58 straight months of jobs growth, ACA working great where allowed to, where is this bad economy?

[Faun]

you're embarrassing yourself

no amount of fast posting can save you Faun

Spits a forum imbecile.



Should I care what an imbecile let you thinks?

you should care for your own sake

you're making a fool of yourself

Nah, I don't care what idiots think of me.

 

[Hutch Starskey]

can anybody help a left-wing nutjob face reality????

i doubt it.

under obama the richest got richer, the poorest got poorer, even obama admits it.

it's sad you think beinga smug, hate-filled left-wing hypocrite will make your intellectual dishonesty appproach the truth

Wonderful. Now what is your Repub majority doing to relieve that situation?

Seriously, Hutch? The GOP controls the House...the Democrats control the Senate and the Oval Office. The House GOP members passed legislation that then sat on Harry Reid's desk while he refused to even let it come to the Senate floor for discussion let alone a vote. Then you've got a President who refuses to admit that he's lost his mandate and now rules by Executive Mandate. What pray tell do you think the GOP could do?

The GOP has the House and Senate there Shirley. Harry Reid is nowhere to be seen.I expect them to do their job. What have they put forth with their majority?
Nothing. Not even an attempt.

 

[healthmyths]

FRB Did the Community Reinvestment Act CRA contribute to foreclosures and the financial crisis And is the CRA being reformed



this is the actual web address of YOUR SOURCE
as you can see it's a .GOV WEBSITE

not a bunch of random economists that wrote it

ur a joke dude

This is what this report states about the "Federal Reserve" so why then are they believable???

THE FINANCIAL CRISIS INQUIRY REPORT
The Experts that made up this Inquiry...

Page xvii Where Federal Reserve is an example... So again how can anyone believe this link:
FRB Did the Community Reinvestment Act CRA contribute to foreclosures and the financial crisis And is the CRA being reformed

The prime example is the Federal Reserve’s pivotal failure to stem the flow of toxic mortgages, which it could have done by setting prudent mortgage-lending standards.
The Federal Reserve was the one entity empowered to do so and it did not.
The record of our examination is replete with evidence of other failures: financial institutions made, bought, and sold mortgage securities they never examined, did not care to examine, or knew to be defective; firms depended on tens of billions of dollars of borrowing that had to be renewed each and every night, secured by subprime mortgage securities; and major firms and investors blindly relied on credit rating agencies as their arbiters of risk.

What else could one expect on a highway where there were neither speed limits nor neatly painted lines?

http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf

The Federal Reserve was not the sole reason, nor was CRA, Nor was ACORN, or Obama... BUT collectively the total laxness of
common sense that if the borrower didn't have enough money to pay the loan .... DON"T MAKE THE LOAN... even if the
Federal government is backing it! Just as this statement gave lenders security...
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing.
That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

 

[Faun]

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's 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."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News

Holyfuck.

You didn't even know a bill on GSE reform was about GSE reform. Now you look like a total dumbshit blaming a member of the minority party in the House and another in the Senate when Frank could do nothing to prevent the House from passing GSE reform and Dodd could only filibuster such a bill to prevent it -- but didn't.

you look like an even bigger idiot crying that Frank couldnt do anything when it doesnt matter; he's on record saying nothing needed to be done

all you do is make a fool of yourself faun

What an imbecile you are. You must think Barney Frank is Superman, capable of forcing the opposition to bow down to do his bidding?

Ok, cite the House bill(s) he prevented from passing......

once more dummy


STRAW MAN
he is on record saying nothing needed to be done

try again

Again, so what? He still did nothing to prevent the majority party Republicans from passing any bills.

 

[Oldstyle]

you continue to embarrass yourself. when you say "hurricane bush" you ought to be adult enough, at a very minimum; be able to show folks what of the so-called destructive policies of Bush that your own jackass party actually opposed, instead of VOTING FOR REPEATEDLY, and continuing the vast majority of them long after Bush was gone

Anyone with a brain, which excludes you, knows I'm talking about the Great Recession Bush handed Obama. And while Bush alone was not the cause, he had help from his Republican Congress, the hurricane is named after him since he was leading the country.

Still waiting for an answer .... how many times did you vote for Bush?

I VOTED TWICE for Bush.
AGAIN NONE of you seem to recognize that 4 major events occurred that have never occurred during any other president's terms.
More importantly this crap about housing bubble???
AGAIN FACTS FACTS FACTS!!!

Obama...
1) 1995 ACORN/with Obama sued CitiBank forcing them to make loans to people THAT would default on their properties!
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!
2) Banks were forced by FDIC to SELL these TOXIC loans to Fannie/Freddie.. and because in their own words

Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's 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."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News


3) AND YOU HAVE NO idea of what happened on 9/18/2008...

The near economic collapse on Thursday (Sept 18,2008), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed.
It would have been the end of our economic system and our political system as we know it.

Zero Hedge How The World Almost Came To An End At 2PM On September 18


Now as far as TARP...

Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010[update]. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[4]

Now.. WHAT HAPPENED to TARP the program that Bush has been blamed for?
Bailout Scorecard Eye on the Bailout ProPublica
$615 billion went out
$672 Billion came in...

ALL PAID BACK...
PLUS A PROFIT of: $57.7 billion...

I can't believe there are still idiots blaming Barney Frank for the real estate bubble collapse. He was one member of the minority party and you think he brought the whole system down. Republicans controlled the house. Republicans controlled the Senate. Republicans controlled the executive branch. Republicans get the blame, not a member of the minority party. I can't believe you're still in blaine barney frank for the real estate bubble collapse. I'm not saying Barney Frank was right. He wasn't. But he was just one member of the minor party and you think he brought a whole system down.

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

 

[Faun]

FRB Did the Community Reinvestment Act CRA contribute to foreclosures and the financial crisis And is the CRA being reformed



this is the actual web address of YOUR SOURCE
as you can see it's a .GOV WEBSITE

not a bunch of random economists that wrote it

ur a joke dude

This is what this report states about the "Federal Reserve" so why then are they believable???

THE FINANCIAL CRISIS INQUIRY REPORT
The Experts that made up this Inquiry...

View attachment 47186
Page xvii Where Federal Reserve is an example... So again how can anyone believe this link:
FRB Did the Community Reinvestment Act CRA contribute to foreclosures and the financial crisis And is the CRA being reformed

The prime example is the Federal Reserve’s pivotal failure to stem the flow of toxic mortgages, which it could have done by setting prudent mortgage-lending standards.
The Federal Reserve was the one entity empowered to do so and it did not.
The record of our examination is replete with evidence of other failures: financial institutions made, bought, and sold mortgage securities they never examined, did not care to examine, or knew to be defective; firms depended on tens of billions of dollars of borrowing that had to be renewed each and every night, secured by subprime mortgage securities; and major firms and investors blindly relied on credit rating agencies as their arbiters of risk.

What else could one expect on a highway where there were neither speed limits nor neatly painted lines?

http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf

The Federal Reserve was not the sole reason, nor was CRA, Nor was ACORN, or Obama... BUT collectively the total laxness of
common sense that if the borrower didn't have enough money to pay the loan .... DON"T MAKE THE LOAN... even if the
Federal government is backing it! Just as this statement gave lenders security...
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing.
That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

Putz... those were the board members ... not the economists who wrote the report I cited.

 

[healthmyths]

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's 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."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News

Holyfuck.

You didn't even know a bill on GSE reform was about GSE reform. Now you look like a total dumbshit blaming a member of the minority party in the House and another in the Senate when Frank could do nothing to prevent the House from passing GSE reform and Dodd could only filibuster such a bill to prevent it -- but didn't.

you look like an even bigger idiot crying that Frank couldnt do anything when it doesnt matter; he's on record saying nothing needed to be done

all you do is make a fool of yourself faun

What an imbecile you are. You must think Barney Frank is Superman, capable of forcing the opposition to bow down to do his bidding?

Ok, cite the House bill(s) he prevented from passing......

once more dummy


STRAW MAN
he is on record saying nothing needed to be done

try again

Again, so what? He still did nothing to prevent the majority party Republicans from passing any bills.

Well first of all the first six years of GWB was dealing with THESE ISSUES dummy!!!
And as far as the LAST two years of GWB...
Both Senate and house were under Pelosi/Reid... Democrat control.

Recession
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!

Source: USATODAY.com - It s official 2001 recession only lasted eight months

A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs

The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.

4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

 

[Faun]

Anyone with a brain, which excludes you, knows I'm talking about the Great Recession Bush handed Obama. And while Bush alone was not the cause, he had help from his Republican Congress, the hurricane is named after him since he was leading the country.

Still waiting for an answer .... how many times did you vote for Bush?

I VOTED TWICE for Bush.
AGAIN NONE of you seem to recognize that 4 major events occurred that have never occurred during any other president's terms.
More importantly this crap about housing bubble???
AGAIN FACTS FACTS FACTS!!!

Obama...
1) 1995 ACORN/with Obama sued CitiBank forcing them to make loans to people THAT would default on their properties!
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!
2) Banks were forced by FDIC to SELL these TOXIC loans to Fannie/Freddie.. and because in their own words

Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's 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."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News


3) AND YOU HAVE NO idea of what happened on 9/18/2008...

The near economic collapse on Thursday (Sept 18,2008), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed.
It would have been the end of our economic system and our political system as we know it.

Zero Hedge How The World Almost Came To An End At 2PM On September 18


Now as far as TARP...

Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010[update]. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[4]

Now.. WHAT HAPPENED to TARP the program that Bush has been blamed for?
Bailout Scorecard Eye on the Bailout ProPublica
$615 billion went out
$672 Billion came in...

ALL PAID BACK...
PLUS A PROFIT of: $57.7 billion...

I can't believe there are still idiots blaming Barney Frank for the real estate bubble collapse. He was one member of the minority party and you think he brought the whole system down. Republicans controlled the house. Republicans controlled the Senate. Republicans controlled the executive branch. Republicans get the blame, not a member of the minority party. I can't believe you're still in blaine barney frank for the real estate bubble collapse. I'm not saying Barney Frank was right. He wasn't. But he was just one member of the minor party and you think he brought a whole system down.

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

Oy vey. "That point" was 2003-2006. That's when those bills I cited were squashed by Republican leadership. Republicans controlled both chambers of congress at that time.

 

[healthmyths]

Now the point I'm making with the above was simple!
With all these events going on major earth shaking events... where would there have been time to concentrate on the
housing bubble? After all when Bush wanted to do something he was rebuffed!
By ERIC DASH Published: August 11, 2007
"Even President Bush weighed in. On Thursday, he said that both Fannie Mae and Freddie Mac needed to complete a “robust reform package” before they expanded their mortgage portfolios.
The statement drew fire from many Democratic lawmakers on Capitol Hill.
Christopher J. Dodd, the chairman of the Senate Banking Committee, called upon President Bush to “immediately reconsider his ill-advised” position as problems in the housing market worsen.
In an interview yesterday, Barney Frank, the chairman of the House Financial Services Committee, said that the president’s comments were “inane.”“Tell the Republicans to stop blocking the bill,” Mr. Frank said. If the president “is saying that ‘I don’t want to support any increase until we pass the reforms,’ then you pass the bill and the bill takes care of that.”

Mr. Frank, like many Democrats, argued that increasing Fannie Mae’s mortgage portfolio was important because the government-sponsored enterprises could provide both liquidity to the market and were more willing to work out problem loans.
http://www.nytimes.com/2007/08/11/business/11fannie.html?_r=0

 

[healthmyths]

I VOTED TWICE for Bush.
AGAIN NONE of you seem to recognize that 4 major events occurred that have never occurred during any other president's terms.
More importantly this crap about housing bubble???
AGAIN FACTS FACTS FACTS!!!

Obama...
1) 1995 ACORN/with Obama sued CitiBank forcing them to make loans to people THAT would default on their properties!
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!
2) Banks were forced by FDIC to SELL these TOXIC loans to Fannie/Freddie.. and because in their own words

Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's 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."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News


3) AND YOU HAVE NO idea of what happened on 9/18/2008...

The near economic collapse on Thursday (Sept 18,2008), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed.
It would have been the end of our economic system and our political system as we know it.

Zero Hedge How The World Almost Came To An End At 2PM On September 18


Now as far as TARP...

Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010[update]. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[4]

Now.. WHAT HAPPENED to TARP the program that Bush has been blamed for?
Bailout Scorecard Eye on the Bailout ProPublica
$615 billion went out
$672 Billion came in...

ALL PAID BACK...
PLUS A PROFIT of: $57.7 billion...

I can't believe there are still idiots blaming Barney Frank for the real estate bubble collapse. He was one member of the minority party and you think he brought the whole system down. Republicans controlled the house. Republicans controlled the Senate. Republicans controlled the executive branch. Republicans get the blame, not a member of the minority party. I can't believe you're still in blaine barney frank for the real estate bubble collapse. I'm not saying Barney Frank was right. He wasn't. But he was just one member of the minor party and you think he brought a whole system down.

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

Oy vey. "That point" was 2003-2006. That's when those bills I cited were squashed by Republican leadership. Republicans controlled both chambers of congress at that time.

You are right! They were "squashed" because during that time what else was happening?????
Recession
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!

Source: USATODAY.com - It s official 2001 recession only lasted eight months

A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs

The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.

4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that!

 

[Oldstyle]

I VOTED TWICE for Bush.
AGAIN NONE of you seem to recognize that 4 major events occurred that have never occurred during any other president's terms.
More importantly this crap about housing bubble???
AGAIN FACTS FACTS FACTS!!!

Obama...
1) 1995 ACORN/with Obama sued CitiBank forcing them to make loans to people THAT would default on their properties!
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!
2) Banks were forced by FDIC to SELL these TOXIC loans to Fannie/Freddie.. and because in their own words

Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's 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."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News


3) AND YOU HAVE NO idea of what happened on 9/18/2008...

The near economic collapse on Thursday (Sept 18,2008), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed.
It would have been the end of our economic system and our political system as we know it.

Zero Hedge How The World Almost Came To An End At 2PM On September 18


Now as far as TARP...

Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010[update]. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[4]

Now.. WHAT HAPPENED to TARP the program that Bush has been blamed for?
Bailout Scorecard Eye on the Bailout ProPublica
$615 billion went out
$672 Billion came in...

ALL PAID BACK...
PLUS A PROFIT of: $57.7 billion...

I can't believe there are still idiots blaming Barney Frank for the real estate bubble collapse. He was one member of the minority party and you think he brought the whole system down. Republicans controlled the house. Republicans controlled the Senate. Republicans controlled the executive branch. Republicans get the blame, not a member of the minority party. I can't believe you're still in blaine barney frank for the real estate bubble collapse. I'm not saying Barney Frank was right. He wasn't. But he was just one member of the minor party and you think he brought a whole system down.

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

Oy vey. "That point" was 2003-2006. That's when those bills I cited were squashed by Republican leadership. Republicans controlled both chambers of congress at that time.

But you've blamed Bush for nothing getting done when in all fairness he WAS attempting to address what he saw as a looming problem. My question remains the same...was he right...and were Dodd and Frank completely wrong?

 

[Faun]

Holyfuck.

You didn't even know a bill on GSE reform was about GSE reform. Now you look like a total dumbshit blaming a member of the minority party in the House and another in the Senate when Frank could do nothing to prevent the House from passing GSE reform and Dodd could only filibuster such a bill to prevent it -- but didn't.

you look like an even bigger idiot crying that Frank couldnt do anything when it doesnt matter; he's on record saying nothing needed to be done

all you do is make a fool of yourself faun

What an imbecile you are. You must think Barney Frank is Superman, capable of forcing the opposition to bow down to do his bidding?

Ok, cite the House bill(s) he prevented from passing......

once more dummy


STRAW MAN
he is on record saying nothing needed to be done

try again

Again, so what? He still did nothing to prevent the majority party Republicans from passing any bills.

Well first of all the first six years of GWB was dealing with THESE ISSUES dummy!!!
And as far as the LAST two years of GWB...
Both Senate and house were under Pelosi/Reid... Democrat control.

Recession
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!

Source: USATODAY.com - It s official 2001 recession only lasted eight months

A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs

The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.

4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

The 2001 recession started in March, 2001 -- not under Clinton. Damn, you rightards can't handle reality, can you?

 

[Wildman]

ONCE MORE.......

RECORD 93,770,000 AMERICANS NOT IN LABOR FORCE

 

[Faun]

I can't believe there are still idiots blaming Barney Frank for the real estate bubble collapse. He was one member of the minority party and you think he brought the whole system down. Republicans controlled the house. Republicans controlled the Senate. Republicans controlled the executive branch. Republicans get the blame, not a member of the minority party. I can't believe you're still in blaine barney frank for the real estate bubble collapse. I'm not saying Barney Frank was right. He wasn't. But he was just one member of the minor party and you think he brought a whole system down.

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

Oy vey. "That point" was 2003-2006. That's when those bills I cited were squashed by Republican leadership. Republicans controlled both chambers of congress at that time.

But you've blamed Bush for nothing getting done when in all fairness he WAS attempting to address what he saw as a looming problem. My question remains the same...was he right...and were Dodd and Frank completely wrong?

Yes, he was and yes, they were. And I'm not blaming Bush for failing to pass GSE reform. I've consistently blamed Congress. Specifically the Republican party since they were the party in charge. Democrats were wrong, no doubt; but they weren't the ones sitting on the GSE reform bills Bush was asking for. Republicans did that.

 

[pinqy]

ONCE MORE.......

RECORD 93,770,000 AMERICANS NOT IN LABOR FORCE

And why? 93% do not want or need a job.

 

[Wyatt earp]

ONCE MORE.......

RECORD 93,770,000 AMERICANS NOT IN LABOR FORCE

And why? 93% do not want or need a job.

yea they have welfare

Do the math unsustainable....

In the 1950s it was like 12 workers supported a person on welfare

Today it is like 4 workers support some one on welfare

Do the math you retarded libs....

 

[pinqy]

ONCE MORE.......

RECORD 93,770,000 AMERICANS NOT IN LABOR FORCE

And why? 93% do not want or need a job.

yea they have welfare

Do the math unsustainable....

In the 1950s it was like 12 workers supported a person on welfare

Today it is like 4 workers support some one on welfare

Do the math you retarded libs....

Ok, how many of the 93 million are dependent on welfare?

 

[Wyatt earp]

ONCE MORE.......

RECORD 93,770,000 AMERICANS NOT IN LABOR FORCE

And why? 93% do not want or need a job.

yea they have welfare

Do the math unsustainable....

In the 1950s it was like 12 workers supported a person on welfare

Today it is like 4 workers support some one on welfare

Do the math you retarded libs....

Ok, how many of the 93 million are dependent on welfare?

Why you telling me now we have 93 million folks who are millionaires now?

Out of some 300 million people?

Do the math.it's unsustainable

 

[Faun]

ONCE MORE.......

RECORD 93,770,000 AMERICANS NOT IN LABOR FORCE

Since when is that not a record high? How come rightards only complain about it when a Democrat is in the White House?

 

[Oldstyle]

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

Oy vey. "That point" was 2003-2006. That's when those bills I cited were squashed by Republican leadership. Republicans controlled both chambers of congress at that time.

But you've blamed Bush for nothing getting done when in all fairness he WAS attempting to address what he saw as a looming problem. My question remains the same...was he right...and were Dodd and Frank completely wrong?

Yes, he was and yes, they were. And I'm not blaming Bush for failing to pass GSE reform. I've consistently blamed Congress. Specifically the Republican party since they were the party in charge. Democrats were wrong, no doubt; but they weren't the ones sitting on the GSE reform bills Bush was asking for. Republicans did that.

When Bush made that statement, Faun...the Democrats had control of Congress...not the GOP...so I'm having a hard time seeing how your claim that the GOP was the party "in charge" is valid. If you read your own cite you can see that Barney Frank wanted more of the same...he wasn't looking to fix anything.