Republicans Own Detroit Bankruptcy

[TemplarKormac]

Why do you act like a retard who can't read?

I said in the OP:

Two years into Obama's presidency, Right-wingers were saying it was now Obama's economy.

This means that two years into Rick Snyder's governorship, it is now his bankruptcy of Detroit.


​

Do you now admit that it was not Obama's Economy?

Do you admit now that you are deflecting? Detroit has not had a Republican mayor since 1962. Since then it has gradually deteriorated into what you see today.

So? Michigan has a Republican governor and a Republican state legislature. This is happening on their watch.

You don't want to accept that? You should have thought of that when you doing everything you could to put the blame for the US recession on the Democrats taking Congress in 2006.

This is your own argument come back to bite you in your fat ass.

Oh boy, another liberal meltdown. What could Bush do for Liberals constantly standing in his way? What you fail to recognize is that Bush saw the housing crisis coming and introduced legislation to create a committee to reign Fannie and Freddie in. Democrats rejected it. Some of the main figures and obstructs to this were none other than Hillary, Barney Frank, Harry Reid, Nancy Pelosi, Barack Obama; among other liberals. There was a Democratic Governor (I believe her name was Jennifer Granholm) in Michigan from 2003 to 2011. It takes a while to undo the damage. Tell me where I've heard this line before.

As compared to New York, Michigan is only $77 billion in debt. Detroit's debt was literally 1/8th of the state's entire debt total. So, what does that have to do with anything? If a colossal failure happens, by default you blame it on the other side. Detroit had 51 years to change it's ways. You sat there ignoring reality. Oh yeah, it's gonna hit you New Yorkers harder than it hit Detroit.

Tell Andrew Cuomo and Mayor Blooming idiot hello for me. Your argument is nothing but a tantrum. Come at me bro!

 

[TemplarKormac]

Okay, so you have 1 major city in the US, with a history of Democratic governments,

in bankruptcy.

And none of the rest of the cities run by Democrats are in bankruptcy?

So, that would mean that about 99% of the American cities run by Democrats are not bankrupt.

Where in the world is a 99% success rate a bad thing?

Where in the world is there a fact to support that fact? Sure a hell ain't no "99%" success rate. Not when you have a President who has added $6 trillion in new debt to the economy.

lol, now you're blaming OBAMA for Detroit's bankruptcy?

Right after you declared Michigan's state government blameless?

Perfect!!!

Hey, it's trickle down economics buddy! Perfect, another fail.

 

[TemplarKormac]

Hey synth, the manager is changing pitchers

Sorry Bro

Riddle me this

How much authority does the Governor of Michigan have to print money?

Oh baby, Pops just hit that one out of the ball park!

For a first time on the mound it was a valiant effort!

The Governor has the authority to bypass the elected representatives in Michigan cities and put his own handpicked unelected managers in charge, and he's been using it.

He wanted control of the problems, he got it. Now they're in his lap.

Hey, so instead of pinning this on the mayor, who is just as responsible for running the city as Snyder is running the State of Michigan, you blame it on Republicans. Perfect.

When no argument, insert pithy retort here.

 

[TemplarKormac]

Carbine? Synth?

Only hours removed from a vacation, and dog tired, I still find the time to whip two rabid liberals. You guys should be embarrassed. Don't bother typing a reply.

 

[Avatar4321]

Do you admit now that you are deflecting? Detroit has not had a Republican mayor since 1962. Since then it has gradually deteriorated into what you see today.

So? Michigan has a Republican governor and a Republican state legislature. This is happening on their watch.

You don't want to accept that? You should have thought of that when you doing everything you could to put the blame for the US recession on the Democrats taking Congress in 2006.

This is your own argument come back to bite you in your fat ass.

What is with you? Detroit has been ran into the ground by stupid leftist liberals that's a fact

He cant admit the truth. it threatens his world view.

 

[antiquity]

Two years into Obama's presidency, Right-wingers were saying it was now Obama's economy.

This means that two years into Rick Snyder's governorship, it is now his bankruptcy of Detroit.

The difference? Republican Rick Snyder has had a complete Republican majority in the State House and Senate, with no one to obstruct a thing.

You cannot possibly be this stupid

Explain, please.

Let me try,
One: Promised public union benefits to get union support for liberal candidates.
Two: Crime that drove the population of Detroit out....from 1.8 million in 1950 to 700K+ today.
Three: Gangs and drugs.
Four: Over twice the national average in unemployment at 16.7. 40% for black youth and when the population of Detroit is 73% black and the unwed birth rate at around 70% that is a lot of unemployed, unsupervised kids roaming the the streets.
Five: A 58 minute wait for police response compared to 11 minutes national average.
Six: 40% of city street lights don't work.
Seven: 78% of building abandoned mostly due to a high property tax.

 

[NYcarbineer]

Do you admit now that you are deflecting? Detroit has not had a Republican mayor since 1962. Since then it has gradually deteriorated into what you see today.

So? Michigan has a Republican governor and a Republican state legislature. This is happening on their watch.

You don't want to accept that? You should have thought of that when you doing everything you could to put the blame for the US recession on the Democrats taking Congress in 2006.

This is your own argument come back to bite you in your fat ass.

Oh boy, another liberal meltdown. What could Bush do for Liberals constantly standing in his way? What you fail to recognize is that Bush saw the housing crisis coming and introduced legislation to create a committee to reign Fannie and Freddie in. Democrats rejected it. Some of the main figures and obstructs to this were none other than Hillary, Barney Frank, Harry Reid, Nancy Pelosi, Barack Obama; among other liberals.

!

You need to turn off the radio or whatever it is that is making you stupid.

Let's look at the facts:

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[16]

While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized.

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

And for the record, in 2003 Republicans held the Presidency, the Senate, and the House, as well as majorities on the committees, such as the Banking Committee above,

which killed the DEMOCRAT Corzine's reform bill.

So enough with your propaganda.

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

 

[Locke11_21]

Two years into Obama's presidency, Right-wingers were saying it was now Obama's economy.

While I see exactly what your are trying to do with this thread, your attempt to prove a point is weak at best.

This means that two years into Rick Snyder's governorship, it is now his bankruptcy of Detroit.

The difference? Republican Rick Snyder has had a complete Republican majority in the State House and Senate, with no one to obstruct a thing.

You are aware that Obama had a Democrat majority in the House and Senate his first two years in office??? You know, those Democrats who in one year increased our debt by $3 trillion.....which almost matched the $3.4 trillion Bush and Republicans gave America in 6 years.

Detroit is a perfect example of 50+ years of Democrat corruption and idiocy, as well us union greed. Detroit serves as a perfect example of what happens when Democrats and unions go unchallenged and have free reign.

Unfortunately, Obama and progressives, notice I said progressives...because both the Democrat Party and Republican Party are full of them....they are putting forth a team effort to turn America into Detroit.

Orange County CA went bankrupt in 1995 under Republican rule. So shut up you moron.

Orange County's bankruptcy can be blamed on Democrats. Robert Citron, a Democrat, was Orange County Treasurer for 24 years. About two or three years before the bankruptcy, Citron embarked on an investment strategy that very few people in the county were aware of and even fewer understood. In charge of the Orange County Investment Pool, he had, by 1994, about $7.6 billion in deposits in the pool from the county. government and almost 200 local public agencies (Orange County cities, school districts, and special districts). Some of these agencies (e.g., schools) were required to invest their funds in the County Investment Pool. Many others voluntarily joined, attracted by the high interest rates Citron realized and aggressively advertised. His strategy was to use the funds on deposit to borrow money to invest in derivatives, inverse floaters, and long term bonds that paid high yields. He then borrowed more money, with the borrowed money as collateral.

Citron took more risks. The size of the pool increased to $20.6 billion in 1994, as he borrowed $2 for every $1 on deposit and investing the dollars in exotic securities whose yields were inversely related to interest rates. Unfortunately, also in 1994, the Federal Reserve Board began and kept on raising interest rates and Citron kept buying securities in the desperate belief that what went up must come down, and continued to bet on lower interest rates, borrowing $600 million more and buying throughout the summer. A year earlier, he was warned about the potential danger the high-risk securities posed and one firm even offered to buy back some of the riskier ones.

After the Democrat treasurer sent Orange County into bankruptcy, it was a Democrat controlled California legislature that refused to bail out Orange County due to another Democrats idiocy.

 

[antiquity]

This just shows how dishonest you really are: you know goddamn well they were talking about the auto industry, not the city.

Yeah.. only the main industry of the city.. and supposedly 'saving' that industry (which he did not do) was supposedly to be the boom for Detroit... the ONLY ones that benefited from the 'bailout' was the UAW echelon..

The big government spending and even bigger government intervention is what put places like DET in trouble;e.. and the same practices are what have us in trouble on a national level as well.. and we are getting worse

Are you saying that the auto industry recovery was not a boom for Detroit?

Not sure if any thing has been a boom for Detroit, if it was they wouldn't have filed for bank rupture. But I do know that the auto bail out was not a boom for the country considering the lost models that were discontinued, the hundreds of auto dealers and supporting companies around the country that went bust.
R

 

[NYcarbineer]

Hey synth, the manager is changing pitchers

Sorry Bro

Riddle me this

How much authority does the Governor of Michigan have to print money?

Oh baby, Pops just hit that one out of the ball park!

For a first time on the mound it was a valiant effort!

The Governor has the authority to bypass the elected representatives in Michigan cities and put his own handpicked unelected managers in charge, and he's been using it.

He wanted control of the problems, he got it. Now they're in his lap.

Hey, so instead of pinning this on the mayor, who is just as responsible for running the city as Snyder is running the State of Michigan, you blame it on Republicans. Perfect.

When no argument, insert pithy retort here.

You're trying to blame it on Obama.

 

[Avatar4321]

The Governor has the authority to bypass the elected representatives in Michigan cities and put his own handpicked unelected managers in charge, and he's been using it.

He wanted control of the problems, he got it. Now they're in his lap.

Hey, so instead of pinning this on the mayor, who is just as responsible for running the city as Snyder is running the State of Michigan, you blame it on Republicans. Perfect.

When no argument, insert pithy retort here.

You're trying to blame it on Obama.

How is blaming those who run Detriot an attempt to blame Obama?

 

[NYcarbineer]

So? Michigan has a Republican governor and a Republican state legislature. This is happening on their watch.

You don't want to accept that? You should have thought of that when you doing everything you could to put the blame for the US recession on the Democrats taking Congress in 2006.

This is your own argument come back to bite you in your fat ass.

What is with you? Detroit has been ran into the ground by stupid leftist liberals that's a fact

He cant admit the truth. it threatens his world view.

Do you accept the fact that Republican policies ran Orange County into bankruptcy in 1995?

Do you conclude from that that Republicans don't know how to run municipalities?

 

[Avatar4321]

Two years into Obama's presidency, Right-wingers were saying it was now Obama's economy.

This means that two years into Rick Snyder's governorship, it is now his bankruptcy of Detroit.

The difference? Republican Rick Snyder has had a complete Republican majority in the State House and Senate, with no one to obstruct a thing.

You cannot possibly be this stupid

Explain, please.

I was giving you the benefit of the doubt. I guess I was wrong.

When Democrats have governed the city for 50+ years, you can't seriously argue it's the Republican's fault that the city is screwed up.

 

[Avatar4321]

What is with you? Detroit has been ran into the ground by stupid leftist liberals that's a fact

He cant admit the truth. it threatens his world view.

Do you accept the fact that Republican policies ran Orange County into bankruptcy in 1995?

Do you conclude from that that Republicans don't know how to run municipalities?

Completely irrelevant to Detriot, but I wouldn't be surprised if it's true.

Do you honestly think that somehow excused Democrats from this mess?

 

[TemplarKormac]

So? Michigan has a Republican governor and a Republican state legislature. This is happening on their watch.

You don't want to accept that? You should have thought of that when you doing everything you could to put the blame for the US recession on the Democrats taking Congress in 2006.

This is your own argument come back to bite you in your fat ass.

Oh boy, another liberal meltdown. What could Bush do for Liberals constantly standing in his way? What you fail to recognize is that Bush saw the housing crisis coming and introduced legislation to create a committee to reign Fannie and Freddie in. Democrats rejected it. Some of the main figures and obstructs to this were none other than Hillary, Barney Frank, Harry Reid, Nancy Pelosi, Barack Obama; among other liberals.

!

You need to turn off the radio or whatever it is that is making you stupid.

Let's look at the facts:

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[16]

While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized.

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

And for the record, in 2003 Republicans held the Presidency, the Senate, and the House, as well as majorities on the committees, such as the Banking Committee above,

which killed the DEMOCRAT Corzine's reform bill.

So enough with your propaganda.

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Sorry.

McCain?s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can?t get AIG right « Hot Air

 

[NYcarbineer]

Hey, so instead of pinning this on the mayor, who is just as responsible for running the city as Snyder is running the State of Michigan, you blame it on Republicans. Perfect.

When no argument, insert pithy retort here.

You're trying to blame it on Obama.

How is blaming those who run Detriot an attempt to blame Obama?

Read his posts. Are you willing to say that president Obama is blameless in the Detroit bankruptcy?

Then say it.

 

[TemplarKormac]

So? Michigan has a Republican governor and a Republican state legislature. This is happening on their watch.

You don't want to accept that? You should have thought of that when you doing everything you could to put the blame for the US recession on the Democrats taking Congress in 2006.

This is your own argument come back to bite you in your fat ass.

Oh boy, another liberal meltdown. What could Bush do for Liberals constantly standing in his way? What you fail to recognize is that Bush saw the housing crisis coming and introduced legislation to create a committee to reign Fannie and Freddie in. Democrats rejected it. Some of the main figures and obstructs to this were none other than Hillary, Barney Frank, Harry Reid, Nancy Pelosi, Barack Obama; among other liberals.

!

You need to turn off the radio or whatever it is that is making you stupid.

Let's look at the facts:

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[16]

While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized.

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

And for the record, in 2003 Republicans held the Presidency, the Senate, and the House, as well as majorities on the committees, such as the Banking Committee above,

which killed the DEMOCRAT Corzine's reform bill.

So enough with your propaganda.

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Oops, sorry again!

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.

New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com

 

[NYcarbineer]

Oh boy, another liberal meltdown. What could Bush do for Liberals constantly standing in his way? What you fail to recognize is that Bush saw the housing crisis coming and introduced legislation to create a committee to reign Fannie and Freddie in. Democrats rejected it. Some of the main figures and obstructs to this were none other than Hillary, Barney Frank, Harry Reid, Nancy Pelosi, Barack Obama; among other liberals.

!

You need to turn off the radio or whatever it is that is making you stupid.

Let's look at the facts:

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[16]

While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized.

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

And for the record, in 2003 Republicans held the Presidency, the Senate, and the House, as well as majorities on the committees, such as the Banking Committee above,

which killed the DEMOCRAT Corzine's reform bill.

So enough with your propaganda.

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Sorry.

McCain?s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can?t get AIG right « Hot Air

Whatever your stupid link says, which I'm not reading, the Republicans were still in control in 2005.

What I do find funny though is that you are admitting that lack of federal government regulation is what caused the economic crises of back then.

lol, you're learning.

 

[TemplarKormac]

You're trying to blame it on Obama.

How is blaming those who run Detriot an attempt to blame Obama?

Read his posts. Are you willing to say that president Obama is blameless in the Detroit bankruptcy?

Then say it.

He is no knight in shining armor. Same policies, same results. There are 3.3 million Food Stamp recipients in your state, 50 million+ nationwide. One country in debt, one city in debt. Same policies, same results.

If you have no argument, then just say it.

 

[NYcarbineer]

Oh boy, another liberal meltdown. What could Bush do for Liberals constantly standing in his way? What you fail to recognize is that Bush saw the housing crisis coming and introduced legislation to create a committee to reign Fannie and Freddie in. Democrats rejected it. Some of the main figures and obstructs to this were none other than Hillary, Barney Frank, Harry Reid, Nancy Pelosi, Barack Obama; among other liberals.

!

You need to turn off the radio or whatever it is that is making you stupid.

Let's look at the facts:

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[16]

While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized.

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

And for the record, in 2003 Republicans held the Presidency, the Senate, and the House, as well as majorities on the committees, such as the Banking Committee above,

which killed the DEMOCRAT Corzine's reform bill.

So enough with your propaganda.

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Oops, sorry again!

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.

New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com

That's the same one you moron. The one that the Republican controlled legislature never did anything with.