Liberals what de regulation did bush do to cause the housing crises?

[Wry Catcher]

The event that created the sub prime mortgage world, but more importantly the mortgage becoming a diravitive was signed into law 11/12/1999. an event that I agreed with, greed took the event and has caused the pain, not Clinton
But to blame W for this is sick

Clinton repeal of Glass-Steagall faulty as seen today
Written on March 17th, 2008 in Government Positions


This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more:


Even as the Fed helped to stabilize the situation over the weekend, the stock market is down again on Monday morning. What is alarming from our standpoint is that CIT, Lehman, and National City Corporation all are down – by 25 to 31 percent as we write this. Liquidity questions surround Lehman after what we learned from Bear Sterns. Even JPMorgan needed help and considerations from the Fed to buy Bear Sterns for a reported $2 a share.

This issue now goes far beyond the mortgage blues of some lenders. There is no way that crazy wild-eyed mortgage brokers with lax standards could cause worldwide problems like this. President Bill Clinton repealed the Glass-Steagall Act which had prevented the coupling of investment banking and lending. To be exact, on November 12, 1999, President Bill Clinton signed into law the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act of 1933. One of the effects of the repeal is it allowed commercial and investment banks to consolidate. Economists have criticized the action.

Of course economists criticized the way in which the Bush administration manufactured money by allowing anybody and everybody the opportunity to buy or refinance homes. Economist Robert Kuttner has criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis.

There is always plenty of blame to go around but always rememeber the guy driving the bus when it went off the cliff is ultimately responsible.

A Republican Congress passed Gramm (R, Texas), Leach (R, Iowa), Bliely (R, Virginia) (GLB,, 1999) repealing part of Glass-Steagall Act (1993) - G-A act was passed and signed by a Democratic Congress and Demoractic President. Glass-Steagall prohibited any one institution from acting as an combination of an investment bank, commercial bank and an insurance company; the passage of GLB included a repeal of conflict of interest prohibitions and provisions of the Bank Holding Company Act of 1956.

Clinton may have been driving the bus when the GLB was passed but Bush knew the mechanics no longer maintained the bus and continue to drive it right off the cliff.

 

[Truthmatters]

The Bill Clinton signed was never fully implimented.

the Bush admin held back the broker laws for nearly the entire time he held office.

 

[Truthmatters]

The right will never accept what really caused this mess.

It was their historically failed ideas of "letting the market deside" our future.

[ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs]YouTube - ‪Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis‬‏[/ame]

Here is your problem, only republican rubes buy this seriously flawed republican excuse for an explanation of the problem.

Its just does not explain what happened.

How does it explain the AAA rated bonds that were sold and rated as such when they contained massive subprime loans which CRA has nothing to do with.

You see if the market had only written sub primes at the level CRA mandated this problem would have NEVER developed.

Hell I dont know why I bother telling you facts anyway.

You never recognise any facts that dont back your preconcieved notions of how the world works.

It people like you who allowed this problem to develop and cheered Bush while it was being done.

You will do the same thing all over again with whatever silly candidate you back.

 

[bigrebnc1775]

The Bill Clinton signed was never fully implimented.

the Bush admin held back the broker laws for nearly the entire time he held office.

Every time you lie I will post this, calling spaming oir what ever repeated lies from you is also spaming

[ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs]YouTube - ‪Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis‬‏[/ame]

 

[bigrebnc1775]

The right will never accept what really caused this mess.

It was their historically failed ideas of "letting the market deside" our future.

[ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs]YouTube - ‪Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis‬‏[/ame]

Here is your problem, only republican rubes buy this seriously flawed republican excuse for an explanation of the problem.

Its just does not explain what happened.

How does it explain the AAA rated bonds that were sold and rated as such when they contained massive subprime loans which CRA has nothing to do with.

You see if the market had only written sub primes at the level CRA mandated this problem would have NEVER developed.

Hell I dont know why I bother telling you facts anyway.

You never recognise any facts that dont back your preconcieved notions of how the world works.

It people like you who allowed this problem to develop and cheered Bush while it was being done.

You will do the same thing all over again with whatever silly candidate you back.

If your deaf get someone to listen to the video and write down what was said by the democrats.

 

[Truthmatters]

Post away fool.

It explains next to nothing about the mess your party created by refusing to impliment the laws our government passed.

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

 

[Jarhead]

The right will never accept what really caused this mess.

It was their historically failed ideas of "letting the market deside" our future.

[ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs]YouTube - ‪Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis‬‏[/ame]

Here is your problem, only republican rubes buy this seriously flawed republican excuse for an explanation of the problem.

Its just does not explain what happened.

How does it explain the AAA rated bonds that were sold and rated as such when they contained massive subprime loans which CRA has nothing to do with.

You see if the market had only written sub primes at the level CRA mandated this problem would have NEVER developed.

Hell I dont know why I bother telling you facts anyway.

You never recognise any facts that dont back your preconcieved notions of how the world works.

It people like you who allowed this problem to develop and cheered Bush while it was being done.

You will do the same thing all over again with whatever silly candidate you back.

how does it excuse the fact that we have these committees so issues can be uncovered to avoid those that want to capitalize on the issues being able to do so?

You see, TM...yes, issues arose...people capitalized on the problem...you are correct...

But as the tape shows.....our elected officials were made aware of the problem before people capitaslized on it.....and could have done something about it before people capitalized on it...

So address the issue at hand....why did they do nothing to stop it?

Better yet...why did they openly blast the messanger who brought it to their attention?

In other words...why did they "bully" the messanger into keeping his mouth shut about it?

 

[bigrebnc1775]

Post away fool.

It explains next to nothing about the mess your party created by refusing to impliment the laws our government passed.

It explains one thing the democrats defend freddie and fannie saying nothing was wrong with them since the government backs freddie and fannie any loses it takes in the government must also take those loses. Now who are theones that freddie and fannie are mostlikely to give loans to?

 

[JRK]

Post away fool.

It explains next to nothing about the mess your party created by refusing to impliment the laws our government passed.

It explains one thing the democrats defend freddie and fannie saying nothing was wrong with them since the government backs freddie and fannie any loses it takes in the government must also take those loses. Now who are theones that freddie and fannie are mostlikely to give loans to?

My question to truthmatters is what laws did we not implement?

 

[Truthmatters]

I posted it you silly git.

GLB act was only partially implimented by the Bush admin SEC.

They implimented the parts that the banks were drooling over for decades.

They didnt impliment the protections in the law to help avoid the mess the banks then created just like the people who wrote the protections into the law feared.

It amounted to a big deregulation of the banks.

The banks rewarded the people of the united states by fucking the entire world ecoomy.

 

[Truthmatters]

Post away fool.

It explains next to nothing about the mess your party created by refusing to impliment the laws our government passed.

It explains one thing the democrats defend freddie and fannie saying nothing was wrong with them since the government backs freddie and fannie any loses it takes in the government must also take those loses. Now who are theones that freddie and fannie are mostlikely to give loans to?

They didnt cause this mess you fool.

Selling the sub prime off as AAA investments caused this mess.

You dont understand enough about this mess to know that, or you jsut refuse to understand reality.

Either way it makes your silly offerings worthless to any real discussion of the issue.

 

[JRK]

The event that created the sub prime mortgage world, but more importantly the mortgage becoming a diravitive was signed into law 11/12/1999. an event that I agreed with, greed took the event and has caused the pain, not Clinton
But to blame W for this is sick

Clinton repeal of Glass-Steagall faulty as seen today
Written on March 17th, 2008 in Government Positions


This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more:


Even as the Fed helped to stabilize the situation over the weekend, the stock market is down again on Monday morning. What is alarming from our standpoint is that CIT, Lehman, and National City Corporation all are down – by 25 to 31 percent as we write this. Liquidity questions surround Lehman after what we learned from Bear Sterns. Even JPMorgan needed help and considerations from the Fed to buy Bear Sterns for a reported $2 a share.

This issue now goes far beyond the mortgage blues of some lenders. There is no way that crazy wild-eyed mortgage brokers with lax standards could cause worldwide problems like this. President Bill Clinton repealed the Glass-Steagall Act which had prevented the coupling of investment banking and lending. To be exact, on November 12, 1999, President Bill Clinton signed into law the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act of 1933. One of the effects of the repeal is it allowed commercial and investment banks to consolidate. Economists have criticized the action.

Of course economists criticized the way in which the Bush administration manufactured money by allowing anybody and everybody the opportunity to buy or refinance homes. Economist Robert Kuttner has criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis.

There is always plenty of blame to go around but always rememeber the guy driving the bus when it went off the cliff is ultimately responsible.

A Republican Congress passed Gramm (R, Texas), Leach (R, Iowa), Bliely (R, Virginia) (GLB,, 1999) repealing part of Glass-Steagall Act (1993) - G-A act was passed and signed by a Democratic Congress and Demoractic President. Glass-Steagall prohibited any one institution from acting as an combination of an investment bank, commercial bank and an insurance company; the passage of GLB included a repeal of conflict of interest prohibitions and provisions of the Bank Holding Company Act of 1956.

Clinton may have been driving the bus when the GLB was passed but Bush knew the mechanics no longer maintained the bus and continue to drive it right off the cliff.

The law was passed with close to a 90% approval in the house and
read it your self
The bill then moved to a joint conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act and address certain privacy concerns; the conference committee then finished its work by the beginning of November.[9][13] On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][15] and by the House 362-57.[16][17] The legislation was signed into law by President Clinton on November 12, 1999.[18]
[edit]
Gramm

good la also
YOU CANNOT LEGISLATE MORALITY

 

[bigrebnc1775]

Post away fool.

It explains next to nothing about the mess your party created by refusing to impliment the laws our government passed.

It explains one thing the democrats defend freddie and fannie saying nothing was wrong with them since the government backs freddie and fannie any loses it takes in the government must also take those loses. Now who are theones that freddie and fannie are mostlikely to give loans to?

They didnt cause this mess you fool.

Selling the sub prime off as AAA investments caused this mess.

You dont understand enough about this mess to know that, or you jsut refuse to understand reality.

Either way it makes your silly offerings worthless to any real discussion of the issue.

The only fool here is you your fucked up party with it's political greed to remain in power fucked every tax payer. Freddie and fannie fell and brought the world with them. Shame on you and anyone that supports them

 

[Wry Catcher]

The event that created the sub prime mortgage world, but more importantly the mortgage becoming a diravitive was signed into law 11/12/1999. an event that I agreed with, greed took the event and has caused the pain, not Clinton
But to blame W for this is sick

Clinton repeal of Glass-Steagall faulty as seen today
Written on March 17th, 2008 in Government Positions


This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more:


Even as the Fed helped to stabilize the situation over the weekend, the stock market is down again on Monday morning. What is alarming from our standpoint is that CIT, Lehman, and National City Corporation all are down – by 25 to 31 percent as we write this. Liquidity questions surround Lehman after what we learned from Bear Sterns. Even JPMorgan needed help and considerations from the Fed to buy Bear Sterns for a reported $2 a share.

This issue now goes far beyond the mortgage blues of some lenders. There is no way that crazy wild-eyed mortgage brokers with lax standards could cause worldwide problems like this. President Bill Clinton repealed the Glass-Steagall Act which had prevented the coupling of investment banking and lending. To be exact, on November 12, 1999, President Bill Clinton signed into law the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act of 1933. One of the effects of the repeal is it allowed commercial and investment banks to consolidate. Economists have criticized the action.

Of course economists criticized the way in which the Bush administration manufactured money by allowing anybody and everybody the opportunity to buy or refinance homes. Economist Robert Kuttner has criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis.

There is always plenty of blame to go around but always rememeber the guy driving the bus when it went off the cliff is ultimately responsible.

A Republican Congress passed Gramm (R, Texas), Leach (R, Iowa), Bliely (R, Virginia) (GLB,, 1999) repealing part of Glass-Steagall Act (1993) - G-A act was passed and signed by a Democratic Congress and Demoractic President. Glass-Steagall prohibited any one institution from acting as an combination of an investment bank, commercial bank and an insurance company; the passage of GLB included a repeal of conflict of interest prohibitions and provisions of the Bank Holding Company Act of 1956.

Clinton may have been driving the bus when the GLB was passed but Bush knew the mechanics no longer maintained the bus and continue to drive it right off the cliff.

The law was passed with close to a 90% approval in the house and
read it your self
The bill then moved to a joint conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act and address certain privacy concerns; the conference committee then finished its work by the beginning of November.[9][13] On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][15] and by the House 362-57.[16][17] The legislation was signed into law by President Clinton on November 12, 1999.[18]
[edit]
Gramm

good la also
YOU CANNOT LEGISLATE MORALITY

You cannot blame one person or one party, but, as Harry T. said the buck stops in the oval office. Once a president takes the oath of office, everything that happens, happens on his watch (I wonder if all the wannabee candidates for POTUS in 2012 really understand this?).

One can make a moral judgements on an individual's behavior, and select groups attempt to make laws to control that behavior all the time: Prop 8 in CA; outlawing abortion; allowing the production and sale of tobacco and prostitution are examples of moral judgments.

Of course making laws doesn't change the behavior of all, even the most ardent libertarian understands the need for rules under some circumstances. Ethical and moral relativism is reality, human nature being as it is. Those who hold to a strict code of moral behavior have either defined acts as moral or not for themselves or accepted the authority of somone else, making moral judgments subjective.

Was attempting to make home ownership for all a moral judgment? Did the failure of the policy mean those who supported the initial policy were morally corrupt? Are those who manipulated the original goal for profit morally corrupt, or is that simply business, and business ethics differ from other forms of behavioral codes?

 

[JRK]

There is always plenty of blame to go around but always rememeber the guy driving the bus when it went off the cliff is ultimately responsible.

A Republican Congress passed Gramm (R, Texas), Leach (R, Iowa), Bliely (R, Virginia) (GLB,, 1999) repealing part of Glass-Steagall Act (1993) - G-A act was passed and signed by a Democratic Congress and Demoractic President. Glass-Steagall prohibited any one institution from acting as an combination of an investment bank, commercial bank and an insurance company; the passage of GLB included a repeal of conflict of interest prohibitions and provisions of the Bank Holding Company Act of 1956.

Clinton may have been driving the bus when the GLB was passed but Bush knew the mechanics no longer maintained the bus and continue to drive it right off the cliff.

The law was passed with close to a 90% approval in the house and
read it your self
The bill then moved to a joint conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act and address certain privacy concerns; the conference committee then finished its work by the beginning of November.[9][13] On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][15] and by the House 362-57.[16][17] The legislation was signed into law by President Clinton on November 12, 1999.[18]
[edit]
Gramm

good la also
YOU CANNOT LEGISLATE MORALITY

You cannot blame one person or one party, but, as Harry T. said the buck stops in the oval office. Once a president takes the oath of office, everything that happens, happens on his watch (I wonder if all the wannabee candidates for POTUS in 2012 really understand this?).

One can make a moral judgements on an individual's behavior, and select groups attempt to make laws to control that behavior all the time: Prop 8 in CA; outlawing abortion; allowing the production and sale of tobacco and prostitution are examples of moral judgments.

Of course making laws doesn't change the behavior of all, even the most ardent libertarian understands the need for rules under some circumstances. Ethical and moral relativism is reality, human nature being as it is. Those who hold to a strict code of moral behavior have either defined acts as moral or not for themselves or accepted the authority of somone else, making moral judgments subjective.

Was attempting to make home ownership for all a moral judgment? Did the failure of the policy mean those who supported the initial policy were morally corrupt? Are those who manipulated the original goal for profit morally corrupt, or is that simply business, and business ethics differ from other forms of behavioral codes?

At the end of the day people caused these issues, not laws most of the time
Obama is the exception

He said he was going to transform us, and he is right

 

[signelect]

Bush wasn't a legislative "de-regulator", he was one that gutted the agencies that oversaw regulation. Additionally he appointed people to head these agencies that either had no idea what they were doing, or looked the other way while some very serious calamities were in the works.

And your boy appointed a tax cheat to be Treasury secretary. While we are on that subject most of his appointee are questionable in ability and morals. Stupid and people without character are not lib/dem issues they are people issues. Obama is lacking all around. I hope for change.

Go green Recycle Obama in 2012

 

[JRK]

Bush wasn't a legislative "de-regulator", he was one that gutted the agencies that oversaw regulation. Additionally he appointed people to head these agencies that either had no idea what they were doing, or looked the other way while some very serious calamities were in the works.

And your boy appointed a tax cheat to be Treasury secretary. While we are on that subject most of his appointee are questionable in ability and morals. Stupid and people without character are not lib/dem issues they are people issues. Obama is lacking all around. I hope for change.

Go green Recycle Obama in 2012

Gutted the agencies?
looked the other way?
what is this guy talking about?
how did we get here?

 

[signelect]

As much as I can't stand Obama and his total lack of leadership and for those of you needing a link he left for vacation without a plan for jobs which seems to be pretty important to a lot of Americans.

In the end we the voters are at fault. We have elected a bunch of greedy idiots in Washington and we need to replace everyone inside the belt way with new blood and term limits.

 

[Soggy in NOLA]

The housing bubble was caused by easy credit which was caused by Wall Street snapping up every mortgage it could get its hands on to package and sell. The public was convinced that property values could only go up, just like the public was convinced in 99, 00 that stock prices could only go up.

Those of us with common sense and some knowledge were not convinced of any such thing on either occasion.