"I did, twice."
Ah, so you're part of the problem.
The rest of your post reflects your rightardism...
"people knew Obama was going to get elected and cut the deadwood, stopped investing, and hunkered down to wait out his commie plans."
That's utter dementia. Many people were forced to stop investing as lenders went bankrupt and credit markets locked up. That was in 2007 and started before Obama even announced he was running.
"If the republicans hadn't won back the senate in 2010 this country would already been screwed."
That's also rightarded hallucination as GDP flipped back to positive growth in 2009 and job growth began its unprecedented 107 consecutive month streak in 2010,
a full year before Republicans took control of the House.
But I see you're a very obedient and loyal rightard, blaming Democrats for Republican failures and crediting Republicans for Democrat successes. I have no doubt the herd is very proud and appreciative of your efforts.
You wrote.."That was in 2007 and started before Obama even announced he was running."
Evidently you never saw these quotes from Barney Frank.
"When warned about Fannie Mae in (House Financial Services Committee Chairman Barney Frank (D-MA) criticized the President [Bush] warning saying:
"these two entities -- Fannie Mae and Freddie Mac --are not facing any kind of financial crisis....The more people exaggerate these problems, the more pressure there is on these companies,
the less we will see in terms of affordable housing." (New York Times, 9/11/03)
But NOW what does Barney say???
Barney Frank Comes Home to the Facts By Larry Kudlow August 21, 2010
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"
I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "
it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added,
"I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie
So what was a major contributor to the housing bubble that Barney blamed Fannie/Freddie for???
"
it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it.
1995
in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining. Most significant of all,
ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the CRA (Community Reinvestment Act) and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront.
Barack Obama was the attorney representing ACORN in this effort.
With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.
Barack H. Obama, Esq.s Role in the Financial Crisis Buycks-Roberson v. Citibank Fe
A VERY Major factor in the housing crisis was the simple fact Obama, et.al. sued Citibank in 1994. This opened the door to what Barney Frank
stated "
it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it.
Now grossly uninformed people say "yah, but that wasn't the major cause!!"... And I agree!
But it WAS a cause!
FACT:
How Obama Bankrupted Black Homeowners
How Obama Bankrupted Black Homeowners | Investor's Business Daily