Jeb Bush Blames GOP Congress, Not His Brother, For Bush-Era Spending

[Soggy in NOLA]

Well, considering Congress holds the purse strings....

 

[Soggy in NOLA]

The financial industry was making a killing by selling financial derivatives. Financial derivatives required people to keep borrowing money so the derivatives could be built and sold so fees could be made for packaging everything.

If people stopped borrowing money, the whole game would stop. So Wall Street had to keep finding more and more creative ways to get people to borrow money.

After all the good credit borrowers were hocked to the fucking hilt, Wall Street went after borrowers with weak credit, and then borrowers with shitty credit. And they had the government remove the barriers between them and those borrowers.

What's more, they got a borrower who might be a good credit risk for a $200,000 loan to borrow $500,000 instead. And then they got the dumb son of a bitch to take out a Home Equity Line of Credit to buy a boat or an SUV or a Disney vacation or a motorcycle.

It wasn't the government forcing the banks to lend. It was the exact opposite. The banks were paying our politicians to remove all the old barriers which had been built to prevent them from going hog wild and stupid. That's why you see Bush in 2004 greasing the skids for Wall Street to make more high risk loans.

And he wasn't trying to scale back the GSEs portfolios to protect America. He was trying to shrink their market share so more of it could go to Wall Street so Wall Street could make more profits. At the same time Bush was trying to hogtie the GSEs, he was granting the five biggest Wall Street broker-dealers capital reserve exemptions. Lehman Brothers, et al. A decision that can be directly linked to their collapse.

Only someone who is completely ignorant could possibly believe the banks were being forced to make those toxic loans.

And there you have it, the classic response of the left.... "it's Bush's fault".

What utter bullshit... that mess was a perfect storm of many origins which included, but not limited to -

- Affordable home ownership goals
- Aggressive lending
- Unsustainable home appreciation
- Over aggressive home building
- Low interest rates
- Zero down financing
- ARM's
- Faulty appraisals
- Over reliance on credit scores
- Fannie Mae and Freddie Mac

But hey, keep telling yourselves it's all Bush's fault...

 

[g5000]

The financial industry was making a killing by selling financial derivatives. Financial derivatives required people to keep borrowing money so the derivatives could be built and sold so fees could be made for packaging everything.

If people stopped borrowing money, the whole game would stop. So Wall Street had to keep finding more and more creative ways to get people to borrow money.

After all the good credit borrowers were hocked to the fucking hilt, Wall Street went after borrowers with weak credit, and then borrowers with shitty credit. And they had the government remove the barriers between them and those borrowers.

What's more, they got a borrower who might be a good credit risk for a $200,000 loan to borrow $500,000 instead. And then they got the dumb son of a bitch to take out a Home Equity Line of Credit to buy a boat or an SUV or a Disney vacation or a motorcycle.

It wasn't the government forcing the banks to lend. It was the exact opposite. The banks were paying our politicians to remove all the old barriers which had been built to prevent them from going hog wild and stupid. That's why you see Bush in 2004 greasing the skids for Wall Street to make more high risk loans.

And he wasn't trying to scale back the GSEs portfolios to protect America. He was trying to shrink their market share so more of it could go to Wall Street so Wall Street could make more profits. At the same time Bush was trying to hogtie the GSEs, he was granting the five biggest Wall Street broker-dealers capital reserve exemptions. Lehman Brothers, et al. A decision that can be directly linked to their collapse.

Only someone who is completely ignorant could possibly believe the banks were being forced to make those toxic loans.

And there you have it, the classic response of the left.... "it's Bush's fault".

What utter bullshit... that mess was a perfect storm of many origins which included, but not limited to -

- Affordable home ownership goals
- Aggressive lending
- Unsustainable home appreciation
- Over aggressive home building
- Low interest rates
- Zero down financing
- ARM's
- Faulty appraisals
- Over reliance on credit scores
- Fannie Mae and Freddie Mac

But hey, keep telling yourselves it's all Bush's fault...

You are hallucinating. I have never said it was all Bush's fault. I am merely disillusioning the credulous retards who have been brainwashed into thinking it had a great deal to do with the CRA and NOTHING to do with Bush.

Stop smoking crack.

 

[Claudette]

Sooo, ole Jeb is trying to take the heat off his retarded brother by blaming the GOP Congress. Only the dumbest of the dumb will buy that.

Why should he take heat off his Brother?? Dumbass. In case you haven't noticed Bush hasn't been POTUS for seven years and I doubt Bush gives a shit what you and people like you think.

Shittingbull. Fits you to a fucking tee.

 

[Soggy in NOLA]

The financial industry was making a killing by selling financial derivatives. Financial derivatives required people to keep borrowing money so the derivatives could be built and sold so fees could be made for packaging everything.

If people stopped borrowing money, the whole game would stop. So Wall Street had to keep finding more and more creative ways to get people to borrow money.

After all the good credit borrowers were hocked to the fucking hilt, Wall Street went after borrowers with weak credit, and then borrowers with shitty credit. And they had the government remove the barriers between them and those borrowers.

What's more, they got a borrower who might be a good credit risk for a $200,000 loan to borrow $500,000 instead. And then they got the dumb son of a bitch to take out a Home Equity Line of Credit to buy a boat or an SUV or a Disney vacation or a motorcycle.

It wasn't the government forcing the banks to lend. It was the exact opposite. The banks were paying our politicians to remove all the old barriers which had been built to prevent them from going hog wild and stupid. That's why you see Bush in 2004 greasing the skids for Wall Street to make more high risk loans.

And he wasn't trying to scale back the GSEs portfolios to protect America. He was trying to shrink their market share so more of it could go to Wall Street so Wall Street could make more profits. At the same time Bush was trying to hogtie the GSEs, he was granting the five biggest Wall Street broker-dealers capital reserve exemptions. Lehman Brothers, et al. A decision that can be directly linked to their collapse.

Only someone who is completely ignorant could possibly believe the banks were being forced to make those toxic loans.

And there you have it, the classic response of the left.... "it's Bush's fault".

What utter bullshit... that mess was a perfect storm of many origins which included, but not limited to -

- Affordable home ownership goals
- Aggressive lending
- Unsustainable home appreciation
- Over aggressive home building
- Low interest rates
- Zero down financing
- ARM's
- Faulty appraisals
- Over reliance on credit scores
- Fannie Mae and Freddie Mac

But hey, keep telling yourselves it's all Bush's fault...

You are hallucinating. I have never said it was all Bush's fault. I am merely disillusioning the credulous retards who have been brainwashed into thinking it had a great deal to do with the CRA and NOTHING to do with Bush.

Stop smoking crack.

Boooooosssssssssssshhhhhhhhhhhhhh............

 

[edthecynic]

Except the Right blames Carter (CRA) 25 years earlier for Bush bursting the housing bubble and then bitch that Bush is blamed for what he is actually responsible for.

Carter started it, Clinton gave it legs, and Bush warned congress about it in 2006. Frank told Bush he was crazy.

There you go, proving my point, blaming a president who was gone for 25 years, another president gone for 7 years, and a powerless minority congressman for Bush's failure while bitching that Bush is being blamed 6 years after he is gone.

I didn't blame Carter, I said he started it. Clinton thought that everyone should be able to own a home. Even if they couldn't afford it. Bush warned about the housing bubble bust. It was liberals that said he was crazy. The bust actually happened when democrats ran both houses. I do blame Bush for not trying harder to stop it. So I'm not putting all the blame on democrats, like Obama is putting all the blame on Bush. For his failures.

That was Bush, not Clinton, as you well know. It was Bush, not Clinton, who made no doen payment loans to borrowers with bad credit!

USATODAY.com - Bush seeks to increase minority homeownership

By Thomas A. Fogarty, USA TODAY

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.

Okay so Clinton had nothing to do with it? Bush had all the compassion for the poor? Is that what you are saying? This was to give poor people a chance at home ownership. So Clinton didn't care for the poor? Oh well at least you are starting to show liberal true colors. Lol, I remember the times, I bought my home in 1997, and everybody was buying homes because of the lax loan qualifications. Okay we will blame Bush for something that was happening in the 90's. I mean you still blame bush 6 and a half years later for Obama's failures.

So now all of a sudden Bush making loans to those who can't afford to pay them back is "compassion for the poor."

 

[jknowgood]

Carter started it, Clinton gave it legs, and Bush warned congress about it in 2006. Frank told Bush he was crazy.

There you go, proving my point, blaming a president who was gone for 25 years, another president gone for 7 years, and a powerless minority congressman for Bush's failure while bitching that Bush is being blamed 6 years after he is gone.

I didn't blame Carter, I said he started it. Clinton thought that everyone should be able to own a home. Even if they couldn't afford it. Bush warned about the housing bubble bust. It was liberals that said he was crazy. The bust actually happened when democrats ran both houses. I do blame Bush for not trying harder to stop it. So I'm not putting all the blame on democrats, like Obama is putting all the blame on Bush. For his failures.

That was Bush, not Clinton, as you well know. It was Bush, not Clinton, who made no doen payment loans to borrowers with bad credit!

USATODAY.com - Bush seeks to increase minority homeownership

By Thomas A. Fogarty, USA TODAY

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.

Okay so Clinton had nothing to do with it? Bush had all the compassion for the poor? Is that what you are saying? This was to give poor people a chance at home ownership. So Clinton didn't care for the poor? Oh well at least you are starting to show liberal true colors. Lol, I remember the times, I bought my home in 1997, and everybody was buying homes because of the lax loan qualifications. Okay we will blame Bush for something that was happening in the 90's. I mean you still blame bush 6 and a half years later for Obama's failures.

So now all of a sudden Bush making loans to those who can't afford to pay them back is "compassion for the poor."

Nope that's what liberals were saying in the 90's, everyone deserved to own a home. It wasn't fair people who were poor and with no credit couldn't own a home. Since you state that didn't happen, Bush gets the credit, and Clinton gets the credit for poor people living in slums.

 

[edthecynic]

There you go, proving my point, blaming a president who was gone for 25 years, another president gone for 7 years, and a powerless minority congressman for Bush's failure while bitching that Bush is being blamed 6 years after he is gone.

I didn't blame Carter, I said he started it. Clinton thought that everyone should be able to own a home. Even if they couldn't afford it. Bush warned about the housing bubble bust. It was liberals that said he was crazy. The bust actually happened when democrats ran both houses. I do blame Bush for not trying harder to stop it. So I'm not putting all the blame on democrats, like Obama is putting all the blame on Bush. For his failures.

That was Bush, not Clinton, as you well know. It was Bush, not Clinton, who made no doen payment loans to borrowers with bad credit!

USATODAY.com - Bush seeks to increase minority homeownership

By Thomas A. Fogarty, USA TODAY

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.

Okay so Clinton had nothing to do with it? Bush had all the compassion for the poor? Is that what you are saying? This was to give poor people a chance at home ownership. So Clinton didn't care for the poor? Oh well at least you are starting to show liberal true colors. Lol, I remember the times, I bought my home in 1997, and everybody was buying homes because of the lax loan qualifications. Okay we will blame Bush for something that was happening in the 90's. I mean you still blame bush 6 and a half years later for Obama's failures.

So now all of a sudden Bush making loans to those who can't afford to pay them back is "compassion for the poor."

Nope that's what liberals were saying in the 90's, everyone deserved to own a home. It wasn't fair people who were poor and with no credit couldn't own a home. Since you state that didn't happen, Bush gets the credit, and Clinton gets the credit for poor people living in slums.

Liberals said no such thing. That is a lie your MessiahRushie planted in your skull full of mush and you are powerless to keep from parroting it in a public forum.

 

[g5000]

The financial industry was making a killing by selling financial derivatives. Financial derivatives required people to keep borrowing money so the derivatives could be built and sold so fees could be made for packaging everything.

If people stopped borrowing money, the whole game would stop. So Wall Street had to keep finding more and more creative ways to get people to borrow money.

After all the good credit borrowers were hocked to the fucking hilt, Wall Street went after borrowers with weak credit, and then borrowers with shitty credit. And they had the government remove the barriers between them and those borrowers.

What's more, they got a borrower who might be a good credit risk for a $200,000 loan to borrow $500,000 instead. And then they got the dumb son of a bitch to take out a Home Equity Line of Credit to buy a boat or an SUV or a Disney vacation or a motorcycle.

It wasn't the government forcing the banks to lend. It was the exact opposite. The banks were paying our politicians to remove all the old barriers which had been built to prevent them from going hog wild and stupid. That's why you see Bush in 2004 greasing the skids for Wall Street to make more high risk loans.

And he wasn't trying to scale back the GSEs portfolios to protect America. He was trying to shrink their market share so more of it could go to Wall Street so Wall Street could make more profits. At the same time Bush was trying to hogtie the GSEs, he was granting the five biggest Wall Street broker-dealers capital reserve exemptions. Lehman Brothers, et al. A decision that can be directly linked to their collapse.

Only someone who is completely ignorant could possibly believe the banks were being forced to make those toxic loans.

And there you have it, the classic response of the left.... "it's Bush's fault".

What utter bullshit... that mess was a perfect storm of many origins which included, but not limited to -

- Affordable home ownership goals
- Aggressive lending
- Unsustainable home appreciation
- Over aggressive home building
- Low interest rates
- Zero down financing
- ARM's
- Faulty appraisals
- Over reliance on credit scores
- Fannie Mae and Freddie Mac

But hey, keep telling yourselves it's all Bush's fault...

You are hallucinating. I have never said it was all Bush's fault. I am merely disillusioning the credulous retards who have been brainwashed into thinking it had a great deal to do with the CRA and NOTHING to do with Bush.

Stop smoking crack.

Boooooosssssssssssshhhhhhhhhhhhhh............

You're in a topic about Bush, dipshit.

I knew once you tards had been trounced, one of you would haul out the old Booooooosssssshhh deflection when you had nothing left. But it doesn't work in a topic that is actually about Bush.

 

[boilermaker55]

Its calling a hypocrite a hypocrite and then knowing the meaning. It seems to escape your thought processing abilities.

What is it with the left? They want big federal spending but they whine when it happens during a republican administration. Read the freaking Constitution. Congress signs the checks not the president.

 

[ClosedCaption]

So planning of 911 didn't happen under Clinton?

So there was no more planning the day Bush was sworn in?

• Didn't say that, but liberals still want to blame Bush for Obama being a failure six and as half years in. But don't put any blame on Clinton eight months into Bush's term.u

Except the Right blames Carter (CRA) 25 years earlier for Bush bursting the housing bubble and then bitch that Bush is blamed for what he is actually responsible for.

Carter started it, Clinton gave it legs, and Bush warned congress about it in 2006. Frank told Bush he was crazy.

There you go, proving my point, blaming a president who was gone for 25 years, another president gone for 7 years, and a powerless minority congressman for Bush's failure while bitching that Bush is being blamed 6 years after he is gone.

Thems the rules round here.

Scream about Jimmy Carter then scream it's been too long when Bush is brought up

 

[Lakhota]

Let Jeb keep on defending his actions.

 

[Lakhota]

Shame on Jeb.

 

[conserveguy877]

Voters have moved on with Bush family in politics. I guess Jeb is going to need to learn the hard way..

 

[Synthaholic]

Former Florida Gov. Jeb Bush (R) suggested in an interview Sunday that the crux of responsibility for out-of-control spending in Washington during the 2000’s was in the hands of the Republican-controlled Congress, rather than his brother’s initiatives as president.

He's got a point. The House controls spending. But Bush pushed that spending by committing troops to a battlefield.

 

[mikegriffith1]

Uh, Obama has shattered "Bush's" spending levels and has piled up nearly double the amount of debt that "Bush" did.

Jeb does in fact have a point, especially after the Dems took control of Congress in 2007 and jacked up spending by huge amounts. In fact, Bush was going to veto nine of the 12 FY2009 spending bills, but the Democrats stalled them so that Obama could sign them. That's why we ended up with the odd situation where the incoming president signed nine of the 12 spending bills for his predecessor's last fiscal year. Normally, the outgoing president would sign the spending bills that would begin in October of his last year, but since Bush had threatened to veto them because they were excessive, the Democrats stalled nine of the 12 so that Obama could sign them (see The Truth about President Obama's Skyrocketing Spending ).

That said, Bush was too easy on the GOP-controlled Congress. He should have at least greatly slowed down spending increases by threatening to use his veto pen or by using it if the threat didn't work. But he did neither. He did complain about the spending, but not very loudly, and he ended up signing off on large spending increases.

 

[hangover]

Former Florida Gov. Jeb Bush (R) suggested in an interview Sunday that the crux of responsibility for out-of-control spending in Washington during the 2000’s was in the hands of the Republican-controlled Congress, rather than his brother’s initiatives as president.

He's got a point. The House controls spending. But Bush pushed that spending by committing troops to a battlefield.

Congress controls spending, but it's the POTUS that submits the budget to the congress. The republican congress just went along with his budgets.
Raygun promised to balance the budget in his first four years as POTUS, but never submitted one single balanced budget in eight years. All of his budgets were over $200 billion every year. A democrat congress went along.

 

[Synthaholic]

Uh, Obama has shattered "Bush's" spending levels and has piled up nearly double the amount of debt that "Bush" did.

Jeb does in fact have a point, especially after the Dems took control of Congress in 2007 and jacked up spending by huge amounts. In fact, Bush was going to veto nine of the 12 FY2009 spending bills, but the Democrats stalled them so that Obama could sign them. That's why we ended up with the odd situation where the incoming president signed nine of the 12 spending bills for his predecessor's last fiscal year. Normally, the outgoing president would sign the spending bills that would begin in October of his last year, but since Bush had threatened to veto them because they were excessive, the Democrats stalled nine of the 12 so that Obama could sign them (see The Truth about President Obama's Skyrocketing Spending ).

That said, Bush was too easy on the GOP-controlled Congress. He should have at least greatly slowed down spending increases by threatening to use his veto pen or by using it if the threat didn't work. But he did neither. He did complain about the spending, but not very loudly, and he ended up signing off on large spending increases.

You're such a transparent liar. Pathetic.