Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The currents financial crises we are in. I hear just as many people blaming the republicans as people blaming the democrats. Who is really to blame? Everybody seams to think they are the expert will all the right answers.
I believe that financial destruction takes many many years to create. Not just over 8 years.?
It all goes back to real estate, mortgages, and those that invested in those mortgages. At one point, a homebuyer had to have 20% down (or 10% with private mortgage insurance), had to prove their income, and had to have enough income to pay the mortgage, taxes and insurance on their house. Do-gooder politicians who wanted to have more low-income people own homes changed those rules. As long as the house pricing was going up, there was no problem. Once the real estate prices started to go down, the real estate house of cards crashed and took the economy down with it. Congress is to blame...
It all goes back to real estate, mortgages, and those that invested in those mortgages. At one point, a homebuyer had to have 20% down (or 10% with private mortgage insurance), had to prove their income, and had to have enough income to pay the mortgage, taxes and insurance on their house. Do-gooder politicians who wanted to have more low-income people own homes changed those rules. As long as the house pricing was going up, there was no problem. Once the real estate prices started to go down, the real estate house of cards crashed and took the economy down with it. Congress is to blame...
yes nevermind the 10 trillion debt the republicans have left us with and as stated Reagan deciding to let wall street run wild
The currents financial crises we are in. I hear just as many people blaming the republicans as people blaming the democrats. Who is really to blame? Everybody seams to think they are the expert will all the right answers.
I believe that financial destruction takes many many years to create. Not just over 8 years.?
Its all our faults, the republicans repackaged and resold the free market mantra. The dems went along and also deregulated and we all cheered them both on. We forgot why the regulations were originally put into place and thought that it was outdated.
The currents financial crises we are in. I hear just as many people blaming the republicans as people blaming the democrats. Who is really to blame? Everybody seams to think they are the expert will all the right answers.
I believe that financial destruction takes many many years to create. Not just over 8 years.?
very easy answer, Government is the problem, too many people elected to work for the people that are currently working against the people.
If I did a bad job at work, I doubt I would still have a job, it is time to fire everyone in office, and start over
Sorry folks but the fault is with the people. Everyone that tried to get over on the 0 down home sales with adjustable mortgages and lied about their income deserves to lose their home. Everyone that got credit card after credit card without paying their debts deserves to be bankrupt.
There were those of us that saw the madness around us and still decided to be logical about it. Those of us who understand that if you don't have the money for it now, you probably won't have the money for it a year from now or five years from now. Those of us who save for extravagancies instead of buying them on credit because we know that you end up paying more for them when you use a credit card (they tell you the interest percentage when you apply for gods' sakes!) and weigh the options of such expenses.
But nobody wants to take responsibility for their actions anymore and now I'm stuck still paying for all you deadbeats who don't know how to count and will just do it again once you're bailed out. I'm beginning to think that it might be better to see breadlines than monetary bail outs. At least then maybe you will be shamed into being responsible.
The currents financial crises we are in. I hear just as many people blaming the republicans as people blaming the democrats. Who is really to blame? Everybody seams to think they are the expert will all the right answers.
I believe that financial destruction takes many many years to create. Not just over 8 years.?
Two weeks ago, Time magazine had a feature article on the 25 most responsible for the recession. It was an illuminating article. Many Bushies are featured, but it has some Democrats as well.
The currents financial crises we are in. I hear just as many people blaming the republicans as people blaming the democrats. Who is really to blame? Everybody seams to think they are the expert will all the right answers.
I believe that financial destruction takes many many years to create. Not just over 8 years.?
I am certainly no expert by a long shot but I think it is not an absolute this or that thing. I think our economic condition is due to many factors such as, poor government oversight of things like the Fed, a currency based on nothing but faith (as we see how much faith is out there now), Wall Street, government and consumer greed acting in unison, a media that indoctrinates our children and citizens into a consumer society, and a large population of people who are simply apathetic as well as drunk and plump.
When you consume more than you produce or sell, at some point you go into debt, you can then borrow and maintain this consumption until someone says, no more. Doesn't matter if you are a 8 year old with a lemonade stand, a typical household, or the worlds largest and most powerful government.
Show me a diet where a human being can consume 3000 calories and burn 1000 and not get fat or vice versa.
jimmy carter bill clinton and monica lewinsky are to blame for the financial crisis
It would make about as much sense to blame YOU for the crises as the nonsence that you just spewed ! What is really sad is that you have been spewing vile hatred along with personal attacks and name calling all morning.
Fact is that in the nine hours from about midnight to the time of your last post today (quoted above), you have made 56 Republican bashing vulgar and stupid posts. Did you finally crash ?
Now that I have vented about this persons hate filled posts I guess it's my turn to voice my opinion on who is to blame for our mess. I would guess, since I certainly am no expert, that there is plenty of blame to go around. We the voters, the folks who don't bother to vote, greedy people in government and financial institutions and of coarse the politicians. It is greed itself that is to blame. O.T., by the way did Bill Clinton really smoke cigars or did he keep them on the desk for those visits with young female interns only ?
Last edited by Rickers; 03-05-2009 at 02:18 PM..
Reason: Fixed some spelling boo boos.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
