dudmuck
Diamond Member
Your just making stuff up now.subprime mortgage meltdown was caused by the mortgage-backed securities sold by hedge funds and banks. Derivatives (such as credit default swap) spread mortgage mess to the rest of economy.Retail sales drop most in a decade.
Banks detect hints of recession coming.
When Obama came in, the mortgage meltdown effects were reaching full steam. Obama had the task of recovering from this mess caused by neo-liberals.
You are really confused Moon Bat.
Under Bush the economy was doing fine for six years until that despicable 2006 elected Democrat Congress took over with Barney Queerboy, Tits Pelosi, Dirty Harry and that worthless piece of shit from Illinois that later you Moon Bat idiots elected President. Then everything went to hell and Obama had eight years to fix it and he didn't do jackshit.
Obama had eight years of a terrible economy and now Trump is undoing the damage caused by his incompetent "hope and change". What the hell were you morons doing electing a worthless affirmative action nobody "community organizer"?
You need to get down on your knees and beg forgiveness,
You apparently are on Fantasy Island. The reason for the recession was the bad mortgages. That was a bipartisan scandal. Republicans and Democrats pushed people into buying houses even if they couldn't afford them. Fannie and Freddie bought politicians from both parties to prevent meaningful regulation. The economy started improving under Obama and has continued under Trump. Neither are responsible for it.
Beg for forgiveness? You are wacko.
Sorry Moon Bat but you are confused.
The mortgage problem was created by the dumbass Democrats with a stupid idea that the government should use its influence to put pressure on lenders to give credit to people that had neither the means nor the inclination to pay back the money back. You know, for social justice reasons. What could possibly go wrong? That was what the Democrat created Community Reinvestment Act was all about and it was a disaster for this country.
Then on top of that, in 2007, you idiot Moon Bats elected corrupt Democrat shitheads like Barney Queerboy to be in charge of the Congress oversight committees that were suppose to stop the process from spiraling out of control. The Democrats in Congress with their usual incompetency fucked it up.
No Moon Bat, you are really confused about this. The Bush economy did well for six years despite a trillion dollar hit because of 911. You can thank his tax cuts for that. Tax cuts that even the Democrats extended. Then the CRA chickens came home to roost and that, combined with inept Democrat leadership in Congress was why we had that economic disaster.
Then, on top of that, you morons elected a worthless affirmative action dumbass for President who gave us eight years of increased poverty, decreased family income, soaring debt, dismal economic growth and a foreign policy that was weak and ass kissing to the Russians, Communists and Iranian Mullahs. What the hell were you idiots thinking? You really fucked up this country and thank god that Trump is undoing much of the damage .
Perhaps you refer to Community Reinvestment Act?
A federal reserve chair Shelia Bair said in 2008: "Let me ask you: where in the CRA does it say: make loans to people who can't afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth ... pure and simple."
You are confused Moon Bat. The filthy ass Democrat sponsored CRA put pressure on the lending insinuates to give credit to people who would not normally qualify. What could possibly go wrong except the lending institutes were saddled with enormous risk and those chickens came home to roost in 2007? In the background was always the inference that if something did go wrong then the stupid government would bail out the institutions, which is exactly what happen, only with our tax payer money.
Just another stupid Liberal program designed for social justice purposes that backfired big time. Who would have thunk it?
Liberals in general and Democrats specifically fuck up everything they touch. That is why we hold them in such disdain. They are the scum of America.
What is really pathetic is that you stupid Moon Bats learned nothing of the mistake you made by electing that disastrous 2007 Democrat Congress and later that worthless affirmative action piece of shit as President.
You idiots elected a filthy ass Democrat House last year and the damage that they will do this country will be enormous. Lets just hope it is not as bad as that 2006 and 2008 elected House.
Thank god for Trump being elected to undo some of that damage by the worthless asshole Obama. What in the hell were you morons thinking electing some shithead like him? You need to get down on your knees and beg forgiveness from the American people.
Did you miss this?
Let me ask you: where in the CRA does it say: make loans to people who can't afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth ... pure and simple.