Factcheck.org: increasing health care costs not because of ObamaCare

[Theowl32]

Well gee maybe you if you actually read the thread, you would know that the economy has added over 3 million new private jobs since he came into office.

You got nothing. You can't explain what makes it fraudulent so see your way out.

I got plenty.

If you lost more than you gain that means you have a net loss.


During the Bush Administration we actually gained 6 million new jobs. But Democrats put a spin on it. They claimed that all of those jobs were entry-level jobs that paid lower. Now, that's not even a consideration because any job is good enough for Democrats. Even part-time jobs are counted as full-time.

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

The last time the republicans had majority power, the unemployment rate was 4.6 percent.

Then the democrats took over power in 2007. Remember? Bush and the republicans were neutered. Thanks in large part to a media that harped the economy was so bad cause of high gas prices. They called that corporate cronyism.

They said nothing of the low unemployment rate. Interestingly, that same media BRAGGED about the unemployment rate "falling to 7.8 percent" (which turned out to be yet another lie) in Oct of 2012. They also, interestingly enough, did not say a fucking word about the fact that the price at the pump was the highest ever. Get that? You fucking hypocrite.

Here is that graph.

Labor Force Statistics from the Current Population Survey

Here we go folks. The left will now blame the housing bubble on Bush, even though it was a clear bipartisan problem. They will blame the deregulations of the banks on Bush and the republicans. Even though it was in fact Clinton that repealed Glass Steagall. Yeah, Clinton repealed Glass Steagall.

Hell, the same fucking hypocrites on the left still do not know nor do they care, that Clinton signed the Iraq Liberation Act for WMDs before Bush took office. They have no clue that Clinton gave at least 4 no bid contracts to Halliburton in the 90s. Remember that big bad wolf? Halliburton? Remember how much they supposedly cared about that? I do.


I just presented facts as well. How about those facts? One thing is for sure. Liberals could not care less about any subject, except for the one that is hyped by the left wing media at the time. They get all whipped up into a frenzy. They pretend to care, but at the end of the say, they stand for nothing.

Hey Gitmo is still open.........


You ignorant morons.

 

[The Rabbi]

Oops
Obamacare will help drive down health care costs - CNN.com

http://www.nytimes.com/2013/12/03/b...s-likely-to-cost-less-than-expected.html?_r=0

So when health care costs slowed, it was because of Obamacare. Now that health care costs are rising, it isn't because of Obamacare.

Libs are two faced liars. Or downright stupid.

 

[P@triot]

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

So how do you measure net job gain? I'm wondering how Obama can possibly come out ahead any way you measure it.

Do me a favor and google "more new jobs under Obama than Bush" and see how many links you find that back up my claims.

Any bullshit coming from Fox News or Forbes doesn't count. Non partisan sources.

Liberal "logic" - Bush takes over a decent economy and keeps it running despite Clinton's policies which are starting to collapse it. He maintains the status quo - which means there isn't much growth (but there isn't any loss either).

Meanwhile, Obama causes the economy to lose 70 million jobs. After unconstitutionally spending trillions, he gets 20 million to return. Dumbocrats like Billy here (weak minded and easily duped) celebrate that Obama "created" 20 million jobs.

He didn't create 20 million jobs, he lost 50 million. The net result is -50 million junior (and no, these are not exact numbers - this is an example).

If Obama "created" so many jobs, how do you account for the fact that his entire presidency has had higher unemployment numbers that Bush's worst unemployment numbers? And don't give me the "6.7%" bullshit. Obama was CAUGHT lying about his numbers.

 

[Theowl32]

Oops
Obamacare will help drive down health care costs - CNN.com

http://www.nytimes.com/2013/12/03/b...s-likely-to-cost-less-than-expected.html?_r=0

So when health care costs slowed, it was because of Obamacare. Now that health care costs are rising, it isn't because of Obamacare.

Libs are two faced liars. Or downright stupid.

They stand on both sides of every issue. They shift like soft sand. It is virtually impossbile to argue with such bullshit.

The only thing we can do is point out their double standards, their double talk, and their hypocrisy.

They protest and occupy wallstreet, and brag that the dow jones is so high under Obama.

They are ignorant scumbags.

 

[zeke]

How is this fraud? You can't even answer that question.

Fraud is easy to look up.

fraud
[frawd] Show IPA
noun
1.
deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.
2.
a particular instance of such deceit or trickery: mail fraud; election frauds.
3.
any deception, trickery, or humbug: That diet book is a fraud and a waste of time.
4.
a person who makes deceitful pretenses; sham; poseur.

Yes and you can't explain what makes my OP fraudulent.

Billy, are you asking a bunch of lying mother fucking right wing red neck republicans to engage in a serious perusal of facts and cause of something as complicated as heath care costs?

Why? You got a dog? You would get better conversation from your dog. Dog is smarter to.
But it is nice that you TRY and educated the retarded rethugs.

 

[Billy000]

I got plenty.

If you lost more than you gain that means you have a net loss.


During the Bush Administration we actually gained 6 million new jobs. But Democrats put a spin on it. They claimed that all of those jobs were entry-level jobs that paid lower. Now, that's not even a consideration because any job is good enough for Democrats. Even part-time jobs are counted as full-time.

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

The last time the republicans had majority power, the unemployment rate was 4.6 percent.

Then the democrats took over power in 2007. Remember? Bush and the republicans were neutered. Thanks in large part to a media that harped the economy was so bad cause of high gas prices. They called that corporate cronyism.

They said nothing of the low unemployment rate. Interestingly, that same media BRAGGED about the unemployment rate "falling to 7.8 percent" (which turned out to be yet another lie) in Oct of 2012. They also, interestingly enough, did not say a fucking word about the fact that the price at the pump was the highest ever. Get that? You fucking hypocrite.

Here is that graph.

Labor Force Statistics from the Current Population Survey

Here we go folks. The left will now blame the housing bubble on Bush, even though it was a clear bipartisan problem. They will blame the deregulations of the banks on Bush and the republicans. Even though it was in fact Clinton that repealed Glass Steagall. Yeah, Clinton repealed Glass Steagall.

Hell, the same fucking hypocrites on the left still do not know nor do they care, that Clinton signed the Iraq Liberation Act for WMDs before Bush took office. They have no clue that Clinton gave at least 4 no bid contracts to Halliburton in the 90s. Remember that big bad wolf? Halliburton? Remember how much they supposedly cared about that? I do.


I just presented facts as well. How about those facts? One thing is for sure. Liberals could not care less about any subject, except for the one that is hyped by the left wing media at the time. They get all whipped up into a frenzy. They pretend to care, but at the end of the say, they stand for nothing.

Hey Gitmo is still open.........


You ignorant morons.

You idiot. We lost 2.3 million jobs in Bush's final months. Millions more until the recovery act was passed.

 

[Theowl32]

Fraud is easy to look up.

Yes and you can't explain what makes my OP fraudulent.

Billy, are you asking a bunch of lying mother fucking right wing red neck republicans to engage in a serious perusal of facts and cause of something as complicated as heath care costs?

Why? You got a dog? You would get better conversation from your dog. Dog is smarter to.
But it is nice that you TRY and educated the retarded rethugs.

Go ahead and ignore my posts Zeke. You do not think you can debate me, do you?

 

[Theowl32]

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

The last time the republicans had majority power, the unemployment rate was 4.6 percent.

Then the democrats took over power in 2007. Remember? Bush and the republicans were neutered. Thanks in large part to a media that harped the economy was so bad cause of high gas prices. They called that corporate cronyism.

They said nothing of the low unemployment rate. Interestingly, that same media BRAGGED about the unemployment rate "falling to 7.8 percent" (which turned out to be yet another lie) in Oct of 2012. They also, interestingly enough, did not say a fucking word about the fact that the price at the pump was the highest ever. Get that? You fucking hypocrite.

Here is that graph.

Labor Force Statistics from the Current Population Survey

Here we go folks. The left will now blame the housing bubble on Bush, even though it was a clear bipartisan problem. They will blame the deregulations of the banks on Bush and the republicans. Even though it was in fact Clinton that repealed Glass Steagall. Yeah, Clinton repealed Glass Steagall.

Hell, the same fucking hypocrites on the left still do not know nor do they care, that Clinton signed the Iraq Liberation Act for WMDs before Bush took office. They have no clue that Clinton gave at least 4 no bid contracts to Halliburton in the 90s. Remember that big bad wolf? Halliburton? Remember how much they supposedly cared about that? I do.


I just presented facts as well. How about those facts? One thing is for sure. Liberals could not care less about any subject, except for the one that is hyped by the left wing media at the time. They get all whipped up into a frenzy. They pretend to care, but at the end of the say, they stand for nothing.

Hey Gitmo is still open.........


You ignorant morons.

You idiot. We lost 2.3 million jobs in Bush's final months. Millions more until the recovery act was passed.

Yeah, you fucking moron. In Bush's final months? When Pelosi and the democrats controlled the HOUSE AND SENATE?

Name the fucking policy that Bush passed that led directly to the deregulated derivatives. Name the specific thing that lead to the unemployment sky rocketing.

You stupid ass clown.

You have any fucking clue about the separation of powers? The republicans had MAJORITY power from 1994 till 2007.

The democrats have had majority power from 2007 till present.

Ignorant hypocritical ass.

 

[Billy000]

The last time the republicans had majority power, the unemployment rate was 4.6 percent.

Then the democrats took over power in 2007. Remember? Bush and the republicans were neutered. Thanks in large part to a media that harped the economy was so bad cause of high gas prices. They called that corporate cronyism.

They said nothing of the low unemployment rate. Interestingly, that same media BRAGGED about the unemployment rate "falling to 7.8 percent" (which turned out to be yet another lie) in Oct of 2012. They also, interestingly enough, did not say a fucking word about the fact that the price at the pump was the highest ever. Get that? You fucking hypocrite.

Here is that graph.

Labor Force Statistics from the Current Population Survey

Here we go folks. The left will now blame the housing bubble on Bush, even though it was a clear bipartisan problem. They will blame the deregulations of the banks on Bush and the republicans. Even though it was in fact Clinton that repealed Glass Steagall. Yeah, Clinton repealed Glass Steagall.

Hell, the same fucking hypocrites on the left still do not know nor do they care, that Clinton signed the Iraq Liberation Act for WMDs before Bush took office. They have no clue that Clinton gave at least 4 no bid contracts to Halliburton in the 90s. Remember that big bad wolf? Halliburton? Remember how much they supposedly cared about that? I do.


I just presented facts as well. How about those facts? One thing is for sure. Liberals could not care less about any subject, except for the one that is hyped by the left wing media at the time. They get all whipped up into a frenzy. They pretend to care, but at the end of the say, they stand for nothing.

Hey Gitmo is still open.........


You ignorant morons.

You idiot. We lost 2.3 million jobs in Bush's final months. Millions more until the recovery act was passed.

Yeah, you fucking moron. In Bush's final months? When Pelosi and the democrats controlled the HOUSE AND SENATE?

Name the fucking policy that Bush passed that led directly to the deregulated derivatives. Name the specific thing that lead to the unemployment sky rocketing.

You stupid ass clown.

You have any fucking clue about the separation of powers? The republicans had MAJORITY power from 1994 till 2007.

The democrats have had majority power from 2007 till present.

Ignorant hypocritical ass.

You dimbass that massive job loss rate started in SEPTEMBER of 2008. Equating that with democrats is fucking stupid. If dems are the reason for our mess, why were over 3 million private jobs created since Obama came to office?

 

[deltex1]

The point is that health costs are continuing to rise, when Obabble said his plan would reduce costs. Fuck your OP...deal with the reality.

 

[mudwhistle]

Well gee maybe you if you actually read the thread, you would know that the economy has added over 3 million new private jobs since he came into office.

You got nothing. You can't explain what makes it fraudulent so see your way out.

I got plenty.

If you lost more than you gain that means you have a net loss.


During the Bush Administration we actually gained 6 million new jobs. But Democrats put a spin on it. They claimed that all of those jobs were entry-level jobs that paid lower. Now, that's not even a consideration because any job is good enough for Democrats. Even part-time jobs are counted as full-time.

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

Nonsense. You're ignoring the growth that took place and only counting the losses caused by Democrat policies. Raising the minimum-wage, extending unemployment.

Let's forget about how liberals cheered on illegal immigration, or encouraged borrowers to default on loans, and withdraw their savings. Let's forget how Democrats whined about how bad the economy was even before it took a nosedive, as if they wanted it. Democrats screwed everything up on purpose, then blamed it on Republicans. Wanna know why nothing gets done in Washington? Because the Dems decided that a sound economy doesn't assure they'll win elections. They took opposing views on every GOP talking-point. Smaller government, lower taxes, helping businesses to create jobs. Nope, they believe only in a welfare state. Nobody has the freedom to make their own choices in life. You have to ask for permission from the government on what to eat. How much you can earn. Where to shit.

 

[Billy000]

I got plenty.

If you lost more than you gain that means you have a net loss.


During the Bush Administration we actually gained 6 million new jobs. But Democrats put a spin on it. They claimed that all of those jobs were entry-level jobs that paid lower. Now, that's not even a consideration because any job is good enough for Democrats. Even part-time jobs are counted as full-time.

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

Nonsense. You're ignoring the growth that took place and only counting the losses caused by Democrat policies. Raising the minimum-wage, extending unemployment.

Let's forget about how liberals cheered on illegal immigration, or encouraged borrowers to default on loans, and withdraw their savings. Let's forget how Democrats whined about how bad the economy was even before it took a nosedive, as if they wanted it. Democrats screwed everything up on purpose, then blamed it on Republicans. Wanna know why nothing gets done in Washington? Because the Dems decided that a sound economy doesn't assure they'll win elections. They took opposing views on every GOP talking-point. Smaller government, lower taxes, helping businesses to create jobs. Nope, they believe only in a welfare state. Nobody has the freedom to make their own choices in life. You have to ask for permission from the government on what to eat. How much you can earn. Where to shit.

Gee and how do you explain what happened in sept of 2008? We lost millions of millions of jobs.

 

[The Rabbi]

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

Nonsense. You're ignoring the growth that took place and only counting the losses caused by Democrat policies. Raising the minimum-wage, extending unemployment.

Let's forget about how liberals cheered on illegal immigration, or encouraged borrowers to default on loans, and withdraw their savings. Let's forget how Democrats whined about how bad the economy was even before it took a nosedive, as if they wanted it. Democrats screwed everything up on purpose, then blamed it on Republicans. Wanna know why nothing gets done in Washington? Because the Dems decided that a sound economy doesn't assure they'll win elections. They took opposing views on every GOP talking-point. Smaller government, lower taxes, helping businesses to create jobs. Nope, they believe only in a welfare state. Nobody has the freedom to make their own choices in life. You have to ask for permission from the government on what to eat. How much you can earn. Where to shit.

Gee and how do you explain what happened in sept of 2008? We lost millions of millions of jobs.

Who controlled the House?
Anyway, that was a long time ago. Obozo has had 5 years to fix that. He promised to get it fixed in 4 otherwise it would be a one term presidency. He lied on both counts.
Bush inherited a meltdown from Clinton and a disemboweled military. He turned it around in 3 years. Most presidents who inherit an economic mess figure out ways to change things rather than deflecting blame to their predecessors. That's called "character." Obama doesnt have it.

 

[Theowl32]

Your ignorance is astounding. You can't compare the number of people in the work force from the beginning of his term to the number at the end. That isn't how you measure net job gain. Any economist will tell you that. The reality is that job growth under bush was pathetic.

Nonsense. You're ignoring the growth that took place and only counting the losses caused by Democrat policies. Raising the minimum-wage, extending unemployment.

Let's forget about how liberals cheered on illegal immigration, or encouraged borrowers to default on loans, and withdraw their savings. Let's forget how Democrats whined about how bad the economy was even before it took a nosedive, as if they wanted it. Democrats screwed everything up on purpose, then blamed it on Republicans. Wanna know why nothing gets done in Washington? Because the Dems decided that a sound economy doesn't assure they'll win elections. They took opposing views on every GOP talking-point. Smaller government, lower taxes, helping businesses to create jobs. Nope, they believe only in a welfare state. Nobody has the freedom to make their own choices in life. You have to ask for permission from the government on what to eat. How much you can earn. Where to shit.

Gee and how do you explain what happened in sept of 2008? We lost millions of millions of jobs.

IT WAS A BIPARTISAN FUCKING PROBLEM YOU FUCKING UNBELIEVABLE HACK!

Oh and here is a timeline of facts in regards to the housing bubble. What Frank and Dodd did in regards to Fannie and Freddie.

The fact you ignore that fact that Clinton repealed Glass Steagall speaks volumes. You cannot handle that fact in regards to what caused deregulated derivatives.

Try this hack boy.

2001

April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)
2002

May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.


September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.


September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)


October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)


November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004

February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)


February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)


April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)


June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005

April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)


July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)


2007

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)


August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)


December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)


2008

February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)


March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)


April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)


May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.

"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)


"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)


"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)

June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)


July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.


September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08


Official White House archives.

Setting the Record Straight: Six Years of Unheeded Warnings for GSE Reform

How does it feel? How the fuck does it feel for the facts to utterly crush you and your stupid diatribe of left wing shit?

How does it feel that this country truly sank into unreal layers of shit only after the democrats took over power?

How the fuck does that feel?

Are you going to comment on the democrats propagating WMDs in Iraq before Bush took office?

Thought not. I know and you know you will not read the timeline.

Liberals, utterly fucking destroyed. What will they do? They will some how obfuscate, lie, pout and claim they really know what is going on.

Hypocrites.

 

[Billy000]

Nonsense. You're ignoring the growth that took place and only counting the losses caused by Democrat policies. Raising the minimum-wage, extending unemployment.

Let's forget about how liberals cheered on illegal immigration, or encouraged borrowers to default on loans, and withdraw their savings. Let's forget how Democrats whined about how bad the economy was even before it took a nosedive, as if they wanted it. Democrats screwed everything up on purpose, then blamed it on Republicans. Wanna know why nothing gets done in Washington? Because the Dems decided that a sound economy doesn't assure they'll win elections. They took opposing views on every GOP talking-point. Smaller government, lower taxes, helping businesses to create jobs. Nope, they believe only in a welfare state. Nobody has the freedom to make their own choices in life. You have to ask for permission from the government on what to eat. How much you can earn. Where to shit.

Gee and how do you explain what happened in sept of 2008? We lost millions of millions of jobs.

IT WAS A BIPARTISAN FUCKING PROBLEM YOU FUCKING UNBELIEVABLE HACK!

Oh and here is a timeline of facts in regards to the housing bubble. What Frank and Dodd did in regards to Fannie and Freddie.

The fact you ignore that fact that Clinton repealed Glass Steagall speaks volumes. You cannot handle that fact in regards to what caused deregulated derivatives.

Try this hack boy.

2001

April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)
2002

May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.


September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.


September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)


October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)


November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004

February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)


February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)


April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)


June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005

April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)


July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)


2007

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)


August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)


December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)


2008

February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)


March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)


April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)


May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.

"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)


"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)


"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)

June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)


July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.


September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08


Official White House archives.

Setting the Record Straight: Six Years of Unheeded Warnings for GSE Reform

How does it feel? How the fuck does it feel for the facts to utterly crush you and your stupid diatribe of left wing shit?

How does it feel that this country truly sank into unreal layers of shit only after the democrats took over power?

How the fuck does that feel?

Are you going to comment on the democrats propagating WMDs in Iraq before Bush took office?

Thought not. I know and you know you will not read the timeline.

Liberals, utterly fucking destroyed. What will they do? They will some how obfuscate, lie, pout and claim they really know what is going on.

Hypocrites.

Why the fuck are you talking about Clinton? I never even mentioned him. You wasted way too much time on this. Nothing was Bush's fault huh? You dumb hack.

 

[Theowl32]

Gee and how do you explain what happened in sept of 2008? We lost millions of millions of jobs.

IT WAS A BIPARTISAN FUCKING PROBLEM YOU FUCKING UNBELIEVABLE HACK!

Oh and here is a timeline of facts in regards to the housing bubble. What Frank and Dodd did in regards to Fannie and Freddie.

The fact you ignore that fact that Clinton repealed Glass Steagall speaks volumes. You cannot handle that fact in regards to what caused deregulated derivatives.

Try this hack boy.

2001

April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)
2002

May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.


September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.


September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)


October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)


November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004

February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)


February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)


April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)


June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005

April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)


July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)


2007

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)


August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)


December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)


2008

February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)


March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)


April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)


May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.

"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)


"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)


"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)

June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)


July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.


September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08


Official White House archives.

Setting the Record Straight: Six Years of Unheeded Warnings for GSE Reform

How does it feel? How the fuck does it feel for the facts to utterly crush you and your stupid diatribe of left wing shit?

How does it feel that this country truly sank into unreal layers of shit only after the democrats took over power?

How the fuck does that feel?

Are you going to comment on the democrats propagating WMDs in Iraq before Bush took office?

Thought not. I know and you know you will not read the timeline.

Liberals, utterly fucking destroyed. What will they do? They will some how obfuscate, lie, pout and claim they really know what is going on.

Hypocrites.

Why the fuck are you talking about Clinton? I never even mentioned him. You wasted way too much time on this. Nothing was Bush's fault huh? You dumb hack.

You are utterly destroyed. You did not even address the official timeline. Also, when I say it is a bipartisan problem, that means that I hold all of them to account.

I criticize republicans all of the time hack.

You have not held any democrat to account for shit hack.

You cannot even admit Obama lied about a thing. Considering everything he has campaigned and every promise he has made has been a complete lie, only illuminates the fact that you are nothing but a brainwashed sheep. You are a pawn.

Go ahead and ignore the number of warnings made by the administration in regards to the housing bubble. Clinton repealing Glass Steagall. Go ahead and ignore that too.

You lose. We win. Again.

[ame=http://www.youtube.com/watch?v=i8cw3COEHgc]Smack My Bitch Up - The Prodigy - / Worlds On Fire DVD / [HQ] - YouTube[/ame]

 

[Billy000]

IT WAS A BIPARTISAN FUCKING PROBLEM YOU FUCKING UNBELIEVABLE HACK!

Oh and here is a timeline of facts in regards to the housing bubble. What Frank and Dodd did in regards to Fannie and Freddie.

The fact you ignore that fact that Clinton repealed Glass Steagall speaks volumes. You cannot handle that fact in regards to what caused deregulated derivatives.

Try this hack boy.

2001

April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)
2002

May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.


September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.


September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)


October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)


November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004

February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)


February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)


April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)


June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005

April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)


July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)


2007

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)


August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)


December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)


2008

February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)


March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)


April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)


May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.

"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)


"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)


"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)

June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)


July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.


September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08


Official White House archives.

Setting the Record Straight: Six Years of Unheeded Warnings for GSE Reform

How does it feel? How the fuck does it feel for the facts to utterly crush you and your stupid diatribe of left wing shit?

How does it feel that this country truly sank into unreal layers of shit only after the democrats took over power?

How the fuck does that feel?

Are you going to comment on the democrats propagating WMDs in Iraq before Bush took office?

Thought not. I know and you know you will not read the timeline.

Liberals, utterly fucking destroyed. What will they do? They will some how obfuscate, lie, pout and claim they really know what is going on.

Hypocrites.

Why the fuck are you talking about Clinton? I never even mentioned him. You wasted way too much time on this. Nothing was Bush's fault huh? You dumb hack.

You are utterly destroyed. You did not even address the official timeline. Also, when I say it is a bipartisan problem, that means that I hold all of them to account.

I criticize republicans all of the time hack.

You have not held any democrat to account for shit hack.

You cannot even admit Obama lied about a thing. Considering everything he has campaigned and every promise he has made has been a complete lie, only illuminates the fact that you are nothing but a brainwashed sheep. You are a pawn.

Go ahead and ignore the number of warnings made by the administration in regards to the housing bubble. Clinton repealing Glass Steagall. Go ahead and ignore that too.

You lose. We win. Again.

[ame=http://www.youtube.com/watch?v=i8cw3COEHgc]Smack My Bitch Up - The Prodigy - / Worlds On Fire DVD / [HQ] - YouTube[/ame]

Lol what are you 14? Again I never even mentioned Clinton. I never even assigned blame. You did.

 

[Theowl32]

Why the fuck are you talking about Clinton? I never even mentioned him. You wasted way too much time on this. Nothing was Bush's fault huh? You dumb hack.

You are utterly destroyed. You did not even address the official timeline. Also, when I say it is a bipartisan problem, that means that I hold all of them to account.

I criticize republicans all of the time hack.

You have not held any democrat to account for shit hack.

You cannot even admit Obama lied about a thing. Considering everything he has campaigned and every promise he has made has been a complete lie, only illuminates the fact that you are nothing but a brainwashed sheep. You are a pawn.

Go ahead and ignore the number of warnings made by the administration in regards to the housing bubble. Clinton repealing Glass Steagall. Go ahead and ignore that too.

You lose. We win. Again.

[ame=http://www.youtube.com/watch?v=i8cw3COEHgc]Smack My Bitch Up - The Prodigy - / Worlds On Fire DVD / [HQ] - YouTube[/ame]

Lol what are you 14? Again I never even mentioned Clinton. I never even assigned blame. You did.

You stupid ignorant ass. Clinton repealing Glass Steagall is very fucking relevant to the economic collapse. It created the deregulated derivatives.

Since that was a bipartisan act, I also hold republicans to account for that.

The fact you keep on ignoring that fact, is your way of saying you have no clue what the Glass Steagall Act was, or what significance it was in contributing to the economic problems.

Along with the notion that you had no clue about the timeline in regards to the Bush Administration warning Fannie and Freddie no less than 17 times from 2001 to 1008. All ignored by Dodd and Frank.

Go giggle away like the demented liberal you are. You have been utterly crushed in this debate.

 

[kiwiman127]

Obama?s Numbers (January 2014 Update)

This increase is modest by historical standards.

According to your article:

But there’s scant evidence that the Affordable Care Act is causing the slowdown. The government economists and statisticians who track the spending said the law’s impact has been “minimal.”

The only reason for the slowdown, if there is one, is the poor economy. However, we all know that "factcheck.org" is a leftwing funded propaganda mill, so you can take anything it publishes with a big grain of salt.

Bripat, do you call out posters from your side who use right wing resources? No!
Personally, I'd love to see all posters use resources that aren't biased/slanted/etc; because everyday I come here and see posters from both sides use biased sites and way too many talking points that are non-factual which is just plain bullshit.

 

[Billy000]

You are utterly destroyed. You did not even address the official timeline. Also, when I say it is a bipartisan problem, that means that I hold all of them to account.

I criticize republicans all of the time hack.

You have not held any democrat to account for shit hack.

You cannot even admit Obama lied about a thing. Considering everything he has campaigned and every promise he has made has been a complete lie, only illuminates the fact that you are nothing but a brainwashed sheep. You are a pawn.

Go ahead and ignore the number of warnings made by the administration in regards to the housing bubble. Clinton repealing Glass Steagall. Go ahead and ignore that too.

You lose. We win. Again.

Smack My Bitch Up - The Prodigy - / Worlds On Fire DVD / [HQ] - YouTube

Lol what are you 14? Again I never even mentioned Clinton. I never even assigned blame. You did.

You stupid ignorant ass. Clinton repealing Glass Steagall is very fucking relevant to the economic collapse. It created the deregulated derivatives.

Since that was a bipartisan act, I also hold republicans to account for that.

The fact you keep on ignoring that fact, is your way of saying you have no clue what the Glass Steagall Act was, or what significance it was in contributing to the economic problems.

Along with the notion that you had no clue about the timeline in regards to the Bush Administration warning Fannie and Freddie no less than 17 times from 2001 to 1008. All ignored by Dodd and Frank.

Go giggle away like the demented liberal you are. You have been utterly crushed in this debate.

lol I still don't see how I was crushed. I merely made the point the dems election had nothig to do with what happened in 2008