W Bush has the distinct honor of being the only President besides Herbert Hoover who

[Dad2three]

W Bush has the distinct honor of being the only President besides Herbert Hoover who actually lost jobs during his term in office.

It looks like the number of Americans working were highest under W Bush ...

Yes, Ponzi schemes create bubbles. AND?

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Stephanie]

Lets see, who signed NAFTA?

Hummmm

you're haten on the wrong President...now move along

 

[Luddly Neddite]

Unemployment now is about 6%.

B-b-b-ut what about Reagan?

 

[Luddly Neddite]

And, lo-info pubs love to hate Carter but -

 

[NoTeaPartyPleez]

It was not all his fault other than telling the SEC to go take an eight year nap and letting Wall Street run wild.

Agreed, and let's not forget his $1,400,000,000,000 tax cut to "stimulate" the economy in 2001.

What a ******* loser. And the neanderthals who voted for him...twice. Anybody who took office in 2009 was destined to be the whipping boy for Bush and his stupid bunch of idiots who voted for him.

15 Things The GOP Doesn't Want You To Know About Taxes And The Debt | Crooks and Liars

http://www.nytimes.com/2001/01/23/u...osal-cut-taxes-swiftly-introduced-senate.html

 

[Dad2three]

You mean by continuing the policies started by Clinton? I also recall people like Barney Frank and Chris Dodd were heading up comities that were charged with overseeing all of that.

How were Dodd and Frank heading committees when the house and senate were republican? Learn some civics for Christ's sake. By the time the house and senate flipped it was already much, much too late, the seeds of disaster were planted.

The seeds of disaster were planted when clinton signed into law that the banks had to lend loans to people even knowing those same people could not afford the payments. Fault lies with clinton, frank, dodd and fannie mae and freddie mac.

LIE, LIE, LIE AND LIE


The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


Senate Permanent Subcommittee on Investigations, led by Chairman Carl Levin (D-MI) and Ranking Member Tom Coburn (R-OK), titled Wall Street and the Financial Crisis: Anatomy of a Financial Collapse. The “Levin-Coburn Report,” a 639-page document, including 2,849 footnotes unanimously and unambiguously concluded that “the [2008] crisis was not a natural disaster, but the result of high risk, complex financial products; undisclosed conflicts of interest; and the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street.”



... Reading the three parts together, it is clear that all ten commissioners agreed that the collapse of the U.S. housing bubble was the proximate cause of the crisis.
In addition, there was substantial consensus among nine of the commissioners. For these nine—including three of the four Republican appointees—the centerpiece of the consensus was that poor risk management at U.S. financial institutions was a chief contributor to the crisis. For example, all nine agreed that risk management failures at financial institutions led to insufficient capital and a reliance on short-term borrowing.


Toxic bankers, captive regulators: Everything you think about the housing market is wrong - Salon.com



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "


http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pdf


No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)

1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now

MY FAV

AEI'S Peter Wallison (THE 10TH MEMBBER OF SALON LINK ABOVE, LOL) in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture




Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Dad2three]

Lets see, who signed NAFTA?

Hummmm

you're haten on the wrong President...now move along

You mean that thing Reagan gave US the day he announced his run for prez in 1979, from conservative Heritage Foundation that 60% of Dems in Congress voted against (like EVERY 'free trade' agreement)?

WHAT'S THAT GOT TO DO WITH DUBYA'S GREAT RECESSION?

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[guno]

I'm no fan of the Bush family. I hate every ******* one of them but you gotta admit that the blame Bush bullshit is mostly bullshit.

WHY?


David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country

“(Reagan’s deficit policies) allowed George W. Bush to dive into the deep end, bankrupting the nation through two misbegotten and unfinanced wars, a giant expansion of Medicare and a tax-cutting spree for the wealthy that turned K Street lobbyists into the de facto office of national tax policy,” Stockman wrote.


David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country




Economists' statement opposing the Bush tax cuts

The Economists' statement opposing the Bush tax cuts was a statement signed by roughly 450 economists, including ten of the twenty-four American Nobel Prize laureates alive at the time, in February 2003 who urged the U.S. President George W. Bush not to enact the 2003 tax cuts; seeking and sought to gather public support for the position.


According to the statement, the 450 plus economists who signed the statement believe that the 2003 Bush tax cuts will increase inequality and the budget deficit, decreasing the ability of the U.S. government to fund essential services, while failing to produce economic growth


In rebuttal, 250 plus economists who supported the tax plan wrote that the new plan would "create more employment, economic growth, and opportunities for all Americans."

WHICH SIDE WAS CORRECT?




Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse



Q Why would Bush’s regulators let banks lower their lending standards?

A. Federal regulators at the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision work for Bush and he was pushing his “Ownership Society” programs that was a major and successful part of his re election campaign in 2004. And Bush’s regulators not only let banks do this, they attacked state regulators trying to do their jobs. Bush’s documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank’s capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING


But the biggest policy was regulators not enforcing lending standards.


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

Over 3000 Americans murdered after Bush ignored CIA warnings.

First time in history that a US President didn't fund war. 2 of them to be exact. 1 of them on false pretenses.

Medicare Part D: Unfunded

Two Tax Cuts: Unfunded

Deregulation that led to the largest Financial Crisis since the Great Depression. Over 19 trillion dollars in household wealth lost during the Financial and Housing Crisis of the Bush Presidency.

But they defend him! why? because he is a bible thumping white trash turd just like them.

 

[Dad2three]

You mean by continuing the policies started by Clinton? I also recall people like Barney Frank and Chris Dodd were heading up comities that were charged with overseeing all of that.

How were Dodd and Frank heading committees when the house and senate were republican? Learn some civics for Christ's sake. By the time the house and senate flipped it was already much, much too late, the seeds of disaster were planted.

The seeds of disaster were planted when clinton signed into law that the banks had to lend loans to people even knowing those same people could not afford the payments. Fault lies with clinton, frank, dodd and fannie mae and freddie mac.

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations.



The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes

Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”

 

[NoTeaPartyPleez]

It is just my opinion, and strictly my opinion, that by 2007 Bush had made such a mess of things that there was no way the Republicans wanted to be positioned to take over the White House in 2009 just to have to try to clean up the mess. It was like turning a battleship around in a bathtub.

And given that Harry Reid was the one person who most influenced Obama's decision to run, I think Reid was in bed with the GOP and in turn influenced the Dems that the best possible course was to take an outsider and make him the human pinata for the debacle that they ALL knew was coming. I mean, come on, I knew in 2004 that this country was careening towards economic chaos. I just couldn't have told you exactly when.

 

[Luddly Neddite]

And then there's his lies about Iraq

The Lies We Believed (And Still Believe) About Iraq | Blog | BillMoyers.com

 

[NoTeaPartyPleez]

Lets see, who signed NAFTA?

Hummmm

you're haten on the wrong President...now move along

That was in 1993, back when you were applying for SS.

 

[Luddly Neddite]

 

[Luddly Neddite]

Lets see, who signed NAFTA?

Hummmm

you're haten on the wrong President...now move along

That was in 1993, back when you were applying for SS.

Actually, our own little Stephanie has said she's gotten govt assistance ever since her family first got govt issue cheese back when she was a child. She also says she doesn't understand what she gets.

 

[Luddly Neddite]

Yo - Steph - You might want to think about this.

 

[Jughead]

W Bush has the distinct honor of being the only President besides Herbert Hoover who actually lost jobs during his term in office.

It looks like the number of Americans working were highest under W Bush ...

Yes, Ponzi schemes create bubbles. AND?

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

Some food for thought ...

- Under Obama the number of working-age Americans not in the labor force is at all-time highs.

- Under Obama the workplace participation rate of men is the lowest in history.

- Under Obama the workforce participation rate of women is the lowest on record.

- Under Obama the workforce participation rate for black Americans is at the lowest level ever recorded.

- Over 800,000 people dropped out of the workforce last month. That's almost one million Americans who have given up…in a month.

Because millions of the unemployed have given up looking for work, the unemployment rate has dropped to 6.3%. Obama calls that's good news. Heck at this rate the whole nation might give up looking for a job by the time Obama leaves office…and he'll report we have reached full employment.

Is Obama a jinx upon America? | Fox News

 

[Luddly Neddite]

Oh that's funny.

The GOP does everything they can to bankrupt the US and to ruin us in the eyes of the world but of course, its Obama's fault.

Do a little traveling and you'll find that the people of the world hae great respect for our president and, just like the rest of us, are glad that bush is long gone.

 

[Luddly Neddite]

It is just my opinion, and strictly my opinion, that by 2007 Bush had made such a mess of things that there was no way the Republicans wanted to be positioned to take over the White House in 2009 just to have to try to clean up the mess. It was like turning a battleship around in a bathtub.

And given that Harry Reid was the one person who most influenced Obama's decision to run, I think Reid was in bed with the GOP and in turn influenced the Dems that the best possible course was to take an outsider and make him the human pinata for the debacle that they ALL knew was coming. I mean, come on, I knew in 2004 that this country was careening towards economic chaos. I just couldn't have told you exactly when.

And that's pretty much what a Repub administration would be now.

We need to continue the recovery and if we can get rid of the R obstruction, we can accomplish that much faster.

Obama has managed to do quite a lot but he's had to fight every inch of the way.

 

[Dad2three]

It looks like the number of Americans working were highest under W Bush ...

Yes, Ponzi schemes create bubbles. AND?

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

Some food for thought ...

- Under Obama the number of working-age Americans not in the labor force is at all-time highs.

- Under Obama the workplace participation rate of men is the lowest in history.

- Under Obama the workforce participation rate of women is the lowest on record.

- Under Obama the workforce participation rate for black Americans is at the lowest level ever recorded.

- Over 800,000 people dropped out of the workforce last month. That's almost one million Americans who have given up…in a month.

Because millions of the unemployed have given up looking for work, the unemployment rate has dropped to 6.3%. Obama calls that's good news. Heck at this rate the whole nation might give up looking for a job by the time Obama leaves office…and he'll report we have reached full employment.

Is Obama a jinx upon America? | Fox News

Yes, LIKE Harding/Cooldige did, the GOP under Dubya dug a DEEP AND WIDE HOLE. And?

DUBYA: 673,000+ PRIVATE sector job losses in 8 years

Obama: 10+ million PRIVATE sector jobs since hitting the Bush bottom March 2010 (same month as Obamacares passes)


Bureau of Labor Statistics Data

 

[pinqy]

It looks like the number of Americans working were highest under W Bush ...

Yes, Ponzi schemes create bubbles. AND?

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

Some food for thought ...

- Under Obama the number of working-age Americans not in the labor force is at all-time highs.

- Under Obama the workplace participation rate of men is the lowest in history.

- Under Obama the workforce participation rate of women is the lowest on record.

- Under Obama the workforce participation rate for black Americans is at the lowest level ever recorded.

- Over 800,000 people dropped out of the workforce last month. That's almost one million Americans who have given up…in a month.

Because millions of the unemployed have given up looking for work, the unemployment rate has dropped to 6.3%. Obama calls that's good news. Heck at this rate the whole nation might give up looking for a job by the time Obama leaves office…and he'll report we have reached full employment.

Is Obama a jinx upon America? | Fox News

I like how the author uses the words "workplace" and "workforce" when he really means "labor force." And then he goes on to falsely characterize everyone leaving the labor force as "giving up." Retirees, people who quit working or looking for work to go to school, people who become unable to work (temporarily or permanently), people who need to look after kids or parents, etc all leave the labor force.