He is still talking about the November election. Why?

[sealybobo]

He sees the facts through partisan glasses and claims he's above that

More BS! I never claimed that one party or the other caused the recession of 2008, I claimed many factors over decades. The fact neither party wants responsibility doesn't mean I am partisan. The fact you blame on party over the other is partisan.

I ask you right wingers to tell us what role Bush, Delay & Hastert played and all you can come up with is that they want along with Democrats too much. Like I said you are children. Ask you to apologize because you got caught you say sorry but ask you what you are sorry for and you can't verbalize what you did wrong. Because then that would be admitting we are right.

You guys admitted we were right when you didn't nominate Jeb Bush. Trump winning vindicates the American people don't want another Republican in the White House either.

Tell me what deregulations or bills of Tom Delay and Dennis Hastert that Bush signed that you don't like. You know a lot about Freddy Fanny Bill Clinton and Jimmy Carter and Barney Frank but do you know anything about the Bush Delay Hastert era? Why not? Was your head buried in the sand those 6 long agonizing years? Do you want to make light that the 2008 recession probably has more to do with what they did than what Carter or Clinton did.

I posted about this earlier, I didn't just blame Carter, Clinton, Bush, Frank, Delay or Hastert. I said it was the federal government doing and not doing things. If you want to blame and point fingers, I can do that all day and it gets nowhere. To me it was a government failing involving both of the sacred partys. Housing costs skyrocketed and most people knew it would end and when it did there was going to be some losers.

You need to understand it wasn't poor people who caused the crash it was rich people. Hell I believe it was done on purpose

Did I say poor people caused the crash? And it was bound to happen, American government, American businesses and American consumers were way into debt and could continue buy and spending, a retraction had to happen.

I'm at peace with what happened in the past. Sure some of what you say is accurate but I can tell you after arguing with Republicans for years, this is just right wing spin and deflection from the fact that Republicans fucked us good from 2000-2008. And you dumb mother fuckers put them back in power again? My how short your memories are. Or maybe you look back at the Bush years fondly. You sure seem to have your nose far up enough the GOP's ass that you probably do look back fondly at how Alberto Gonzales, Heck of a Job Brownie and Chaney ran the government. And how the American people rewarded the GOP obstructionists from 2008 to 2010 midterms by not showing up because they were frustrated at how government doesn't work. Republicans basically turned off any moderates or independents who voted for Obama and Pelosi and Reed on the Hope And Change platform. Ok so I'll admit the Democrats failed. No one to blame but themselves. At minimum they didn't sell the American people on their vision and they didn't use the bully pulpit enough. And of course no one is/was happy with Obamacare. The fucking healthcare giant corporations wrote that god awful law. We should have done single payer. But the rich got to a handful of blue dog democrats and that's all it took to get the ACA. I'll admit, it is horseshit. But it's a start. Now lets see Republicans IMPROVE on it. Or will they just repeal it and do away with medicare and have seniors find affordable coverage on the open market.

Anyways, I'm looking forward to the current Republican party proving me wrong. But if they suck balls and you keep defending it for the next 8 years, I'm going to call you on it. So far there's nothing to say. I don't care about banning muslims or throwing out illegals or abortion or planned parenthood. All I care about is the middle class. Are they better off in 4 years than they are today? Because we are better off today than we were 8 years ago.

Obama ranked 12th best president by historians in new C-SPAN poll

Just weeks after leaving the White House, President Barack Obama ranks as the 12th best U.S. president overall in a new poll of historians conducted by C-SPAN ahead of Presidents Day.

It's the first time Obama was eligible for the Presidential Historians Survey, which asked 91 historians to rank all 43 former presidents across 10 categories. Those include "Pursued Equal Justice for All," in which Obama ranked 3rd, to "Relations with Congress," in which he ranked 39th.

Also notable: George W. Bush bumped up three spots to 33rd since the poll's 2009 edition, while Bill Clinton stayed steady at 15th.

The biggest loser since the 2009 survey is Andrew Jackson, the populist president whose portrait adorns the wall of President Donald Trump's Oval Office. Jackson dropped five spots, from 13th to 18th.

I wonder where Trump will rank?

 

[sealybobo]

For the first time since the modern era of routine polling began with President Eisenhower, the new commander in chief heads into the crucial first chapter of his tenure with an approval rating that is below the percentage of the vote he won in the election.

 

[Faun]

Sorry companies weren't hiring after the 2000 election. I guess not a lot of consumer confidence.

No the dot com bubble was ending, it was a bubble that had to pop because it could not sustain its self. The recession had to have three quarters of shrinkage which started in July of 2000, want to be honest or play partisan nutter?

More bullshit.

The classic definition of a recession is at least two consecutive quarters of negative growth. The NBER doesn't rely on the classic definition; but instead, considers a recession to be a "significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."

What you described fits neither description.

So the significant decline of economic growth started in October 2000, while Clinton was President. Thank you.

No one denies there was a decline in economic growth in 2000. But by no measure ... not the classic definition of a recession ... not the parameters measured by the NBER ... not even by your made up definition ... by no measure does that qualify as a recession. You'll also note GDP in Q4 of 2000 was 2.1 percent.

As even you admit -- the recession began in March, 2001 -- Clinton was not president.

Never said he was President, I have said that over and over. The recession began less than 40 days after Bush became President, how in the hell can a logical person think that Bush caused the recession. If you can't read what I write, please don't respond with BS.

So what if it began shortly after Bush took office? Again, as you were shown, if not for 9.11, it was such a mild downturn, it probably wouldn't have been declared a recession.

 

[Faun]

Who told the bankers to bundle all the bad loans together? Who passed tax breaks to companies going overseas? Seems to me it was done on purpose. Tarp was a bank robbery. We were bamboozled. I fear with Twitler we're going to get scammed again.

People who don't know history are doomed to repeat it.

Let's see if Republicans fuck us again.

My prediction when they do? You'll still defend them. I already know your excuse. Recessions are cyclical. You'll say it would have happened even on a Democrats watch. Well they didn't on clinton or Obama's watch

The recession of 2001 started a month and a half into the Bush Presidency, the dotcom had burst in 2000. You need to learn history.

Worse than 9-11 were the policies bush passed after 9-11. All the tax breaks then Iraq war. Not good.. Haloburton

You just diverted the issue, you claimed that the recession didn't happen on Clinton's watch, it did and so it must have been his people and policies, following your logic.

No it didn't happen on bushs watch. Faun owns you

What didn't happen on Bush's watch?

Private sector gained jobs.

Needless war of choice was averted.

Republicans put a GSE reform bill on Bush's desk.

Global respect increased.

Rank and file Republicans took credit for electing him twice.

 

[Faun]

The economic recession was due to three straight quarters of economic shrinkage, only the 2nd quarter of 2000 saw growth. Clinton should have been able to turn it around.

Bush turned in around in six months, even with 9/11 thrown in there near the end.

Stop lying. There were not "3 straight quarters of economic shrinkage." First of all, "economic shrinkage" isn't enough to be a recession. It has to be a decline in real GDP, i.e., negative growth.

What you're claiming is ridiculous. If it were merely a shrinkage of GDP, then there would have been recessions declared in 1984, 1989, 2002, 2010, 2012, and 2015; as all were years with 3 consecutive quarters of "shrinkage." And of course, none of those years had recessions.

You have no fucking clue what you're talking about. Even worse, there were not "3 straight quarters of economic shrinkage." in 2000-2001.

2000q1 .... 1.2
2000q2 .... 7.8
2000q3 .... 0.5
2000q4 .... 2.3
2001q1 ... -1.1
2001q2 .... 2.1
2001q3 ... -1.3
2001q4 .... 1.1

https://www.bea.gov/national/xls/gdpchg.xls

He sees the facts through partisan glasses and claims he's above that

More BS! I never claimed that one party or the other caused the recession of 2008, I claimed many factors over decades. The fact neither party wants responsibility doesn't mean I am partisan. The fact you blame on party over the other is partisan.

I ask you right wingers to tell us what role Bush, Delay & Hastert played and all you can come up with is that they want along with Democrats too much. Like I said you are children. Ask you to apologize because you got caught you say sorry but ask you what you are sorry for and you can't verbalize what you did wrong. Because then that would be admitting we are right.

You guys admitted we were right when you didn't nominate Jeb Bush. Trump winning vindicates the American people don't want another Republican in the White House either.

Tell me what deregulations or bills of Tom Delay and Dennis Hastert that Bush signed that you don't like. You know a lot about Freddy Fanny Bill Clinton and Jimmy Carter and Barney Frank but do you know anything about the Bush Delay Hastert era? Why not? Was your head buried in the sand those 6 long agonizing years? Do you want to make light that the 2008 recession probably has more to do with what they did than what Carter or Clinton did.

I posted about this earlier, I didn't just blame Carter, Clinton, Bush, Frank, Delay or Hastert. I said it was the federal government doing and not doing things. If you want to blame and point fingers, I can do that all day and it gets nowhere. To me it was a government failing involving both of the sacred partys. Housing costs skyrocketed and most people knew it would end and when it did there was going to be some losers.

And that's bullshit. Which is par for the course for you since that's all you've been posting -- lilke making up your own definition of a recession being "3 straight quarters of economic shrinkage."

While it's true that Democrats were on the wrong side of the issue, it's also true that Democrats had no power to pass any legislation. That's why the lion's share of the blame falls on Republicans.

 

[sealybobo]

Stop lying. There were not "3 straight quarters of economic shrinkage." First of all, "economic shrinkage" isn't enough to be a recession. It has to be a decline in real GDP, i.e., negative growth.

What you're claiming is ridiculous. If it were merely a shrinkage of GDP, then there would have been recessions declared in 1984, 1989, 2002, 2010, 2012, and 2015; as all were years with 3 consecutive quarters of "shrinkage." And of course, none of those years had recessions.

You have no fucking clue what you're talking about. Even worse, there were not "3 straight quarters of economic shrinkage." in 2000-2001.

2000q1 .... 1.2
2000q2 .... 7.8
2000q3 .... 0.5
2000q4 .... 2.3
2001q1 ... -1.1
2001q2 .... 2.1
2001q3 ... -1.3
2001q4 .... 1.1

https://www.bea.gov/national/xls/gdpchg.xls

He sees the facts through partisan glasses and claims he's above that

More BS! I never claimed that one party or the other caused the recession of 2008, I claimed many factors over decades. The fact neither party wants responsibility doesn't mean I am partisan. The fact you blame on party over the other is partisan.

I ask you right wingers to tell us what role Bush, Delay & Hastert played and all you can come up with is that they want along with Democrats too much. Like I said you are children. Ask you to apologize because you got caught you say sorry but ask you what you are sorry for and you can't verbalize what you did wrong. Because then that would be admitting we are right.

You guys admitted we were right when you didn't nominate Jeb Bush. Trump winning vindicates the American people don't want another Republican in the White House either.

Tell me what deregulations or bills of Tom Delay and Dennis Hastert that Bush signed that you don't like. You know a lot about Freddy Fanny Bill Clinton and Jimmy Carter and Barney Frank but do you know anything about the Bush Delay Hastert era? Why not? Was your head buried in the sand those 6 long agonizing years? Do you want to make light that the 2008 recession probably has more to do with what they did than what Carter or Clinton did.

I posted about this earlier, I didn't just blame Carter, Clinton, Bush, Frank, Delay or Hastert. I said it was the federal government doing and not doing things. If you want to blame and point fingers, I can do that all day and it gets nowhere. To me it was a government failing involving both of the sacred partys. Housing costs skyrocketed and most people knew it would end and when it did there was going to be some losers.

And that's bullshit. Which is par for the course for you since that's all you've been posting -- lilke making up your own definition of a recession being "3 straight quarters of economic shrinkage."

While it's true that Democrats were on the wrong side of the issue, it's also true that Democrats had no power to pass any legislation. That's why the lion's share of the blame falls on Republicans.

 

[Faun]

He sees the facts through partisan glasses and claims he's above that

More BS! I never claimed that one party or the other caused the recession of 2008, I claimed many factors over decades. The fact neither party wants responsibility doesn't mean I am partisan. The fact you blame on party over the other is partisan.

I ask you right wingers to tell us what role Bush, Delay & Hastert played and all you can come up with is that they want along with Democrats too much. Like I said you are children. Ask you to apologize because you got caught you say sorry but ask you what you are sorry for and you can't verbalize what you did wrong. Because then that would be admitting we are right.

You guys admitted we were right when you didn't nominate Jeb Bush. Trump winning vindicates the American people don't want another Republican in the White House either.

Tell me what deregulations or bills of Tom Delay and Dennis Hastert that Bush signed that you don't like. You know a lot about Freddy Fanny Bill Clinton and Jimmy Carter and Barney Frank but do you know anything about the Bush Delay Hastert era? Why not? Was your head buried in the sand those 6 long agonizing years? Do you want to make light that the 2008 recession probably has more to do with what they did than what Carter or Clinton did.

I posted about this earlier, I didn't just blame Carter, Clinton, Bush, Frank, Delay or Hastert. I said it was the federal government doing and not doing things. If you want to blame and point fingers, I can do that all day and it gets nowhere. To me it was a government failing involving both of the sacred partys. Housing costs skyrocketed and most people knew it would end and when it did there was going to be some losers.

And that's bullshit. Which is par for the course for you since that's all you've been posting -- lilke making up your own definition of a recession being "3 straight quarters of economic shrinkage."

While it's true that Democrats were on the wrong side of the issue, it's also true that Democrats had no power to pass any legislation. That's why the lion's share of the blame falls on Republicans.

LOL

That's our Papageorgio

 

[sealybobo]

More BS! I never claimed that one party or the other caused the recession of 2008, I claimed many factors over decades. The fact neither party wants responsibility doesn't mean I am partisan. The fact you blame on party over the other is partisan.

I ask you right wingers to tell us what role Bush, Delay & Hastert played and all you can come up with is that they want along with Democrats too much. Like I said you are children. Ask you to apologize because you got caught you say sorry but ask you what you are sorry for and you can't verbalize what you did wrong. Because then that would be admitting we are right.

You guys admitted we were right when you didn't nominate Jeb Bush. Trump winning vindicates the American people don't want another Republican in the White House either.

Tell me what deregulations or bills of Tom Delay and Dennis Hastert that Bush signed that you don't like. You know a lot about Freddy Fanny Bill Clinton and Jimmy Carter and Barney Frank but do you know anything about the Bush Delay Hastert era? Why not? Was your head buried in the sand those 6 long agonizing years? Do you want to make light that the 2008 recession probably has more to do with what they did than what Carter or Clinton did.

I posted about this earlier, I didn't just blame Carter, Clinton, Bush, Frank, Delay or Hastert. I said it was the federal government doing and not doing things. If you want to blame and point fingers, I can do that all day and it gets nowhere. To me it was a government failing involving both of the sacred partys. Housing costs skyrocketed and most people knew it would end and when it did there was going to be some losers.

And that's bullshit. Which is par for the course for you since that's all you've been posting -- lilke making up your own definition of a recession being "3 straight quarters of economic shrinkage."

While it's true that Democrats were on the wrong side of the issue, it's also true that Democrats had no power to pass any legislation. That's why the lion's share of the blame falls on Republicans.

LOL

That's our Papageorgio

Quit flirting with Papa. These are the kinds of women he likes

 

[Papageorgio]

Who Caused the Economic Crisis? a lot of my take but I realize partisan assholes will not accept the facts.

 

[sealybobo]

Who Caused the Economic Crisis? a lot of my take but I realize partisan assholes will not accept the facts.

Your source doesn't even consider it was all done on purpose. It all seems like it all happened perfectly as planned. They got all the tax breaks and government contracts and all the companies that had unions and pensions went bankrupt right after bush and company changed the bankruptcy laws, and they made it harder for us to claim bankruptcy. Almost as if they knew the housing and banking collapse was coming because they made it happen.

I'm very skeptical of our system. Capitalism is a pozi scheme. Our dollar is worth whatever they say it's worth

 

[sealybobo]

They gave companies going overseas tax breaks. Even bush admitted it. And you dopes believe trump but not when we told you?

Trump says there were no WMDs you vote for him we say it we're idiots

 

[Markle]

The rules were loosened and look at our 2008 recession.

Isn't that what Republicans are all about? Loosening regulations?

Who knew the bush era would send 750,000 jobs a month oversea?. It's why Obama won and ultimately what did Hillary in. Clinton signed NAFTA, remember?

But the mass exodus happened on bushs watch

You just posted before that, that they wouldn't loosen regulations. Which is it?

Loosen, not loosen? Make up your mind.

You're missing the point. To point back to the good old days of the 1990s and blame Clinton for loosening up regulations so that people could more easily get loans is stupid I'm sorry. You would have to ignore all the deviant shady shit that happened from 2000-2008. All the shit bush delay and hastert did. Only a brainwashed Republican would blame Clinton and Freddy and fanny.

Earlier I asked another con who said "both sides are to blame" for the recession and I asked them to tell me what bush did wrong. They wouldn't answer. So in reality "both sides are to blame" is like a child telling you they are sorry but not being able to say what they are sorry for. Tell me in your words what did Republicans do wrong to cause the recession?

The 2008 recession caused by Republicans? Lol! Clinton had as much to do with the Great Recession as Bush, in fact many people and laws had much to do with the Recession, but go ahead and spout your BS without proof.

BS

"Thanks to our policies, home ownership in America is at an all time high." ~ George Bush, 2004 Republican National Convention acceptance speech

Democrats actions leading to Mortgage Collapse B.B.

From New York Times
Fannie Mae Eases Credit To Aid Mortgage Lending
Fannie Mae Eases Credit To Aid Mortgage Lending


From Bloomberg News
How the Democrats Created the Financial Crisis
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0


The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs, ie Fannie, Freddie etc.)
Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs


Timeline shows Bush, McCain warning Democrats of Financial Crisis; Meltdown



The Wall Street Journal Barney’s Rubble
Barney's Rubble


Mashup of Maxine Waters & Barney Frank - Then Vs. Now

Embedded media from this media site is no longer available

The Bet That Blew Up Wall Street
Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis
The Bet That Blew Up Wall Street


Bush Called For Reform 17 Times In 2008 ALONE, here dating back to 2001! Duplicate of Whitehouse.archives Bush Called For Reform 17 Times In 2008 | Sweetness & Light

Utter nonsense...

Your first link was about Clinton putting pressure on the GSE's to extend credit to those who were close to qualifying, but fell short. The GSE's complied but built up their portfolios of AAA-rated PLS, which did not cause the bubble and subsequent crash.

Your second link goes to a non-existent page.

Your third link is about Bush warning the Congress to increase oversight of the GSE's, but the Congress, controlled mostly by Republicans, passed nothing until the 2007 Democrat-led House passed two such bills and in 2008, the Democrat-led Senate passed one of them to get it to Bush's desk.

Your 4th, 5th and 6th links are to 2 videos and one WSJ article about how Barney Frank fought against GSE reform. While it's true he did; it's also true that he did at a time when Republicans controlled both chambers of Congress and he was but one House member of the minority party and helpless to prevent the House from passing GSE reform. Which, by the way, the Republican-led House did pass one such bill in all those years and Bush ripped it up for being ineffective and not addressing the problem.

Your 7th link blames the Republican-led Congress.

Your 8th link is about the same story as your 3rd link.

And again, we have Bush and Republicans taking credit for the boom before blaming Democrats for the bust...

"Thanks to our policies, home ownership in America is at an all time high." ~ George Bush, 2004 Republican National Convention acceptance speech​

Your intentioned ignorance is amusing. Republicans were to blame for not standing up to the Democrats.

LMAO!

Who said Republicans were to blame for not standing up to Demcorats??

Republicans didn't have to stand up to Democrats -- they controlled the Congress. They're to blame for not passing much needed GSE reform. During the 108th and 109th sessions of Congress, they controlled both chambers of Congress and the Executive branch.They controlled every committee and they controlled the floor of the Senate.

They didn't have to stand up to Democrats (and by Democrats, we're talking about Barney Frank, Maxine Waters, and Christopher Dodd) -- all they had to do was pass a fucking bill that Democrats didn't filibuster in the Senate and couldn't block in the House.

NO ONE is blaming Fannie and Freddie. They are an inanimate object. They received directives from the Congressional oversight committees headed by Chris Dodd and Barney Frank. At the time, Barney's lover was on the board of directors of Fannie Mae. The more loans they bought, the bigger his bonus.

Now you're flat out lying. Neither Frank nor Dodd controlled any such committees until 2007. Again ... in 2006, Republicans chaired ALL Congressional committees.

You need to do a bit of research before you start calling names. You obviously do not know much about Washington if you believe or feign belief that someone NOT in the majority, does not wield tremendous power.

I realize that despite the FACTS, you would rather die than admit you are wrong. That's fine.

How the Democrats Created the Financial Crisis: Kevin Hassett

Commentary by Kevin Hassett

Sept. 22 (Bloomberg) -- The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.

Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex.

But really, it isn't. Enough cards on this table have been turned over that the story is now clear. The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.

Fannie and Freddie did this by becoming a key enabler of the mortgage crisis. They fueled Wall Street's efforts to securitize subprime loans by becoming the primary customer of all AAA-rated subprime-mortgage pools. In addition, they held an enormous portfolio of mortgages themselves.

In the times that Fannie and Freddie couldn't make the market, they became the market. Over the years, it added up to an enormous obligation. As of last June, Fannie alone owned or guaranteed more than $388 billion in high-risk mortgage investments. Their large presence created an environment within which even mortgage-backed securities assembled by others could find a ready home.

The problem was that the trillions of dollars in play were only low-risk investments if real estate prices continued to rise. Once they began to fall, the entire house of cards came down with them.

Turning Point

Take away Fannie and Freddie, or regulate them more wisely, and it's hard to imagine how these highly liquid markets would ever have emerged. This whole mess would never have happened.

It is easy to identify the historical turning point that marked the beginning of the end.

Back in 2005, Fannie and Freddie were, after years of dominating Washington, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission's chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie's position on the relevant accounting issue was not even ``on the page'' of allowable interpretations.
Then legislative momentum emerged for an attempt to create a ``world-class regulator'' that would oversee the pair more like banks, imposing strict requirements on their ability to take excessive risks. Politicians who previously had associated themselves proudly with the two accounting miscreants were less eager to be associated with them. The time was ripe.

Greenspan's Warning

The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn't be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie ``continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'' he said. ``We are placing the total financial system of the future at a substantial risk.''

What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

Different World

If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''

Mounds of Materials

Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.

But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.

Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.

There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.)

To contact the writer of this column: Kevin Hassett at [email protected]

How the Democrats Created the Financial Crisis - Club Cobra

 

[sealybobo]

Who Caused the Economic Crisis? a lot of my take but I realize partisan assholes will not accept the facts.

I'm willing to let by gones be by gones and see what happens moving forward. I'll argue who caused the recession but I'm more interested in the future. Parties change. Democrats used to be the klan party. Maybe the Republicans value the middle class now. Maybe they won't neglect the middle class again. Maybe Paul Ryan way is the right way. I don't believe it is but I lost SSO time to give your way a go.

Just like you busted our balls we will bust yours. Don't sensor the media Twitler

 

[Markle]

How is the middle class going to do better if the GOP does this?

With all eyes on Trump, Republicans are planning to break unions for good | Michael Paarlberg

Hopefully, they will start with doing away with all public unions including and specifically the teachers unions which would help solve two problems.

 

[sealybobo]

How is the middle class going to do better if the GOP does this?

With all eyes on Trump, Republicans are planning to break unions for good | Michael Paarlberg

Hopefully, they will start with doing away with all public unions including and specifically the teachers unions which would help solve two problems.

I hope they do. Americans don't deserve all the things us liberals got them.

 

[Faun]

Isn't that what Republicans are all about? Loosening regulations?

Who knew the bush era would send 750,000 jobs a month oversea?. It's why Obama won and ultimately what did Hillary in. Clinton signed NAFTA, remember?

But the mass exodus happened on bushs watch

You just posted before that, that they wouldn't loosen regulations. Which is it?

Loosen, not loosen? Make up your mind.

You're missing the point. To point back to the good old days of the 1990s and blame Clinton for loosening up regulations so that people could more easily get loans is stupid I'm sorry. You would have to ignore all the deviant shady shit that happened from 2000-2008. All the shit bush delay and hastert did. Only a brainwashed Republican would blame Clinton and Freddy and fanny.

Earlier I asked another con who said "both sides are to blame" for the recession and I asked them to tell me what bush did wrong. They wouldn't answer. So in reality "both sides are to blame" is like a child telling you they are sorry but not being able to say what they are sorry for. Tell me in your words what did Republicans do wrong to cause the recession?

BS

"Thanks to our policies, home ownership in America is at an all time high." ~ George Bush, 2004 Republican National Convention acceptance speech

Democrats actions leading to Mortgage Collapse B.B.

From New York Times
Fannie Mae Eases Credit To Aid Mortgage Lending
Fannie Mae Eases Credit To Aid Mortgage Lending


From Bloomberg News
How the Democrats Created the Financial Crisis
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0


The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs, ie Fannie, Freddie etc.)
Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs


Timeline shows Bush, McCain warning Democrats of Financial Crisis; Meltdown



The Wall Street Journal Barney’s Rubble
Barney's Rubble


Mashup of Maxine Waters & Barney Frank - Then Vs. Now

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The Bet That Blew Up Wall Street
Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis
The Bet That Blew Up Wall Street


Bush Called For Reform 17 Times In 2008 ALONE, here dating back to 2001! Duplicate of Whitehouse.archives Bush Called For Reform 17 Times In 2008 | Sweetness & Light

Utter nonsense...

Your first link was about Clinton putting pressure on the GSE's to extend credit to those who were close to qualifying, but fell short. The GSE's complied but built up their portfolios of AAA-rated PLS, which did not cause the bubble and subsequent crash.

Your second link goes to a non-existent page.

Your third link is about Bush warning the Congress to increase oversight of the GSE's, but the Congress, controlled mostly by Republicans, passed nothing until the 2007 Democrat-led House passed two such bills and in 2008, the Democrat-led Senate passed one of them to get it to Bush's desk.

Your 4th, 5th and 6th links are to 2 videos and one WSJ article about how Barney Frank fought against GSE reform. While it's true he did; it's also true that he did at a time when Republicans controlled both chambers of Congress and he was but one House member of the minority party and helpless to prevent the House from passing GSE reform. Which, by the way, the Republican-led House did pass one such bill in all those years and Bush ripped it up for being ineffective and not addressing the problem.

Your 7th link blames the Republican-led Congress.

Your 8th link is about the same story as your 3rd link.

And again, we have Bush and Republicans taking credit for the boom before blaming Democrats for the bust...

"Thanks to our policies, home ownership in America is at an all time high." ~ George Bush, 2004 Republican National Convention acceptance speech​

Your intentioned ignorance is amusing. Republicans were to blame for not standing up to the Democrats.

LMAO!

Who said Republicans were to blame for not standing up to Demcorats??

Republicans didn't have to stand up to Democrats -- they controlled the Congress. They're to blame for not passing much needed GSE reform. During the 108th and 109th sessions of Congress, they controlled both chambers of Congress and the Executive branch.They controlled every committee and they controlled the floor of the Senate.

They didn't have to stand up to Democrats (and by Democrats, we're talking about Barney Frank, Maxine Waters, and Christopher Dodd) -- all they had to do was pass a fucking bill that Democrats didn't filibuster in the Senate and couldn't block in the House.

NO ONE is blaming Fannie and Freddie. They are an inanimate object. They received directives from the Congressional oversight committees headed by Chris Dodd and Barney Frank. At the time, Barney's lover was on the board of directors of Fannie Mae. The more loans they bought, the bigger his bonus.

Now you're flat out lying. Neither Frank nor Dodd controlled any such committees until 2007. Again ... in 2006, Republicans chaired ALL Congressional committees.

You need to do a bit of research before you start calling names. You obviously do not know much about Washington if you believe or feign belief that someone NOT in the majority, does not wield tremendous power.

How about this...?

Fuck off.

You didn't just say they "wield tremendous power," as you've changed your tune to now.

You said...

They received directives from the Congressional oversight committees headed by Chris Dodd and Barney Frank.

No, they didn't and you prove you have no fucking clue what you're talking about and your position is as fluid as a glass of water, shifting every time you're called on your bullshit.

Frank and Dodd were not in power. Frank couldn't stop the Republican-led House from passing GSE reform and Dodd could have with a filibuster, but never did.

Republicans dropped the ball. Live with it.

 

[Markle]

Who Caused the Economic Crisis? a lot of my take but I realize partisan assholes will not accept the facts.

I'm willing to let by gones be by gones and see what happens moving forward. I'll argue who caused the recession but I'm more interested in the future. Parties change. Democrats used to be the klan party. Maybe the Republicans value the middle class now. Maybe they won't neglect the middle class again. Maybe Paul Ryan way is the right way. I don't believe it is but I lost SSO time to give your way a go.

Just like you busted our balls we will bust yours. Don't sensor the media Twitler

They gave companies going overseas tax breaks. Even bush admitted it. And you dopes believe trump but not when we told you?

Trump says there were no WMDs you vote for him we say it we're idiots

Your previous inane comments render anything you post, useless.

Please provide us with the quote stating that "they gave companies going overseas tax breaks". I am presuming that you are NOT referring to the drastic reduction in corporate taxes enjoyed by companies moving to a country with more favorable tax rates.

 

[Markle]

How about this...?

Fuck off.

You didn't just say they "wield tremendous power," as you've changed your tune to now.

You said...

They received directives from the Congressional oversight committees headed by Chris Dodd and Barney Frank.

No, they didn't and you prove you have no fucking clue what you're talking about and your position is as fluid as a glass of water, shifting every time you're called on your bullshit.

Frank and Dodd were not in power. Frank couldn't stop the Republican-led House from passing GSE reform and Dodd could have with a filibuster, but never did.

Republicans dropped the ball. Live with it.

 

[sealybobo]

Who Caused the Economic Crisis? a lot of my take but I realize partisan assholes will not accept the facts.

I'm willing to let by gones be by gones and see what happens moving forward. I'll argue who caused the recession but I'm more interested in the future. Parties change. Democrats used to be the klan party. Maybe the Republicans value the middle class now. Maybe they won't neglect the middle class again. Maybe Paul Ryan way is the right way. I don't believe it is but I lost SSO time to give your way a go.

Just like you busted our balls we will bust yours. Don't sensor the media Twitler

They gave companies going overseas tax breaks. Even bush admitted it. And you dopes believe trump but not when we told you?

Trump says there were no WMDs you vote for him we say it we're idiots

Your previous inane comments render anything you post, useless.

Please provide us with the quote stating that "they gave companies going overseas tax breaks". I am presuming that you are NOT referring to the drastic reduction in corporate taxes enjoyed by companies moving to a country with more favorable tax rates.

Why reply when anything I post is useless you pompous ass

 

[ScienceRocks]

He has a big ego!