Democrats controlled both Chambers

[freedombecki]

Does 2 years count as several? Democrats won both houses in 2006 leaving 6 years when Bush could pass any kind of crazy thing and did.

In 6 years under George W. Bush and the Republican controlled House and Senate, they totalled $3.4 trillion in debt, and while I am not excusing that, the mere fact that under Obama and the Democrat controlled House and Senate -- in just one year they added $3 trillion to the debt. So, wow, in just one year, the Democrats came $400 billion short of 6 years of Bush and Republicans. Way to go Democrats....you economic geniuses you!!

Mr. Obama's polices, his, not the continuations of pre-existing spending programs have cost us far less that any one deficit exploding measure such as Bush tax cuts or part d, or the wars.

And Obama can't come up with a budget because:

1. It will inhibit his overspending
2. It will inhibit his overspending
3. It will inhibit his overspending
4. It will inhibit his overspending
5. All of the above.

 

[RetiredGySgt]

Does 2 years count as several? Democrats won both houses in 2006 leaving 6 years when Bush could pass any kind of crazy thing and did.

In 6 years under George W. Bush and the Republican controlled House and Senate, they totalled $3.4 trillion in debt, and while I am not excusing that, the mere fact that under Obama and the Democrat controlled House and Senate -- in just one year they added $3 trillion to the debt. So, wow, in just one year, the Democrats came $400 billion short of 6 years of Bush and Republicans. Way to go Democrats....you economic geniuses you!!

Mr. Obama's polices, his, not the continuations of pre-existing spending programs have cost us far less that any one deficit exploding measure such as Bush tax cuts or part d, or the wars.

Wrong the entire 8 years under Bush we say a total of 6trillion increase in the debt, that includes 4 years were the democrats controlled at least one house of Congress. Under Obama in 4 years we will see 6 trillion. he spent just as much TWICE as fast.

 

[occupied]

For several years starting when Bush was still in office and a couple of years into Obama's term. Why republicans get all the blame is beyond me, not to mention Bush who had to deal with a democratic controlled Congress. So if Obama didn't get much done the two first years, well that is not the fault of republicans.......

The reason republicans get he blame is because their policies are the ones that caused the housing bubble and the banking panic. Furthermore Obama got more done in his first 2 years then probably any president since the 80's

The Housing bust brought down the Market and guess who defeated 3 attempts by Bush and McCain to regulate said market more? Barney Frank in the House and Chris Dodd in the Senate. Hell Barney Frank was on National TV just before the collapse stating that the market was sound and the ONLY danger it faced was more regulations. Further the deregulation and the bad loan practice was created while Clinton was President he signed the bills and he and the Democrats including Obama as a lawyer pressured banks to make bad loans. The person in charge of the Government agencies doing housing loans were Democrats.

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

 

[RetiredGySgt]

The reason republicans get he blame is because their policies are the ones that caused the housing bubble and the banking panic. Furthermore Obama got more done in his first 2 years then probably any president since the 80's

The Housing bust brought down the Market and guess who defeated 3 attempts by Bush and McCain to regulate said market more? Barney Frank in the House and Chris Dodd in the Senate. Hell Barney Frank was on National TV just before the collapse stating that the market was sound and the ONLY danger it faced was more regulations. Further the deregulation and the bad loan practice was created while Clinton was President he signed the bills and he and the Democrats including Obama as a lawyer pressured banks to make bad loans. The person in charge of the Government agencies doing housing loans were Democrats.

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

Guess who opposed every effort by Bush andMcCain to regulate the Housing market? Why it was barney Frank and Chris Dodd. Guess what party they belong to? Guess who was on National TV just before the collapse and stated that the market was sound and the only threat to it was more regulations? Why that would be Democrat Barney Frank. Guess who got kick backs from the Housing Industry? None other then Chris Dodd, and remind me, isn't he a Democrat?

 

[SniperFire]

1. Tax cuts 2001-2002 (4 trillion over 10 years)

LOL

You can't get past #1 before failure.

Federal tax receipts hit RECORDS in both 2006 and 2007, just as planned - thanks to the Bush tax cuts. That Clinton's housing bubble crashed the economy is unrelated.

 

[occupied]

The Housing bust brought down the Market and guess who defeated 3 attempts by Bush and McCain to regulate said market more? Barney Frank in the House and Chris Dodd in the Senate. Hell Barney Frank was on National TV just before the collapse stating that the market was sound and the ONLY danger it faced was more regulations. Further the deregulation and the bad loan practice was created while Clinton was President he signed the bills and he and the Democrats including Obama as a lawyer pressured banks to make bad loans. The person in charge of the Government agencies doing housing loans were Democrats.

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

Guess who opposed every effort by Bush andMcCain to regulate the Housing market? Why it was barney Frank and Chris Dodd. Guess what party they belong to? Guess who was on National TV just before the collapse and stated that the market was sound and the only threat to it was more regulations? Why that would be Democrat Barney Frank. Guess who got kick backs from the Housing Industry? None other then Chris Dodd, and remind me, isn't he a Democrat?

Here's a timeline listing all actions, bills and votes on the matter, what do you think?

http://democrats.financialservices....11/timeline_for_fannie_freddie_regulation.pdf

 

[SniperFire]

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

Guess who opposed every effort by Bush andMcCain to regulate the Housing market? Why it was barney Frank and Chris Dodd. Guess what party they belong to? Guess who was on National TV just before the collapse and stated that the market was sound and the only threat to it was more regulations? Why that would be Democrat Barney Frank. Guess who got kick backs from the Housing Industry? None other then Chris Dodd, and remind me, isn't he a Democrat?

Here's a timeline listing all actions, bills and votes on the matter, what do you think?

http://democrats.financialservices....11/timeline_for_fannie_freddie_regulation.pdf

Is Clinton's revision to the Community Reinvestment Act the seminal event in your list?

 

[Rocko]

Does 2 years count as several? Democrats won both houses in 2006 leaving 6 years when Bush could pass any kind of crazy thing and did.

Be fair. It was the last two years when things unravelled.

Maybe you can supply a little cause and effect there?

democrats came into power = cause

We've been fucked since = effect

 

[Misty]

For several years starting when Bush was still in office and a couple of years into Obama's term. Why republicans get all the blame is beyond me, not to mention Bush who had to deal with a democratic controlled Congress. So if Obama didn't get much done the two first years, well that is not the fault of republicans.......

The reason republicans get he blame is because their policies are the ones that caused the housing bubble and the banking panic. Furthermore Obama got more done in his first 2 years then probably any president since the 80's

"“Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong.” – Congressman Artur Davis (D-AL) , September 30, 2008"

 

[SniperFire]

Be fair. It was the last two years when things unravelled.

Maybe you can supply a little cause and effect there?

democrats came into power = cause

We've been fucked since = effect

ahhh. The good ol' Pre-Pelosi days....

December 2007 Marks Record 52nd Consecutive Month Of Job Growth.
Publication: Business Wire
Date: Friday, January 4 2008

More Than 8.3 Million Jobs Created Since August 2003 In Longest Continuous Run Of Job Growth On Record

WASHINGTON -- Today, the Bureau of Labor Statistics released new jobs figures - 18,000 jobs created in December. Since August 2003, more than 8.3 million jobs have been created, with more than 1.3 million jobs created throughout 2007. Our economy has now added jobs for 52 straight months - the longest period of uninterrupted job growth on record. The unemployment rate remains low at 5 percent.'

http://www.allbusiness.com/economy-economic-indi cators/economic-indicators/5848024-1.html

 

[Staidhup]

The reason republicans get he blame is because their policies are the ones that caused the housing bubble and the banking panic. Furthermore Obama got more done in his first 2 years then probably any president since the 80's

The Housing bust brought down the Market and guess who defeated 3 attempts by Bush and McCain to regulate said market more? Barney Frank in the House and Chris Dodd in the Senate. Hell Barney Frank was on National TV just before the collapse stating that the market was sound and the ONLY danger it faced was more regulations. Further the deregulation and the bad loan practice was created while Clinton was President he signed the bills and he and the Democrats including Obama as a lawyer pressured banks to make bad loans. The person in charge of the Government agencies doing housing loans were Democrats.

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

You are aware that the Gramm Leach Biliey act of November 1999 was sponsored by one Chuck Shumer and Chris Dodd who guaranteed the democratic party would fall in behind the act, furthermore that Barney was a big supporter? Or did you just overlook this small bit of fact? Furthermore you are aware that the effort to remove the GSE from government control proposed by Reagan in the early 1980's was shut down by what party and by whom? take flying guess? My assumption that the cumulative effect of 60 plus years of government meddling in the housing industry was all the republicans fault? As one Milton Friedman once stated, the role of government is to govern not to meddle control, and intrude in the free market for it has the mechanisms built in to punish and reward poor management.
But heck when you have nothing to stand on why not blame someone else for your miserable record.

 

[occupied]

Guess who opposed every effort by Bush andMcCain to regulate the Housing market? Why it was barney Frank and Chris Dodd. Guess what party they belong to? Guess who was on National TV just before the collapse and stated that the market was sound and the only threat to it was more regulations? Why that would be Democrat Barney Frank. Guess who got kick backs from the Housing Industry? None other then Chris Dodd, and remind me, isn't he a Democrat?

Here's a timeline listing all actions, bills and votes on the matter, what do you think?

http://democrats.financialservices....11/timeline_for_fannie_freddie_regulation.pdf

Is Clinton's revision to the Community Reinvestment Act the seminal event in your list?

It's a history of F+F regulation blowing apart the myth that the bad old democrats fought F+F regulation all the way, as to the myth of CRA being the cause, were foreclosures concentrated around city centers? They were not. The most damaging event in the early stages of the crash were real estate speculators walking away from lucrative short term loans, where does the CRA figure into that?

 

[SniperFire]

The reason republicans get he blame is because their policies are the ones that caused the housing bubble

Hilarious.

Name one Washington Democrat who ever railed against the practice of making mortgage loans to poor people who could never hope to pay it back.

bump for Libtards. Surely you can come up with one name?

 

[SniperFire]

Here's a timeline listing all actions, bills and votes on the matter, what do you think?

http://democrats.financialservices....11/timeline_for_fannie_freddie_regulation.pdf

Is Clinton's revision to the Community Reinvestment Act the seminal event in your list?

It's a history of F+F regulation blowing apart the myth that the bad old democrats fought F+F regulation all the way, as to the myth of CRA being the cause, were foreclosures concentrated around city centers? They were not. The most damaging event in the early stages of the crash were real estate speculators walking away from lucrative short term loans, where does the CRA figure into that?

I asked you the questions first, commie traitor.

 

[Locke11_21]

Does 2 years count as several? Democrats won both houses in 2006 leaving 6 years when Bush could pass any kind of crazy thing and did.

In 6 years under George W. Bush and the Republican controlled House and Senate, they totalled $3.4 trillion in debt, and while I am not excusing that, the mere fact that under Obama and the Democrat controlled House and Senate -- in just one year they added $3 trillion to the debt. So, wow, in just one year, the Democrats came $400 billion short of 6 years of Bush and Republicans. Way to go Democrats....you economic geniuses you!!

Mr. Obama's polices, his, not the continuations of pre-existing spending programs have cost us far less that any one deficit exploding measure such as Bush tax cuts or part d, or the wars.

Oh really!!! Well, how about we cover the fact that Obama and Democrats lied to the Congressional Budget Office(CBO) about how Obamacare would cost $940 billion, in order to get the cost under $1 trillion. Well, as more comes out about Obamacare, the latest CBO numbers for the cost of Obamacare is $1.74 trillion. Since the Democrats and Obama lied to the CBO to get the numbers they wanted, well...outside of that and blaming Bush for everything from Cain killing Able to every problem that exists as I am replying to you, the Democrats and Obama have almost NOTHING. The only thing they have is people like you who are waiting for their latest talking points on what to repeat and how to repeat it. So, since this regime has manipulated everything from the numbers they have given to the CBO to unemployment numbers, I apologize for not taking anything you have replied with seriously.

 

[SniperFire]

'A key weapon in the Cisneros arsenal was the Clinton administration’s changes to the Community Reinvestment Act. The CRA was passed in 1977 and updated in 1995 to pressure lenders into making more loans to moderate-income borrowers by allowing regulators to deny merger approvals for banks with low CRA ratings. Even complaints brought by activists, such as the leftist group ACORN, were now counted against a bank’s CRA rating. The result was that banks began issuing more loans to otherwise uncreditworthy borrowers while purchasing more CRA mortgage-backed securities. As housing finance expert Peter Wallison noted, “The most important fact associated with the CRA is the effort to reduce underwriting standards. … Once those standards were relaxed … they spread rapidly to the prime market and to subprime markets where loans were made by lenders other than insured banks.”'

The next financial meltdown- and why Andrew Cuomo should be in prison [Reader Post] | Flopping Aces financial-meltdown-and-why-andrew-cuomo-should-b e-in-prison-reader-post/


Some CRA criteria that mandated higher risk lending if a bank did not want to be slapped with a negative CRA kiss of death:

- Percentage of loans made in the assessment area

- Distribution of loans among geographic areas, people of different income levels, and businesses of different sizes

- Quality of service for credit needs of extremely economically disadvantaged areas, low-income individuals, and small businesses

- Use of creative lending practices to address credit needs of low- or moderate-income people or neighborhoods

- Level of qualified community development investments and grants, particularly those not routinely provided by private investors

- Use of innovative or complex qualified investments to support community development needs

- Accessibility of services to all geographic areas and people of different income levels

http://www.frbatlanta.org/cra_invok...460-4A73-864B93A6780C7634&method=display_body



It is there in black and white.

What part of a bank using 'Creative lending practices' to service low-income neighborhoods do you not get?

 

[occupied]

The Housing bust brought down the Market and guess who defeated 3 attempts by Bush and McCain to regulate said market more? Barney Frank in the House and Chris Dodd in the Senate. Hell Barney Frank was on National TV just before the collapse stating that the market was sound and the ONLY danger it faced was more regulations. Further the deregulation and the bad loan practice was created while Clinton was President he signed the bills and he and the Democrats including Obama as a lawyer pressured banks to make bad loans. The person in charge of the Government agencies doing housing loans were Democrats.

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

You are aware that the Gramm Leach Biliey act of November 1999 was sponsored by one Chuck Shumer and Chris Dodd who guaranteed the democratic party would fall in behind the act, furthermore that Barney was a big supporter? Or did you just overlook this small bit of fact? Furthermore you are aware that the effort to remove the GSE from government control proposed by Reagan in the early 1980's was shut down by what party and by whom? take flying guess? My assumption that the cumulative effect of 60 plus years of government meddling in the housing industry was all the republicans fault? As one Milton Friedman once stated, the role of government is to govern not to meddle control, and intrude in the free market for it has the mechanisms built in to punish and reward poor management.
But heck when you have nothing to stand on why not blame someone else for your miserable record.

I think we all bought the free market crap at least a little bit, the smart ones wised-up long ago.

 

[SniperFire]

Three F+F regulation bills 2005, 2006, 2007, guess which one finally got passed and who sponsored it.

You are aware that the Gramm Leach Biliey act of November 1999 was sponsored by one Chuck Shumer and Chris Dodd who guaranteed the democratic party would fall in behind the act, furthermore that Barney was a big supporter? Or did you just overlook this small bit of fact? Furthermore you are aware that the effort to remove the GSE from government control proposed by Reagan in the early 1980's was shut down by what party and by whom? take flying guess? My assumption that the cumulative effect of 60 plus years of government meddling in the housing industry was all the republicans fault? As one Milton Friedman once stated, the role of government is to govern not to meddle control, and intrude in the free market for it has the mechanisms built in to punish and reward poor management.
But heck when you have nothing to stand on why not blame someone else for your miserable record.

I think we all bought the free market crap at least a little bit, the smart ones wised-up long ago.

Give us the name of ONE Democrat who stood up against these practices.

 

[francoHFW]

For the BILLIONTH time, Dems had 60 votes in the Senate for LESS than SIX MONTHS. Seating of Frankel 7/7/2009 till seating of Scott Brown 2/4/2010. FERCHRISSAKE!!

Just shows you how powerful the Pub Propaganda Machine is...

 

[Rocko]

For the BILLIONTH time, Dems had 60 votes in the Senate for LESS than SIX MONTHS. Seating of Frankel 7/7/2009 till seating of Scott Brown 2/4/2010. FERCHRISSAKE!!

Just shows you how powerful the Pub Propaganda Machine is...

what's the point????