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

[Sallow]

CRA was the root of the financial crisis, section Vi to be precise.

That lie has been debunked, but facts don't matter.

New Study - Facts Don't Matter When Political Agendas Are Involved | The Allegiant

Your article doesn't debunk squat.

The CRA began in the 70s. The recent financial crisis started around 2001 when the line between financial institutions and savings banks were blurred.

It started because corporate executives had the bright idea of packaging loans and selling them as "financial instruments". They were responsible for backing predatory loan agencies like "Citi Residential Lending" and infecting the market with the mortgage backed securities.

The CRA had absolutely nothing to do with that.

 

[edthecynic]

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 !!!!

in my level of responsibility I place those 10% on the LAST position.

There are much more responsible in a much higher positions.

and though people in the last positions differ, all of the higher-ups have something very common - they ALL are leftard dimocraps

Frank and Dodd were chairs of their respective banking committees.
They told me everything was hunky-dory

The GOP held the committee chairmanships! Frank and Dodd were powerless minority Party seats on the committee!

 

[healthmyths]

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

Fu..king LIE!
A recorded RECESSION that started under CLINTON officially began on 3/2001!


Also NOT ONE of you obviously were alive from 2001 to 2008!
THESE ARE REAL EVENTS that COST REAL MONEY FOLKS!!!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value.. this means every year for 30 years now starting in 2000 the federal revenue is over $20 billion written off against taxes owed.
300,000 people LOST jobs due to the bust!

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.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $8 billion will NOT BE PAiD.. was that Bush's fault?
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
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.
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.
The Top 10 Financial Events of the Decade

DID THIS HAPPEN??
3) $1 trillion in written off 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. Andrew slammed into South Florida in 1992 as a Category 5. It caused 40 deaths and $30 billion in property damage. More than 250,000 people were left homeless and 82,000 businesses were destroyed or damaged.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Almost 1 million jobs alone from those 3 events

All of this while having almost $60 billion a year in tax revenue due to the above losses !

FACT! The HIGHEST gross REVENUE to the Federal Government in HISTORY.. 2007 2,567,985,000 Revenues ; Expenses:$2,728,686,000 -160,701 deficit decline
Historical Tables | The White House

YOU PEOPLE don't remember these events do you???

DUMB DUMB DUMB!!! THESE EVENTS occurred!
Dot com bust 9/11 happened worst hurricanes in history and you idiots say Bush had it EASY???

 

[BlindBoo]

all Obama had to do was lower the capital gains tax to approx. 20% in 2009. at least that would of been a start! why wont he ever drop it from the current 35%??? no wonder thousands of small businesses collapsed/closed under his watch. Never mind what Obama-Care is doing to them.

Of course short term Capital Gains have always been taxed the same as regular income.

Long term Capital Gains tax has bee 15% all through Obamas terms until 2013 when only the two highest brackets got raised 3.8% and 8.8% respectively.

Federal Capital Gains Tax Rates, 1988-2013 | Tax Foundation

As for your OP. President Obama got handed a big pile of Shit to start with.

Is that what you think of America? A big pile of Shit?

What if it is, what-cha-gonna do about it internet tough guy?

HahahaHa

Cereally, dude, the economy........

 

[BlindBoo]

all Obama had to do was lower the capital gains tax to approx. 20% in 2009. at least that would of been a start! why wont he ever drop it from the current 35%??? no wonder thousands of small businesses collapsed/closed under his watch. Never mind what Obama-Care is doing to them.

Of course short term Capital Gains have always been taxed the same as regular income.

Long term Capital Gains tax has bee 15% all through Obamas terms until 2013 when only the two highest brackets got raised 3.8% and 8.8% respectively.

Federal Capital Gains Tax Rates, 1988-2013 | Tax Foundation

As for your OP. President Obama got handed a big pile of Shit to start with.

Obama got handed TARP already passed and a 1.2 Trillion bundle of cash to fix things and all he did was stir up the big pile of shit.

What was that state of the economy that he was he handed TARP?

 

[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

Fu..king LIE!
A recorded RECESSION that started under CLINTON officially began on 3/2001!


Also NOT ONE of you obviously were alive from 2001 to 2008!
THESE ARE REAL EVENTS that COST REAL MONEY FOLKS!!!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value.. this means every year for 30 years now starting in 2000 the federal revenue is over $20 billion written off against taxes owed.
300,000 people LOST jobs due to the bust!

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.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $8 billion will NOT BE PAiD.. was that Bush's fault?
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
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.
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.
The Top 10 Financial Events of the Decade

DID THIS HAPPEN??
3) $1 trillion in written off 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. Andrew slammed into South Florida in 1992 as a Category 5. It caused 40 deaths and $30 billion in property damage. More than 250,000 people were left homeless and 82,000 businesses were destroyed or damaged.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Almost 1 million jobs alone from those 3 events

All of this while having almost $60 billion a year in tax revenue due to the above losses !

FACT! The HIGHEST gross REVENUE to the Federal Government in HISTORY.. 2007 2,567,985,000 Revenues ; Expenses:$2,728,686,000 -160,701 deficit decline
Historical Tables | The White House

YOU PEOPLE don't remember these events do you???

DUMB DUMB DUMB!!! THESE EVENTS occurred!
Dot com bust 9/11 happened worst hurricanes in history and you idiots say Bush had it EASY???

I never did say bush had it easy. take a goddamn xanax
I have always read the recession didnt start officially until 2002 or 03
but I will agree to disagree because I dont like you yelling

 

[zeke]

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

Fu..king LIE!
A recorded RECESSION that started under CLINTON officially began on 3/2001!


Also NOT ONE of you obviously were alive from 2001 to 2008!
THESE ARE REAL EVENTS that COST REAL MONEY FOLKS!!!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value.. this means every year for 30 years now starting in 2000 the federal revenue is over $20 billion written off against taxes owed.
300,000 people LOST jobs due to the bust!

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.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $8 billion will NOT BE PAiD.. was that Bush's fault?
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
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.
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.
The Top 10 Financial Events of the Decade

DID THIS HAPPEN??
3) $1 trillion in written off 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. Andrew slammed into South Florida in 1992 as a Category 5. It caused 40 deaths and $30 billion in property damage. More than 250,000 people were left homeless and 82,000 businesses were destroyed or damaged.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Almost 1 million jobs alone from those 3 events

All of this while having almost $60 billion a year in tax revenue due to the above losses !

FACT! The HIGHEST gross REVENUE to the Federal Government in HISTORY.. 2007 2,567,985,000 Revenues ; Expenses:$2,728,686,000 -160,701 deficit decline
Historical Tables | The White House

YOU PEOPLE don't remember these events do you???

DUMB DUMB DUMB!!! THESE EVENTS occurred!
Dot com bust 9/11 happened worst hurricanes in history and you idiots say Bush had it EASY???

I never did say bush had it easy. take a goddamn xanax
I have always read the recession didnt start officially until 2002 or 03
but I will agree to disagree because I dont like you yelling

Man your're getting blasted from both sides. Hey I didn't know I was speaking with someone as young as you. I'll go easier and make allowances for your positions.

But tell me, why is it that you and people that think like you are SO invested in the idea that it had to be the Community Reinvestment Act the was the cause of the housing collapse?

I have seen that position expressed repeatedly but no one ever puts up evidence of the same. And of course, my own persona experience of sweeping the floors and writing mortgage loans for banks makes me believe that the CRA had nothing to do with the problem.

If you want, I or others can tell you why the CRA was enacted back in the late 70ties. Back when you parents were kids. Before you were thought about, there was still banks and lending and discrimination and everything.

 

[hortysir]

in my level of responsibility I place those 10% on the LAST position.

There are much more responsible in a much higher positions.

and though people in the last positions differ, all of the higher-ups have something very common - they ALL are leftard dimocraps

Frank and Dodd were chairs of their respective banking committees.
They told me everything was hunky-dory

The GOP held the committee chairmanships! Frank and Dodd were powerless minority Party seats on the committee!

Frank/Dodd powerless

 

[TheSeventhTiger]

and now Congresses approval will shoot up to 70% cause they de-funded obama-care!

 

[Seawytch]

and now Congresses approval will shoot up to 70% cause they de-funded obama-care!

They lost approval the last time they did this. You might want to rethink that statement.

 

[TheSeventhTiger]

The stock market will go up if they pull this off.

 

[kiwiman127]

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

Though I am not a fan of "O", let's compare recession and that alleged act of "W" "he steered away quickly and skillfully".
Compare the recession of 2001 to previous recessions, it certainly appears to have taken quite awhile longer than previous deeper recessions. Also during "W"'s time, sending jobs offshore skyrocketed to the point of almost half the jobs created were created offshore despite lowering capital gains/dividend taxes down to 15%.

 

[TNHarley]

Fu..king LIE!
A recorded RECESSION that started under CLINTON officially began on 3/2001!


Also NOT ONE of you obviously were alive from 2001 to 2008!
THESE ARE REAL EVENTS that COST REAL MONEY FOLKS!!!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value.. this means every year for 30 years now starting in 2000 the federal revenue is over $20 billion written off against taxes owed.
300,000 people LOST jobs due to the bust!

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.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $8 billion will NOT BE PAiD.. was that Bush's fault?
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
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.
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.
The Top 10 Financial Events of the Decade

DID THIS HAPPEN??
3) $1 trillion in written off 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. Andrew slammed into South Florida in 1992 as a Category 5. It caused 40 deaths and $30 billion in property damage. More than 250,000 people were left homeless and 82,000 businesses were destroyed or damaged.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Almost 1 million jobs alone from those 3 events

All of this while having almost $60 billion a year in tax revenue due to the above losses !

FACT! The HIGHEST gross REVENUE to the Federal Government in HISTORY.. 2007 2,567,985,000 Revenues ; Expenses:$2,728,686,000 -160,701 deficit decline
Historical Tables | The White House

YOU PEOPLE don't remember these events do you???

DUMB DUMB DUMB!!! THESE EVENTS occurred!
Dot com bust 9/11 happened worst hurricanes in history and you idiots say Bush had it EASY???

I never did say bush had it easy. take a goddamn xanax
I have always read the recession didnt start officially until 2002 or 03
but I will agree to disagree because I dont like you yelling

Man your're getting blasted from both sides. Hey I didn't know I was speaking with someone as young as you. I'll go easier and make allowances for your positions.

But tell me, why is it that you and people that think like you are SO invested in the idea that it had to be the Community Reinvestment Act the was the cause of the housing collapse?

I have seen that position expressed repeatedly but no one ever puts up evidence of the same. And of course, my own persona experience of sweeping the floors and writing mortgage loans for banks makes me believe that the CRA had nothing to do with the problem.

If you want, I or others can tell you why the CRA was enacted back in the late 70ties. Back when you parents were kids. Before you were thought about, there was still banks and lending and discrimination and everything.

cause I am not partisan. oh well.
I never said it was solely responsible for the crash, I just understand it set up the regulations for it to happen.

 

[boilermaker55]

And this coming from the crowd that touts standing on your own and taking responsibility. Shit. Now that someone else has control over something you cannot control it sucks.
Fuck, get your life together and stand up on your own two feet.
Your type sure does spin the shit out of things to suit your desires.

I remember paying 97 cents a gallon in 2001 or 2002. and Always had a JOB !!

 

[JoeB131]

[]

Obama lost the Congress in 2012. Obama is making a bad economy worse. You clowns are too stupid to realize this guy is a huge mistake.

Democratic House Candidates got 1.4 million more votes in House Races than Republicans did.

The only thing that saved Boo-hoo-ner's job was that the state legislatures gerrymandered districts to save the election of some of them.

 

[TheSeventhTiger]

we can all hope that when the exchanges open ( now thats if they are ready) No One Will Show Up !! or If They do show up and see the monthly charges,,,,THEY WALK AWAY !!

 

[rdean]

Those last three years were a bitch. No wonder they want to leave those out.

 

[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

Though I am not a fan of "O", let's compare recession and that alleged act of "W" "he steered away quickly and skillfully".
Compare the recession of 2001 to previous recessions, it certainly appears to have taken quite awhile longer than previous deeper recessions. Also during "W"'s time, sending jobs offshore skyrocketed to the point of almost half the jobs created were created offshore despite lowering capital gains/dividend taxes down to 15%.

that's a blah-blah-blah.

the truth is the unemployment was steady around 5% all the way until the very end - which is not W fault, considering the causes.

And it was steered quickly and skillfully - therefore the impact was not big and it was forgotten fast.

Would it have been Gore - we would have recession the whole decade.

 

[Vox]

Bush had to contend with the dotcom bust, Katrina and 911 without getting a 1.2 trillion dollar bailout. Obama had it easy by comparison, but pissed away billions on green jobs that all went bust.

true

 

[TheSeventhTiger]

So where are all of these millions of green jobs obama promised in 2008?