Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Seven and a half years of Bush, warnings to Congress, legislation blocked by Dodd, Frank, Chuckie Cheese, and the subversives, & NO ONE THINKS OF THE OCTOBER SURPRISE????...All planed LONG in advance to insure a Democratic victory in November.... Let the name calling, & conspiracy theory lapdogs tart their rants an rage!
Seven and a half years of Bush, warnings to Congress, legislation blocked by Dodd, Frank, Chuckie Cheese, and the subversives, & NO ONE THINKS OF THE OCTOBER SURPRISE????...All planed LONG in advance to insure a Democratic victory in November.... Let the name calling, & conspiracy theory lapdogs tart their rants an rage!
REALLY?
While Rushbo was praising GW for turning the other cheek because the Sub-Primes were less than 3% of the outstanding Loans?
Try again.
Seven and a half years of Bush, warnings to Congress, legislation blocked by Dodd, Frank, Chuckie Cheese, and the subversives, & NO ONE THINKS OF THE OCTOBER SURPRISE????...All planed LONG in advance to insure a Democratic victory in November.... Let the name calling, & conspiracy theory lapdogs tart their rants an rage!
REALLY?
While Rushbo was praising GW for turning the other cheek because the Sub-Primes were less than 3% of the outstanding Loans?
Try again.
The Bush administration took warnings, AND LEGISLATION to Congress, and Greenspan PREDICTED EXACTLY what would happen... Apparently YOU didn't watch any of the videos. but I would expect nothing less from a subversive! The sub primes were just THE TRIGGER! You either jest, or are dumber than Dante!...I'll go with #2!
REALLY?
While Rushbo was praising GW for turning the other cheek because the Sub-Primes were less than 3% of the outstanding Loans?
Try again.
The Bush administration took warnings, AND LEGISLATION to Congress, and Greenspan PREDICTED EXACTLY what would happen... Apparently YOU didn't watch any of the videos. but I would expect nothing less from a subversive! The sub primes were just THE TRIGGER! You either jest, or are dumber than Dante!...I'll go with #2!
I wasn't watching CSPAN.
I was listening to Rush and Hannity on a daily basis; apparently, you weren't.
I was such a neo-Con; what a fool I was.
If I had to pick someone who is more at fault for this whole mess, as there are many out there, it would be gramm.............
Phil Gramms Enron Favor | Village Voice
The Bush administration took warnings, AND LEGISLATION to Congress, and Greenspan PREDICTED EXACTLY what would happen... Apparently YOU didn't watch any of the videos. but I would expect nothing less from a subversive! The sub primes were just THE TRIGGER! You either jest, or are dumber than Dante!...I'll go with #2!
I wasn't watching CSPAN.
I was listening to Rush and Hannity on a daily basis; apparently, you weren't.
I was such a neo-Con; what a fool I was.
Calling yourself a fool sounds like a truism! You should have been listening to Air America, those fools would have made you feel better!
If I had to pick someone who is more at fault for this whole mess, as there are many out there, it would be gramm.............
Phil Gramms Enron Favor | Village Voice
Along with the S&L crisis of the 80's.
Pretty sure 2008 would have occurred with or without Bush.
Nope, sorry, the mergers on speculation monies were all BushCo.
Even if that's true, how does that effect whether 2008 would occur? Seems like it would naturally follow 2007 even if Bush wasn't around.
I wasn't watching CSPAN.
I was listening to Rush and Hannity on a daily basis; apparently, you weren't.
I was such a neo-Con; what a fool I was.
Calling yourself a fool sounds like a truism! You should have been listening to Air America, those fools would have made you feel better!
In other words, you are correctly stating that I was listening to the lying Knee-Jerk Republican Rats of Conservative Talk Radio.
.
Only hardcore partisan ideologues could blame the most complicated and massive economic meltdown in history on one guy, party affiliation irrelevant.
The Meltdown had many contributors, it built up over decades, and was cultural in its DNA.
.
And Bush killed his own GOP legislation right there in Congress. It was never intended to pass, only to give the GOP the appearance of of trying to make some reforms. When the bill finally passed in the House over the objections of the powerless Barney Frank, Bill "Slick Willie" Frist, the GOP MAJORITY leader in the Senate killed the bill by refusing to bring it up for a vote, sending it to committee to die, which it did.Seven and a half years of Bush, warnings to Congress, legislation blocked by Dodd, Frank, Chuckie Cheese, and the subversives, & NO ONE THINKS OF THE OCTOBER SURPRISE????...All planed LONG in advance to insure a Democratic victory in November.... Let the name calling, & conspiracy theory lapdogs tart their rants an rage!
REALLY?
While Rushbo was praising GW for turning the other cheek because the Sub-Primes were less than 3% of the outstanding Loans?
Try again.
The Bush administration took warnings, AND LEGISLATION to Congress, and Greenspan PREDICTED EXACTLY what would happen... Apparently YOU didn't watch any of the videos. but I would expect nothing less from a subversive! The sub primes were just THE TRIGGER! You either jest, or are dumber than Dante!...I'll go with #2!
Calling yourself a fool sounds like a truism! You should have been listening to Air America, those fools would have made you feel better!
In other words, you are correctly stating that I was listening to the lying Knee-Jerk Republican Rats of Conservative Talk Radio.
You must be right as 14+ million listeners daily make him the #1 show for over a decade now, but if that makes your panties wet stating it, who am I to take away your enjoyment!
And Bush killed his own GOP legislation right there in Congress. It was never intended to pass, only to give the GOP the appearance of of trying to make some reforms. When the bill finally passed in the House over the objections of the powerless Barney Frank, Bill "Slick Willie" Frist, the GOP MAJORITY leader in the Senate killed the bill by refusing to bring it up for a vote, sending it to committee to die, which it did.REALLY?
While Rushbo was praising GW for turning the other cheek because the Sub-Primes were less than 3% of the outstanding Loans?
Try again.
The Bush administration took warnings, AND LEGISLATION to Congress, and Greenspan PREDICTED EXACTLY what would happen... Apparently YOU didn't watch any of the videos. but I would expect nothing less from a subversive! The sub primes were just THE TRIGGER! You either jest, or are dumber than Dante!...I'll go with #2!
The GOP killed their own reform bill because they wanted only the appearance of working for reform without ever doing any reform because they knew the dumb SUCKERS that vote for the GOP are too STUPID to know the difference between enacting reform and pretending to enact reform.
In other words, you are correctly stating that I was listening to the lying Knee-Jerk Republican Rats of Conservative Talk Radio.
You must be right as 14+ million listeners daily make him the #1 show for over a decade now, but if that makes your panties wet stating it, who am I to take away your enjoyment!
That simply means I'm more discerning than 14+ million people who listen to guys who you just stated a mere few postings ago were lying through their teeth.
Please do continue to attempt to toss mud on your own contradiction in this posting.
And Bush killed his own GOP legislation right there in Congress. It was never intended to pass, only to give the GOP the appearance of of trying to make some reforms. When the bill finally passed in the House over the objections of the powerless Barney Frank, Bill "Slick Willie" Frist, the GOP MAJORITY leader in the Senate killed the bill by refusing to bring it up for a vote, sending it to committee to die, which it did.The Bush administration took warnings, AND LEGISLATION to Congress, and Greenspan PREDICTED EXACTLY what would happen... Apparently YOU didn't watch any of the videos. but I would expect nothing less from a subversive! The sub primes were just THE TRIGGER! You either jest, or are dumber than Dante!...I'll go with #2!
The GOP killed their own reform bill because they wanted only the appearance of working for reform without ever doing any reform because they knew the dumb SUCKERS that vote for the GOP are too STUPID to know the difference between enacting reform and pretending to enact reform.
he GOP senate did NOT have enough votes to pass the bill, or didn't YOU watch the video stating such? So what Harry Reid in the Senate is now doing to all the HOUSE BILLS that have been passed but he won't let a vote on them, is basically the same thing you are saying?
FACT: Liberal Public Policy caused the mortgage crisis by mandating eased requirements for lending, even to people who had no chance of ever paying the loan back. If banks and other lending institutions did not comply, their "score" from the SEC was too low to permit certain business transactions such as merges, etc. This is nothing less than a gun held to the head.
FACT: Many lending institutions were sued or otherwise pressured by ACORN, forcing them to make loans to folks who didn't qualify nor had any chance of ever repaying that loan.
FACT: HUD (Housing and Urban Development) under Andrew Cuomo, head of HUD) browbeat banks to make loans to folks who they knew couldn't pay them back.
FACT: Many lending institutions were sued or otherwise pressured by ACORN, forcing them to make loans to folks who didn't qualify nor had any chance of ever repaying that loan. IN FACT, BARACK OBAMA WAS INVOLVED IN AT LEAST ONE OF THESE LAWSUITS
FACT: Fannie Mae's sole purpose for being was to offer a Federal Guarantee of loans. So banks and other lending institutions didn't need to worry about thing. If a loan went bad, Fannie Mae was there to pick up the pieces (until there were too many pieces to pick up)
FACT: The Democrats stacked the operations of Fannie Mae with other Democrats who then cooked the books (FM had to pay MILLIONS in fines to the SEC over this) and took HUNDREDS OF MILLIONS OF DOLLARS in bonuses and funneled MILLIONS in campaign contributions to members of Congress. Franklin Raines (part of the Obama Administration) personally took 90 million dollars despite Fannie Mae's fines and fraud.
FACT: Bill Clinton turned a blind eye to all of this during most of the 90's. In fact, he worsened the situation in 1995 by making the CRA even more lopsided and requiring even MORE bad loans. One thing he did was to force lending institutions to accept up to 31% of one's income for a mortgage whereas previously it was only 25%
FACT: The Democrats who run Fannie Mae took hundreds of millions in bonuses while Congressional Dems provided cover, including Charlie Rangel , Chris Dodd , Barack Obama and Joe Biden.
FACT: Democrat Chris Dodd was #1 recipient with Democrat Barack Obama being #2 in campaign contributions from Fannie Mae and Freddy Mac
FACT: The Democrats blocked every attempt by Republicans to investigate Fannie Mae and its business practices. In fact, the Bush Administration made over 30 attempts over his two terms in office only to have the Democrats block every one through parliamentary procedures as the Republicans, while controlling both Houses, NEVER had a super majority so the Dems could block anything they pleased (case in point - judicial nominees)
http://query.nytimes.com/gst/fullpag...gewanted=print
Quote:
September 11, 2003
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
Note the date
Quote:
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
http://www.bucksright.com/bush-propo...n-in-2003-1141
Quote:
A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.
Both entities were recently taken over by the government, a move that puts trillions of taxpayer dollars at risk.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
But Democrats in Congress, also known as “the caucus perpetually on the wrong side of history,” were having none of this “responsibility” stuff.
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.
The proposal worked its way around Congress for a couple of years. Efforts at reform of the kind proposed by President Bush were shot down by Democrats each time.
In 2005, Republican Mike Oxley, then chairman of the House Financial Services Committee, brought up a reform bill (H.R. 1461), and Fannie and Freddie’s lobbyists set out to weaken it.
[...]
During this period, Sen. Richard Shelby led a small group of legislators favoring reform, including fellow Republican Sens. John Sununu, Chuck Hagel and Elizabeth Dole. Meanwhile, [Democrat in bed with the mortgage industry Chris] Dodd — who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 — actively opposed such measures and further weakened existing regulation.
According to OpenSecrets.org, between 1988 and 2008 Dodd received $133,900, Kerry $111,000, Clinton $75,550, and Obama — in only 143 days in the Senate — received a whopping $105,849 from Fannie Mae and Freddie Mac.
Pennsylvania Democrat representative Paul Kanjorksi, who also opposed new Fannie Mae and Freddie Mac regulations, was given more than any other member of the House of Representatives. He was paid $65,500 by representatives of these entities.
And, in case you were wondering, John McCain co-sponsored a bill requiring greater Fannie Mae / Freddie Mac regulation in 2005. It was also blocked procedurally by Democrats.
The 2003 New York Times article was unearthed by a Free Republic poster.
UPDATE: 2004 video posted to YouTube shows Republicans arguing for, and Democrats arguing against, regulations that would have saved us from the current crisis.
http://www.bucksright.com/congressma...ge-crisis-1451
Quote:
Congressman Sorry Democrats Dropped Ball On Mortgage Crisis
Wed, Oct 1, 2008 at 10:55 am Posted by Steven in Economy
After being featured on Hannity & Colmes in a damning 2004 video showing Democrats fighting tooth-and-nail against greater Fannie Mae and Freddie Mac regulations, Democrat Congressman Artur Davis admits Democrats dropped the ball on reigning in the failed institutions and calls on fellow Democrats to do the same.
“Like a lot of my Democratic colleagues, I was too slow to appreciate the recklessness of Fannie Mae and Freddie Mac. I defended their efforts to encourage affordable homeownership, when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit that when it comes to Fannie and Freddie, we were wrong. By the way, I wish my Republican colleagues would admit that they missed the early warning signs that Wall Street deregulation was overheating the securities market and promoting dangerously lax lending practices. When it comes to the debacle in our capital markets, there is much blame to go around for both sides.”
Along with President Clinton, I take issue with Davis’ contention that equal blame exists on both sides. President Bush requested greater oversight in 2003, Republicans are clearly seen in the video fighting for greater oversight in 2004, and John McCain led the charge for greater oversight in 2005. All efforts were rebuffed by Democrats, who demagogued the issue with racial politics that made reform impossible to accomplish. At least they tried. I see no evidence of any push toward greater Fannie Mae / Freddie Mac oversight since the short bus rolled onto Capitol Hill in January 2007.
That said, I appreciate Congressman Davis’ candor in admitting Democrats let their ideology get in the way of what was right for the country.
And Bush killed his own GOP legislation right there in Congress. It was never intended to pass, only to give the GOP the appearance of of trying to make some reforms. When the bill finally passed in the House over the objections of the powerless Barney Frank, Bill "Slick Willie" Frist, the GOP MAJORITY leader in the Senate killed the bill by refusing to bring it up for a vote, sending it to committee to die, which it did.
The GOP killed their own reform bill because they wanted only the appearance of working for reform without ever doing any reform because they knew the dumb SUCKERS that vote for the GOP are too STUPID to know the difference between enacting reform and pretending to enact reform.
he GOP senate did NOT have enough votes to pass the bill, or didn't YOU watch the video stating such? So what Harry Reid in the Senate is now doing to all the HOUSE BILLS that have been passed but he won't let a vote on them, is basically the same thing you are saying?
In the meanwhile, GW claimed on his interview with 60 Minutes last year that his push to have every American own a home was a runaway success and still is.
Just how retarded is he?
