A reminder of what caused the economic crisis we've been in for four years: Democrat policies (regular, parties)
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Translation: You won't consider facts that dispute your "opinion."When the underlying assets are high risk but NOT represented as such, yes it would. Guess who misrepresented OVER HALF of the high risk MBS?
Yep... the GSEs
Furthermore, the GSEs were leveraged WAY above 30:1
Then, why were five financial giants allowed to leverage beyond 30:1 beginning in 2004, if it is a terrible idea?
In 2003, the White House warning about Fannie and Freddie, was upgraded to a "Systemic Risk that could spread beyond just the housing sector".
oh dear. from 2003 to 2005, you had all three, a "R" president, house and senate.
If someone was going to do something, and could have, why didn't they do it?
oh dear. from 2003 to 2005, you had all three, a "R" president, house and senate.
If someone was going to do something, and could have, why didn't they do it?
So much energy spent cutting and pasting a bunch of partisan garbage.
Greed doesn't have a party affiliation. Of course, Romney thinks there's too much regulation of his vulture capitalist and Wall St. buddies, not too little. Fancy that.
oh dear. from 2003 to 2005, you had all three, a "R" president, house and senate.
If someone was going to do something, and could have, why didn't they do it?
It wasn't a filibuster-proof Congress. The Dems could block reform, so they did.
Ask the GSEs. How did that turn out? ...A $1.1 trillion GSE bailout.
So, the idea that basically jump-started the economy in 2004, and ended with a huge thud with the five financial giants (Goldman Sachs, Merrill Lynch, Lehman Brothers, Bear Stearns and Morgan Stanley) collapsing and bringing the humanity to the verge of another great depression, was a bad idea. No?
But, I think you'd have trouble accepting this, considering that what is left of these five happen to be the top contributors to your choice for President.
Bush 43 was the one who urged reform (2007) and not before when the senate and house were controlled by "R" party. No Legislation from the 2003 to 2005.
Filibuster my foot. You're in denial that republicans couldn't do anything. They just didn't want to.
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