Bush Crashed the Economy and other lame excuses

[GoneBezerk]

Bush was put behind the 8-ball by day 1 because of Clinton.

First the economy was going downhill when Bill Clinton left the White House....the dot.com bubble burst and the higher tax rates were slowing the rate of growth in the economy.

Second, Bill Clinton left the 9-11 surprise for Bush.....which helped harm the airline and tourism industries. It took months for Americans to feel safe flying and people coming from overseas to visit a country under attack.

Third, the CRA was looming out there with its pending impact on the banking and mortgage industries in a ticking timebomb.

The Bush tax cuts helped bring in RECORD REVENUES to the US Treasury in light of the Clinton recession and 9-11, but then the implosions happened in the banking and mortgage industries because of laws and policies put in place BEFORE Buuuuuuuuush got into office, but conveniently in place to blow up in Bush's face.

Bush was too nice, too naive....he let the media and Democraps spin the story and blame him. He should've taken off the gloves and gone after them for the shitstorm they caused on his watch. He helped Obamination get elected by not standing up for himself.

Now this country is in deep trouble because the fucking morons have put their black messiah in charge to drive the bus off the cliff.

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190


Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

 

[Truthmatters]

Brokers are the people who sold the sub prime tainted mortgage securities.

if they could not have sold them off at a profit they would not have written them

 

[Mac1958]

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Oh, if life were only as simple as partisan ideologues think it is.

.

 

[Truthmatters]

The Gramm-Leach-Bliley Act was signed into law by President Bill Clinton on Nov. 12, 1999. The Act provided an 18-month deadline for the adoption of implementing rules, but from 1999 until 2005, the rule-writing effort stalled repeatedly. On Oct. 13, 2006, President Bush signed into law the Regulatory Relief Act, which added the requirement that the Commission and the Board issue the proposed rules jointly, and seek the concurrence of the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation.

they held it up for YEARS

 

[Toro]

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Oh, if life were only as simple as partisan ideologues think it is.

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Ideology --> Much easier than thinking.

 

[Truthmatters]

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Oh, if life were only as simple as partisan ideologues think it is.

.

then please explain the impact of this refusal to impliment these rules?

 

[freedombecki]

Brokers are the people who sold the sub prime tainted mortgage securities.

if they could not have sold them off at a profit they would not have written them

Democrats forced banks to swallow sub prime tainted mortgage securities by legislation when they owned both houses.

Fortunately for America, it's counting on John Boehner not to let that happen again because the DNC is misguided and spending like drunken sailors when nobody's looking. They're now counting on Obama to call the Treasury everytime they want something. It's no wonder he has no time to think. He's too busy doing what all the ranters in the DNC want right now, no waiting until responsible people are taking a closer look. Money rocketing out the door when Libbies rule. It's the whack-a-mole dollar flying out the door!

 

[Truthmatters]

Beofre GLB act brokers were accredited.

they had a license to lose if they acted in certain ways.

with NO broker rules the banks could tell any (trained and picked by the institution its self) broker to jsut do what your told or lose your job.


with the rules the broker could say " I cant do that I will lose my license".


It would END their carreer and put them in jail.


No broker rules means NO regulation.

are you catching on yet?

 

[Truthmatters]

This is why the institutions wanted this change.

they had before this been BANNED from selling securities because shit had been done in the past by them to distory the markets for a quick profit.


all of the sudden banks could do what ever they wanted.

and they did

 

[Truthmatters]

Now please explain to me WHY you claim this information is not what I say it is.

If its just partisan explain HOW I am wrong on these facts.

 

[Truthmatters]

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Oh, if life were only as simple as partisan ideologues think it is.

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Ideology --> Much easier than thinking.

come on Toro


explain how its NOT what Im saying it is?

 

[Truthmatters]

gee where did you all go?

 

[Katzndogz]

Brokers are the people who sold the sub prime tainted mortgage securities.

if they could not have sold them off at a profit they would not have written them

If the government hadn't changed the laws and encouraged bundling bad loans with good ones, the brokers wouldn't have been able to do that. It was called spreading the risk. Repeal of the Glass-Steagal Act allowed banks to gamble with depositor's money. Spreading the risk. That's why it was all about, thank Clinton.

 

[Truthmatters]

why did the banks who didnt even have to comply with CRA write a shit load of them and then roll them into securities and sell them?

 

[Truthmatters]

Note NOT ONE of these posters will explain HOW the information I gave is wrong or did not produce institutions that used the gap of rules to gain financially and in the process fuck us all?

 

[Truthmatters]

Becuase they cant is why.

Because that is why brokers in the past had to have licenses.

They do now too

 

[Truthmatters]

While this mess was being created they didnt have to have a license.


Gee what a cowinkydink

 

[Truthmatters]

Mac ........Toro????????


oh well have a merry christams

 

[CrusaderFrank]

Beofre GLB act brokers were accredited.

they had a license to lose if they acted in certain ways.

with NO broker rules the banks could tell any (trained and picked by the institution its self) broker to jsut do what your told or lose your job.


with the rules the broker could say " I cant do that I will lose my license".


It would END their carreer and put them in jail.


No broker rules means NO regulation.

are you catching on yet?

Jon Corzine broke the rules, he stole $1.2 Billion from his customers, he's not in jail

How come?