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It was uncreditworthy black's debt thanks to the CBC and strong arm tactics by ACORN misusing the CRA and forcing responsible banks to make risky loans.
Oh, god this is so rich!
African Americans are so politically powerful that they can bring a $13 Trillion dollar economy to its knees by just defaulting on home loans!
Hell, why didn't we think of this sooner!
We could have demanded not only a strengthening of affirmative action, but hell at least a $1 trillion dollars in reparations.
GIVE UP THE MONEY OR WE'LL DEFAULT ON OUR HOME LOANS! Maryland Farmer!!
"We have sort of become a nation of whiners," was Phil Gramm's response to the economy.
And that was in July. He also said that the economy was "robust." Two months later, it all caved in. Gramm's a PhD in economics. He must have forgotten everything he learned in school. What a complete bozo!
And he was McCain's leading candidate for Sec of the Treasury!
"We have sort of become a nation of whiners," was Phil Gramm's response to the economy.
I know - we're in "a mental recession," too. He said this in July 2008 even though he's a proud vice-chairman of UBS AG, which began writing down subprime losses by the billion back in 2007 and continues to do so, literally, to today: Key events in subprime fallout at UBS | Reuters
And it wasn't Wall Street's debt. It was uncreditworthy black's debt thanks to the CBC and strong arm tactics by ACORN misusing the CRA and forcing responsible banks to make risky loans.
Phil Gramm disagrees with you.
“Don't get subprime lending confused with lending to poor people,” he said at one point. “There's not any evidence to substantiate that subprime lending was worse among poor people than not among poor people.”
"But what I -- what I've been concerned about is some of the language that's been used suggesting that this is full of pork and this is wasteful government spending, so on and so forth. First of all, when I hear that from folks who presided over a doubling of the national debt, then, you know, I just want them to not engage in some revisionist history. I inherited the deficit that we have right now and the economic crisis that we have right now."
Obama did what he had to do last night during his speech. He pushed back all the critics of his plan. You know the nuts I'm talking about. All the senators who have foreign auto plants in their back yards. To these same senators e.g. Shelby from Alabama and McConnell from Kentucky the phrase "Buy American" is foreign to them. Obama is calling like it is, tax cuts alone do not work and it hasn't worked for the last 8 years. McCain over the weekend when asked about "Buying American" he laughed at the notion. You NeoCons have virtually destroyed this country period, nuff said!
You didn't ***** or moan about all of Bushes misteps and his vigorous rebuilding of Iraq. Heaven forbid if we spend and invest in our own country and it's future. You truly do hate America, dontcha?
As has been posted on here over and over (and over) again, the American people and Congress were NOT "lied to."
Sorry, yes they were. Posting that they werent over and over (and over) doesnt make it so.
"According to the former President of the United States George W. Bush and former Prime Minister of the United Kingdom Tony Blair, the reasons for the invasion were 'to disarm Iraq of weapons of mass destruction (WMD), to end Saddam Hussein's support for terrorism, and to free the Iraqi people.'[17]"
"disarm Iraq of weapons of mass destruction": "Great controversy emerged when no stockpiles of WMDs were found [after the invasion]....The Center for Public Integrity asserted President Bush's administration made a total of 935 false statements between 2001 and 2003 about Iraq's alleged threat to the United States.[3]"
"end Saddam Hussein's support for terrorism": Saddam Hussein didnt support al-Qaeda, according to the 9/11 Commission, the Defense Department, and "the Senate Select Committee on Intelligence, whose 2006 report of Phase II of its investigation into prewar intelligence reports concluded that there was no evidence of ties between Saddam Hussein and al-Qaeda.[4]"
"Free the Iraqi people": five years in, remains to be seen, certainly do hope it will have been worth it!
No mention of Al-Quaeda, bin Laden (except "I dont really think about him much") or revenge for 9/11. Bush himself finally admitted Saddam wasnt involved with 9/11. It was sleight of hand.
(Al-Qaeda is there now, of course.)
Bush and the Bush Admin spokespeople led us to believe Saddam was an imminent threat to Americans at home; he was not.
9/11, our only reason to have a dog in any fight, was ignored.
There's far too much information available for me to choose one link or start quoting but you can certainly look it up yourself - anywhere that tells the truth.
Obama is looking worn and tired already. He is quickly becoming old news and not viewed as the savior the likes of Oprah and hollywood sold the poor in this country.
Obama...can talk and recite presidential sounding themes, but as an actual President, he is destined to fail. But remember this, you elected him, not me.
Really? Gee, Mr president, you were sworn in as a Senator on January 3, 2005. What was going on during those four years when you were in the US Senate? Were you working on bills that would cut the defecit? Which bill did you introduce regarding improving the economy? How can you blame this on what happened in the previous 8 years when you were there for the latter 4 of those years?
I can still hear him during his campagne stating that he and he alone was the one who could solve this problem and that he had a plan. Today after hearing Geitner speak, I realize they have no better plan than Paulson/Bush had. This problem has been growing for 25 years, not just the 8 that Bush was in charge.
"But what I -- what I've been concerned about is some of the language that's been used suggesting that this is full of pork and this is wasteful government spending, so on and so forth. First of all, when I hear that from folks who presided over a doubling of the national debt, then, you know, I just want them to not engage in some revisionist history. I inherited the deficit that we have right now and the economic crisis that we have right now."
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