Conservatives,Let's Compare First Five Years Into The Bush Years To Obama's First 5.

[hortysir]

Now you don't even have to go online and do your research.
Just tell us how well off you were financially, the equity you built in your home, the numerous job offers you had to refuse because of "The Booming Bush Economy".
Wasn't unemployment around 5% back then? Homes were selling faster than the time it took for an Obama Supporter to answer "Who Is The Vice-President" ??
And what was the national debt in 2005?

No need to compare the stats of 2013. And the left thinks all is doing well? The economy is booming??

What happy horseshit. Hey tiger, were you around at the end of the Bush presidency? Lets talk about that.

Do you remember (fondly I am sure) when Bush had to go on the TV and explain how the economy and the banking industry were about to collapse?

Do you or can you remember that?

Or how about the last 6 months of the Bush presidency. You remember that. I do. I remember losing 25% of the equity in my properties and about 40% loss in my other investments.

Did you have any assets at the end of the Bush presidency?

Yes sir it was GREAT at the end wasn't it?

TARP (Bush started it, Obama finished it) is probably the strongest bit of shoring our economy had in its favor.
Without it we'd be Cyprus right now

 

[TheSeventhTiger]

Frickin Dodd & Barney the Dodo Bird!!

 

[Vox]

I know they were forced, we all did, doesnt mean any poor person should just take the money! what ever happened to working hard for two years to SAVE FOR A DOWNPAYMENT !!! I did on my first home.

I don't think the most to blame were the ones who took the money and bought their FIRST home, even if it was beyond their means ( I was exactly in that position - I did not buy a home since I won't make ends meet on a 40K salary at the moment( 2005) but I was considered an idiot by peers, and then -a genius in 4 years when the time to sell and move came and all those buyers could not sell for years )))

I think the most irresponsible were those who, having ONE mortgage and payments on it were buying a second home they could not afford as investment.

 

[Vox]

bush walked into a good economy
whether Clinton earned.it or not would be another thread
obama had it rough starting out..
whos policies at fault would be another thread LOL

Bush walked into RECESSION which he steered away quickly and skillfully.

Obama walked into the same recession and made things much worse

This makes no sense. If Bush steered the recession away, how did Obama walk into the same recession?

the same economical conditions of a recession not a booming economy

are you mentally challenged?

 

[zeke]

and how could any bank in 2004/05/06 give $250,000 loans to people making under $30,000? and why would they even take the loan in the first place!? god, who wants to be $250-300K in debt making 30-40K a year? thank god I paid cash for my condo, I would never wanna owe anyone a 6 digit figure!!

the banks were FORCED to do it, so they found the loophole.

the collapse of 2008 was caused by

1) Clinton's repeal of Glass-Steagall
2) forceful enforcement of the mortgage loaning to dangerous clients with penalties if the banks do not - forced by dems
3) banks finding loopholes to do so and go on steroids with risks
4) Dems refusing to control the Fanny and Freddie with Barney outfront LYING that everything is nice and peachy
5) irresponsible greedy customers who wanted to make their little buck in the growing and growing and growing bubble

I have read a LOT of stupid things written here by those that identify as Republicans.

But the highlighted above is close to the most stupid thing I have read. Yet.

Thank you for saying that. It was amazing to see your warped sense of the world.

The banks were "forced" to make bad loans. Priceless.

 

[TheSeventhTiger]

and I wonder how many individuals bought these 150-250K homes with only 3-5K left in the bank. If your gonna buy a new/exsisting home, regardless of whether its in a managed community or not, you better have close to 10/maybe 15K set aside for taxes/maintenace/unexpected predicamets(hey, we get that in Florida all the time !!!). I always keep a comfortable balance in my accounts god forbid something happens or i have another bill added to my maintenance.

 

[TNHarley]

bush walked into a good economy
whether Clinton earned.it or not would be another thread
obama had it rough starting out..
whos policies at fault would be another thread LOL

Bush walked into RECESSION which he steered away quickly and skillfully.

Obama walked into the same recession and made things much worse

IDK Vox..
I have always looked at calling the " Dot Com burst" being a recession was a RW talking point.
The "2000 recession" didn't hit the US until 2002 or 2003 I think? That happened in most developed countries..
Besides, there wasn't even 2 consecutive quarters of loss here in the US.

 

[TheSeventhTiger]

even with my parents in Hollywood. I cant beleive their quarterly bill is around 1000.00 !!! but my dad has had a comfortable five digit balance throughout his retirement years.

 

[hortysir]

and how could any bank in 2004/05/06 give $250,000 loans to people making under $30,000? and why would they even take the loan in the first place!? god, who wants to be $250-300K in debt making 30-40K a year? thank god I paid cash for my condo, I would never wanna owe anyone a 6 digit figure!!

the banks were FORCED to do it, so they found the loophole.

the collapse of 2008 was caused by

1) Clinton's repeal of Glass-Steagall
2) forceful enforcement of the mortgage loaning to dangerous clients with penalties if the banks do not - forced by dems
3) banks finding loopholes to do so and go on steroids with risks
4) Dems refusing to control the Fanny and Freddie with Barney outfront LYING that everything is nice and peachy
5) irresponsible greedy customers who wanted to make their little buck in the growing and growing and growing bubble

I have read a LOT of stupid things written here by those that identify as Republicans.

But the highlighted above is close to the most stupid thing I have read. Yet.

Thank you for saying that. It was amazing to see your warped sense of the world.

The banks were "forced" to make bad loans. Priceless.

Makes just as much sense as poor people being "forced" to take on a mortgage they'd never afford to pay back

 

[TheSeventhTiger]

i can still remember bill o'rielly on this subject., i think it was late 2009/early 2010, he bitched and bitched on how it was around 10% of the adults in the USA who F*****Ked it up for the rest taking out mortgages they knew they couldnt afford. and he was right,,,,frikkin greedy poor people who wanted it all,.,,AND WANTED IT NOW !!!!

 

[TheSeventhTiger]

I wonder how pissed middle class americans who worked 2/3 years to buy a home felt back then as banks were giving away homes to the poor and even dead people.

 

[Steven_R]

You idiot.

You are referring to the corporate tax rate. The capital gains tax is 15%...ask Mitt. Do you even know what that means?

The corporate tax rate is 35%. But almost no corporations pay it. There are loopholes that make it as low as ZERO for some of the bigger ones.

You are a dupe......who has been duped.

And....you are not funny.

No company pays any taxes ever, period. They pass those expenses on to their customers.

 

[RKMBrown]

Now you don't even have to go online and do your research.
Just tell us how well off you were financially, the equity you built in your home, the numerous job offers you had to refuse because of "The Booming Bush Economy".
Wasn't unemployment around 5% back then? Homes were selling faster than the time it took for an Obama Supporter to answer "Who Is The Vice-President" ??
And what was the national debt in 2005?

No need to compare the stats of 2013. And the left thinks all is doing well? The economy is booming??

I tripled my income under Bush. Under Obama, my former employer offered me a promotion but the promotion included my choice of moving to China, Saudi Arabia, Brazil, or India; or 90% travel within the US. My previous job you see was off-shored to China, the whole team to be specific. I turned the "generous" offer down and now work at home for a small startup, happily, for about 1/2 my previous salary.

IMO this President and his fellow democrats, really just don't give a shit about anyone who is not at least one of rich, poor, a union member, or a government worker.

 

[Vox]

The banks were "forced" to make bad loans. Priceless.

sure they were, only libtard idiots don't know that it was done through Community Reinvestment Act. Started by Carter continued by Clinton lowered the standards for buying a home so that you could now make unsafe loans.
Lending
Closing the Gap - Boston Fed
Community Reinvestment Act - Wikipedia, the free encyclopedia

The Government-Created Subprime Mortgage Meltdown ? LewRockwell.com

So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities.

Banks have been placed in a Catch 22 situation by the CRA: If they comply, they know they will have to suffer from more loan defaults. If they don’t comply, they face financial penalties and, worse yet, their business plans for mergers, branch expansions, etc. can be blocked by CRA protesters, which can cost a large corporation like Bank of America billions of dollars. Like most businesses, they have largely buckled under and have surrendered to their bureaucratic masters.

Consequently, banks in every community in America have been forced to hold a portfolio of bad loans, euphemistically referred to as "subprime" loans. In order to compensate themselves for the added risk of extending these loans, many lenders have increased the lending fees associated with mortgage loans. This is simply an indirect way of doing what banks always do — and what they must do to remain solvent: charging effectively higher rates of interest on riskier loans.

 

[TNHarley]

and how could any bank in 2004/05/06 give $250,000 loans to people making under $30,000? and why would they even take the loan in the first place!? god, who wants to be $250-300K in debt making 30-40K a year? thank god I paid cash for my condo, I would never wanna owe anyone a 6 digit figure!!

the banks were FORCED to do it, so they found the loophole.

the collapse of 2008 was caused by

1) Clinton's repeal of Glass-Steagall
2) forceful enforcement of the mortgage loaning to dangerous clients with penalties if the banks do not - forced by dems
3) banks finding loopholes to do so and go on steroids with risks
4) Dems refusing to control the Fanny and Freddie with Barney outfront LYING that everything is nice and peachy
5) irresponsible greedy customers who wanted to make their little buck in the growing and growing and growing bubble

I have read a LOT of stupid things written here by those that identify as Republicans.

But the highlighted above is close to the most stupid thing I have read. Yet.

Thank you for saying that. It was amazing to see your warped sense of the world.

The banks were "forced" to make bad loans. Priceless.

Community Reinvestment Act??? (liberal policies )
To comply with the CRA, banks had to show that they did not discriminate in making loans in poor and black neighborhoods!
That compliance got tougher in 1995 when Clinton decided to help fuck shit up, forcing banks to demonstrate statistically they were making their quota of loans in low-income neighborhoods and encouraging community activist groups like NACA to file complaints against banks.

 

[Steven_R]

You should have gone to Brazil. The dollar goes farther, the food is awesome, and the women are young, hot, and DTF any American if they think they can sleep their way to a green card.

 

[zeke]

I wonder how pissed middle class americans who worked 2/3 years to buy a home felt back then as banks were giving away homes to the poor and even dead people.

You are either an idiot or drinking heavily. Or both. You figure out which tax you were talking about earlier? Was it the capital corporate real estate income abatement tax? Is that the one?
I think it was 15%. Yea, that's the one.

 

[TheSeventhTiger]

I remember buying my first condo, my maintenace was $127.00 a month!!! now thats the price to fill up a truck with gas.

 

[Vox]

I wonder how pissed middle class americans who worked 2/3 years to buy a home felt back then as banks were giving away homes to the poor and even dead people.

You are either an idiot or drinking heavily. Or both. You figure out which tax you were talking about earlier? Was it the capital corporate real estate income abatement tax? Is that the one?
I think it was 15%. Yea, that's the one.

you better STFU yourself, idiot.

You have just submitted to the whole world how ignorant you are that you never heard of CRA and the ways of its enforcement

 

[whitehall]

The first five years of the Bush administration were fine if you can omit the constant hate filled rhetoric by the mainstream media and the treasonous democrat party. When the democrats gained the majority in both houses half way into Bush's 2nd term is when all hell broke loose. The powerful new democrat house banking chairman (now retired and married to his boyfriend) was in charge of Fannie Mae and he looked America right in the eye and declared Fannie Mae to be solvent and fine when it was on the verge of collapse. Thanks to democrat interference, Barney Frank was never called to testify about what the hell he was doing. Sure enough Fannie Mae collapsed just in time for the election. Coincidence or the most notorious October surprise in history?