President Bush takes unprecedented action in the financial crisis!

Discussion in 'Congress' started by oreo, Sep 19, 2008.

  1. oreo
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    oreo Gold Member Supporting Member

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    Here we go, the do nothing congress--lead by Democrats--with Harry Reid democrat senate leader stating yesterday--that "he really didn't know what to do about the insuing financial crisis in this country" threw his hands up?

    Of course, this while the democrats in congress was using Freddie Mac & Fannie Mae as their own personal piggy banks--while looking the other way after warning, after warning, after warning that these two government agencies were in trouble. John McCain is on congressional record for making this warning in 2005-asking to reign them in..

    At any rate President Bush, after meeting with economic advisors & Barnake--has made an unprecidented move to buy up the bad paper of these mortage loans. Stop the short selling on Wall Street for two weeks. Once these properties--gain in value we hope to recover this bailout, along with the loan to AIG.

    Now Barack Obama is up there bashing "lobbyists", who created this mess--along with a more than willing congress. He is the second largest money taker from these two agencies. Two of his campaign managers are responsible for these failing government agencies. They walked away with millions while running Fannie Mae & Freddie Mac into the ground!

    UNBELIEVABLE!
     
    Last edited: Sep 19, 2008
  2. Ravi
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    Ravi Diamond Member

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    So, Bush was a commie all along.

    Interesting.
     
  3. Ravi
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    Ravi Diamond Member

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    btw, cookie, AIG wasn't a loan. We, the people now own the company.
     
  4. busara
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    busara wanasiasa wapumbava

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    and the US is becoming more socialistic under bush than ever before. how many companies did the govt own under FDR? and youre mad at the dems didnt take this step which is close to nationalizing a company? everyone should be pissed about this, unless you work on wallstreet
     
  5. oreo
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    oreo Gold Member Supporting Member

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    It is a loan--we hope to get paid back!
     
  6. oreo
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    oreo Gold Member Supporting Member

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    Hey, haven't you heard, your "messiah" agrees with all this! Notably he had to hear President Bush's plane, BEFORE he announced his own, ha.ha.
     
  7. jschuck12001
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    jschuck12001 Senior Member

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    Bush is shit, he vetoed the new housing bill 2 times because he said he doesnt feel the American people should pay to bailout mortgage companies. The bill was rewritten and passed where the banks are responsible for absorbing the lost equity in homes that have declined in value and there is no way they will be able to do that so the bill is useless and now he turns around and does what the Dem wanted from the start which is create federal funding to help out with our current economic issues. Its all politics, he just waited till it became so bad before he did anything instead of being proactive.
     
  8. HoleInTheVoid
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    HoleInTheVoid Active Member

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    So the democrats can't bail out their patrons.

    Bush does it much to the chagrin of the GOP base and the dems pillory him for doing what they always wanted.
     
  9. Ravi
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    Ravi Diamond Member

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    No, we hope we can eventually sell it for a profit. Who's feeding you your information? I notice that several of your posts are factually wrong.
     
  10. HoleInTheVoid
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    HoleInTheVoid Active Member

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    Charlie Rangel should return the $10 million AIG gave him for his pet building project in Harlem.
     

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