FACTS on Dubya's great recession

[EdwardBaiamonte]

No, YOUR posit WAS that inflation was IMPOSSIBLE without a federal reserve?

yes dear, today, not in the 19th Century since today only the Fed can legally print money and cause inflation!

Why bring up economics if you never studied it? If liberalism always makes you look stupid why be a liberal?

 

[EdwardBaiamonte]

Again ... Obama inherited an economy in recession ... Reagan did not. You lost this one, accept it.

true, Reagan was in a worse position than Obama in that the recession did not begin until Fed caused it shortly after Reagan took office!

 

[Dad2three]

No, YOUR posit WAS that inflation was IMPOSSIBLE without a federal reserve?

yes dear, today, not in the 19th Century since today only the Fed can legally print money and cause inflation!

Why bring up economics if you never studied it? If liberalism always makes you look stupid why be a liberal?

Sorry Bubba, have decided, after a closer look at your competitors on this forum, you are the most useless ideologue with honesty or a brain. Yep, you are #1

 

[EdwardBaiamonte]

No, YOUR posit WAS that inflation was IMPOSSIBLE without a federal reserve?

yes dear, today, not in the 19th Century since today only the Fed can legally print money and cause inflation!

Why bring up economics if you never studied it? If liberalism always makes you look stupid why be a liberal?

Sorry Bubba, have decided, after a closer look at your competitors on this forum, you are the most useless ideologue with honesty or a brain. Yep, you are #1

dumbto3: As a liberal I lack the IQ to respond substantively so I'll try to distract with violent person attack. You're kids must be proud, Dad.

 

[Procrustes Stretched]

Why is it so difficult for Liberals to live in the present?

Maybe because conservatives keep dragging them back into the past?

 

[Procrustes Stretched]

What did Bush OR Obama have to do with the Federal Reserves Zero Interest Rate Policy (ZIRP)?

Oh yeah, nothing. Because it's Privately Owned Bank.

The President has no influence over the FED?

Really? Cool

 

[Procrustes Stretched]

Bush tried 17 times to stop the community reinvestment act. He could never overcome Franklin Raines being black.

CRA is to blame?

"In 2004, it was Bush who started to push Fannie and Freddie into subprime mortgages, because they were boasting about how they were expanding homeownership for low-income people. And I said at the time, 'Hey—(a) this is going to jeopardize their profitability, but (b) it's going to put people in homes they can't afford, and they're gonna lose them.'"

Barney Frank - Wikipedia the free encyclopedia 2009 Frank responded to what he called "wholly inaccurate efforts by Republicans to blame Democrats, and [me] in particular" for the subprime mortgage crisis, which is linked to the financial crisis of 2007–2009.[49] He outlined his efforts to reform these institutions and add regulations, but met resistance from Republicans, with the main exception being a bill with Republican Mike Oxley that died because of opposition from President Bush.[49] The 2005 bill included Frank objectives, which were to impose tighter regulation of Fannie and Freddie and new funds for rental housing. Frank and Mike Oxley achieved broad bipartisan support for the bill in the Financial Services Committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank. In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters."

​

FACTS are stubborn things

 

[Procrustes Stretched]

yep

 

[Wry Catcher]

Bush tried 17 times to stop the community reinvestment act. He could never overcome Franklin Raines being black.

CRA is to blame?

"In 2004, it was Bush who started to push Fannie and Freddie into subprime mortgages, because they were boasting about how they were expanding homeownership for low-income people. And I said at the time, 'Hey—(a) this is going to jeopardize their profitability, but (b) it's going to put people in homes they can't afford, and they're gonna lose them.'"

Barney Frank - Wikipedia the free encyclopedia 2009 Frank responded to what he called "wholly inaccurate efforts by Republicans to blame Democrats, and [me] in particular" for the subprime mortgage crisis, which is linked to the financial crisis of 2007–2009.[49] He outlined his efforts to reform these institutions and add regulations, but met resistance from Republicans, with the main exception being a bill with Republican Mike Oxley that died because of opposition from President Bush.[49] The 2005 bill included Frank objectives, which were to impose tighter regulation of Fannie and Freddie and new funds for rental housing. Frank and Mike Oxley achieved broad bipartisan support for the bill in the Financial Services Committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank. In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters."

​

FACTS are stubborn things

Wow! One more lie by the right wing exposed for what it is, a BIG LIE often repeated.
For this reason alone this post by needs a thread of its own. Maybe a Forum: BIG LIES Exposed with FACTS

 

[EdwardBaiamonte]

What did Bush OR Obama have to do with the Federal Reserves Zero Interest Rate Policy (ZIRP)?

Oh yeah, nothing. Because it's Privately Owned Bank.

The President controls the Fed by appointing the Chairman. Case closed.

 

[Procrustes Stretched]

What did Bush OR Obama have to do with the Federal Reserves Zero Interest Rate Policy (ZIRP)?

Oh yeah, nothing. Because it's Privately Owned Bank.

The President controls the Fed by appointing the Chairman. Case closed.

As stipulated by the Banking Act of 1935, the President appoints the seven members of the Board of Governors; they must then be confirmed by the Senate and serve for 14 years only .[6] Once appointed, Governors may not be removed from office for their policy opinions.[citation needed]

The nominees for chair and vice-chair may be chosen by the President from among the sitting Governors for four-year terms; these appointments are also subject to Senate confirmation.[7] By law, the chair reports twice a year to Congress on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other issues and meets periodically with the Treasury Secretary.

Chair of the Federal Reserve - Wikipedia the free encyclopedia​

 

[EdwardBaiamonte]

What did Bush OR Obama have to do with the Federal Reserves Zero Interest Rate Policy (ZIRP)?

Oh yeah, nothing. Because it's Privately Owned Bank.

The President controls the Fed by appointing the Chairman. Case closed.

As stipulated by the Banking Act of 1935, the President appoints the seven members of the Board of Governors; they must then be confirmed by the Senate and serve for 14 years only .[6] Once appointed, Governors may not be removed from office for their policy opinions.[citation needed]

The nominees for chair and vice-chair may be chosen by the President from among the sitting Governors for four-year terms; these appointments are also subject to Senate confirmation.[7] By law, the chair reports twice a year to Congress on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other issues and meets periodically with the Treasury Secretary.

Chair of the Federal Reserve - Wikipedia the free encyclopedia​

thanks for agreeing

 

[Faun]

Bush tried 17 times to stop the community reinvestment act. He could never overcome Franklin Raines being black.

Can you explain how Bush did that given the CRA was passed in the 1970's and Bush was drunk and unemployed at the time?

 

[EdwardBaiamonte]

Bush tried 17 times to stop the community reinvestment act. He could never overcome Franklin Raines being black.

Can you explain how Bush did that given the CRA was passed in the 1970's and Bush was drunk and unemployed at the time?

if it was Bush's recession then it only proves that liberalism is idiotic.

 

[Dad2three]

What did Bush OR Obama have to do with the Federal Reserves Zero Interest Rate Policy (ZIRP)?

Oh yeah, nothing. Because it's Privately Owned Bank.

The President controls the Fed by appointing the Chairman. Case closed.

Small brained little con. WORLD WIDE CREDIT BUBBLE AND BUST BY THE BANKSTERS

 

[Dad2three]

Bush tried 17 times to stop the community reinvestment act. He could never overcome Franklin Raines being black.

Can you explain how Bush did that given the CRA was passed in the 1970's and Bush was drunk and unemployed at the time?

if it was Bush's recession then it only proves that liberalism is idiotic.

Conservatives deny facts and never explain their positions because they can't. Their positions have no basis in reality and are unsustainable, so the only thing they can do is obfuscate, deny, attack and deflect.

“When regulators don’t believe in regulation and don’t get what is going on at the companies they oversee, there can be no major white-collar crime prosecutions,”...“If they don’t understand what we call collective embezzlement, where people are literally looting their own firms, then it’s impossible to bring cases.”

http://www.nytimes.com/2011/04/14/business/14prosecute.html?pagewanted=all

The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence.
'
The Two Documents Everyone Should Read to Better Understand the Crisis William K. Black

Dubya was warned by the FBI of an "epidemic" of mortgage fraud in 2004. He gave them less resources.

FBI saw threat of loan crisis - Los Angeles Times

Shockingly, the FBI clearly makes the case for the need to combat mortgage fraud in 2005, the height of the housing crisis:

Financial Crimes Report to the Public 2005

FBI mdash Financial Crimes Report 2005

The Bush Rubber Stamp Congress ignored the obvious and extremely detailed and well reported crime spree by the FBI.

THE BUSH ADMINISTRATION and CONGRESS stripped the White Collar Crime divisions of money and manpower.

http://www.nytimes.com/2008/10/19/washington/19fbi.html?pagewanted=all

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

 

[EdwardBaiamonte]

Small brained little con. WORLD WIDE CREDIT BUBBLE AND BUST BY THE BANKSTERS

why does dumbto3 say, by the worldwide banksters rather than by libsoviet regulation?? Does dumbto3 deny that soviet govt regulation caused the USSR economic system to collapse?

 

[Dad2three]

Small brained little con. WORLD WIDE CREDIT BUBBLE AND BUST BY THE BANKSTERS

why does dumbto3 say, by the worldwide banksters rather than by libsoviet regulation?? Does dumbto3 deny that soviet govt regulation caused the USSR economic system to collapse?

Got it. As usual you can't stay on topic or use your tiny little brain for anything but a door stop...

 

[Faun]

Bush tried 17 times to stop the community reinvestment act. He could never overcome Franklin Raines being black.

Can you explain how Bush did that given the CRA was passed in the 1970's and Bush was drunk and unemployed at the time?

if it was Bush's recession then it only proves that liberalism is idiotic.

Only the most severely retarded idiots believe Bush was a Liberal. And did you not vote for him at least twice?

 

[EdwardBaiamonte]

Small brained little con. WORLD WIDE CREDIT BUBBLE AND BUST BY THE BANKSTERS

why does dumbto3 say, by the worldwide banksters rather than by libsoviet regulation?? Does dumbto3 deny that soviet govt regulation caused the USSR economic system to collapse?

Got it. As usual you can't stay on topic or use your tiny little brain for anything but a door stop...

4th time: why does dumbto3 say, by the worldwide banksters rather than by libsoviet regulation?? Does dumbto3 deny that soviet govt regulation caused the USSR economic system to collapse?