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What exactly do you think GWB did to cause an economic downturn? Presidents control a number of things either directly or indirectly, but the economy is mostly controlled by the forces of capitalism and to a lesser degree the Congress and state governments.
I have already posted links to news stories that describe the actions taken by US banks (private entities) that increased the leverage (amount of debt) behind what they declared on their books as "assets". That leverage was not adequately being reflected in their balance sheets and therefore was increasing their risk of FAILURE when the marketplace in those assets collapsed. By early in 2008, the banks stopped buying each other's debt and derivatives instruments because no one could apply a value to them. So now the banks don't have enough assets with enough value (using mark-to-market accounting) to cover their fractional reserve requirements. They're up sh*t creek. This acts like financial constipation in the economy. Good luck as a business getting a loan. Good luck as a homebuy getting a mortgage. Etc.
The Feds are supposed to be regulating the national banks (those part of the Federal Reserve System). The Feds are prohibited from regulating the market in credit default swaps (look it up), thanks to legislation snuck into a vote by Sen. Phil Gramm of Texas.
No, we don't need to do any of those things, and we don't need a new name. We just need to be Republicans. That's the problem. Most have quit acting like Republicans (McCain, for one).
And the problem with the economy right now is the Democrats doing entirely. They are the ones that Created the CRA, which led to "sub-prime" mortgages, and forcing banks to make loans to people who couldn't pay. Do the research. The Clinton administration expanded on this. And Democrats like Chris Dodd, Barney Frank, Chuck Schumer, et al, (there's a long list of names who are involved) benefited financially from Fannie Mae and Freddie Mac, which they have been in control of.
Not ONE Republican has anything to do with this scandal. If if one did, the Democrats would be calling for his/her resignation by now. But they are not.
This has been all over YouTube in videos of Democrats responding to Republicans who said more regulation and oversight was needed. The Democrats flatly denied that there was a problem.
They made the mess. And now they have appointed themselves to "fix" it. Yeah, right. Give me a break.
If the Republicans would get back to acting like real conservatives, they would start wining elections again, as in 1994. They have tried to hard to get along with liberals, rather than working to defeat them.
Liberalism must be defeated once and for all. And it isn't going to happen if we join them in their games.
I agree that if Republicans want to succeed, they will need to abandon the idea of working with Democrats. Liberalism simply doesn't work and when the hens come home to roost, as we have seen in this latest economic debacle and even 9/11, Democrats need someone to blame for the consequences of their mistakes. With GWB gone now, they will have to work a whole lot harder to affix responsibility elsewhere. I'm looking for a second Republican Revolution in 2010 if for no other reason than they will be accountable for screwing up again.
My God, have you ever heard of a mortgage-backed security, or maybe you prefer collateralized debt obligation (CDO)? Do you have an inkling that the demand for sub-prime mortgages was coming from Wall Street, not Washington, D.C., so that investment bankers could roll them into securities that could be sold to institutional investors around the world? Have you ever read an article by Michael Lewis? (such as this one: The End of Wall Street's Boom - National Business News - Portfolio.com )
Do you understand that today, technically speaking, there are no more large purely investment banking firms? Do you understand?
What the banks, and the former investment banks, did to THEMSELVES, and by extension to the entire economy, has NOTHING to do with the Democrats in Congress but rather to their own greed and the absence of regulation by the Dept of Treasury, the Federal Reserve, and the Securities and Exchange Commission (you know, the folks who cluelessly oversaw the Madoff scam).
Save the drama. S.190, that's all you need to know.
What you are saying is that Democrats are the new conservatives?
They DID win, you know. A huge majority voted for them.
This leads me to deduce from my observations and your post that either "Democrats are conservatives" or "There aren't enough conservatives left to elect anybody", and that if republicans of the future want to be considered viable, they need to start looking more like Democrats.
Huge majority? They need to stop playing footsie with Democrats and explain to the American people how the actions of the Democrats have screwed them out of jobs and security.
Amen. They're authoritarians at heart. Whatever it takes so their side wins.
90% want to be told what to think and another 10% think God put them here to lead the others. Think of all the issues they brag about....We want small government...unless they want to wiretap you/or run up historic deficits......They respect the military...unless a Democratic candidate is running.....The want law and order....unless it's Bush doing the lawbreaking.....they respect the Constitution...unless it's for security reasons.
Now your boy Obama has to decide if he'll continue these "illegal" wire taps. Do you think he will, or will he respect the rule of law as you and your stripe see it? I'm guessing he continues the wire taps. Things look different when you're the one who is responsible for the outcome. In fact, I'm of the opinion that in six months, you won't be able to tell the difference between GWB policies and BHO policies. You heard it here first.
Location: Democratic Peoples Republic of Redneckistan
11,078 posts, read 15,091,814 times
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Quote:
Originally Posted by lionking
Hmmmm,so where does that leave me a all time Repub voter until now who voted Ron Paul then 3rd party this year?
Im hated by leftists and hated by the right.....
I don't think Paul voters are hated at all LK and other than the occasional "whacko" comment(not by me,I think he has some good ideas,just not a snowballs chance of winning POTUS because of hitching himself to the wrong wagon) I've never heard to much at all bad about him or his supporters........BUSH voters on the other hand are hated by non Bushies tho'
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