservative one, start to finish.
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Old 10-16-2008, 07:02 AM
 
177 posts, read 260,668 times
Reputation: 106
I agree.

And you remember when the dot.com companies on wall street went bellyup? It was Bush who promised he would keep a eye out on Wallstreet so this won't happen again.
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Old 10-16-2008, 07:09 AM
 
Location: New Mexico
8,396 posts, read 9,418,420 times
Reputation: 4070
Quote:
Originally Posted by idahogie View Post
The disaster was caused by the collapse of the unregulated, $60 trillion derivatives market. That market was created by McCain's financial advisor - Phil Gramm. It was created on the back of the housing bubble, which had it's beginnings in the late 90s - including some policies signed by Clinton but written and pushed by the GOP-led Congress. In any event, those policies were conservative polices.

This economic crisis is a conservative one, start to finish.
Stop it!

Bringing facts into a discussion of GOP culpability in sinking our economy is not fair!


weasel
http://www.forthright.net/gramm.jpg (broken link)
Phil gramm

Separated at birth?
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Old 10-16-2008, 08:32 AM
 
11,523 posts, read 14,592,462 times
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I think probably both parties are responsible for this mess. Some policies from some and some from the other. It did happen though on George W.'s clock, which would make him and his administration most culpable--to me anyways.
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Old 10-16-2008, 08:34 AM
 
Location: Grand Rapids Metro
8,882 posts, read 19,792,566 times
Reputation: 3920
Quote:
Originally Posted by DixieSherry View Post
I agree.

And you remember when the dot.com companies on wall street went bellyup? It was Bush who promised he would keep a eye out on Wallstreet so this won't happen again.
Hmm, I think he said the same thing after Enron too.

An economy flush with cash from extremely low interest rates and rock-bottom tax rates is just ripe for bubbles. The chum was thrown in the water and then we wonder why we all ended up getting trashed by the sharks.
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Old 10-16-2008, 08:34 AM
 
1,748 posts, read 2,470,764 times
Reputation: 879
I don't know whose fault it is, but Bush failed to do anything about it until NOW.....Now it's too late. This shows total incompetence.
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Old 10-16-2008, 08:38 AM
 
11,523 posts, read 14,592,462 times
Reputation: 16820
I think Bush's 8 years showed total incompetence. I don't know, even if you're a staunch republican--Bush was a total failure. The war, now the economy, the environment, the eroding of civil rights, blah, blah, blah. We have been living in the dark ages.
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