Revealed: Who Actually Caused America's Financial Collapse

[Mr. Shaman]

So what regulation(s) did Bush do away with that caused all our problems?

Please be specific. Because we all know that Clinton not Bush signed the Graham, Leach Bailey act into law.

oooooooooooooooooooooo.....another great distraction.

You're the only person who keeps mentioning Lil' Dumbya.

Move along, Skippy........​

So tell me in the last Presidential administration, what wonderful regulatory laws were repealed so as to lead us down the path of destruction

Surely you must have the entire list saved on your hard drive​

Don't play stupid.....you've already got that covered.

If you know anything about Gramm's legislation, you should know he couldn't get that passed on it's own merit!! NO ONE (in Congress) would SUPPORT IT!!!!

THAT'S why he buried it it, in the appropriations bill!!!!

​

 

[Skull Pilot]

oooooooooooooooooooooo.....another great distraction.

You're the only person who keeps mentioning Lil' Dumbya.

Move along, Skippy........​

So tell me in the last Presidential administration, what wonderful regulatory laws were repealed so as to lead us down the path of destruction

Surely you must have the entire list saved on your hard drive​

Don't play stupid.....you've already got that covered.

If you know anything about Gramm's legislation, you should know he couldn't get that passed on it's own merit!! NO ONE (in Congress) would SUPPORT IT!!!!

THAT'S why he buried it it, in the appropriations bill!!!!

​

The Beloved Slick Willy signed it into law

Tell me why would he do that if he cared about us​

 

[Avatar4321]

The financial collapse was caused by dishonest and corrupt politicians and businessmen, as well as dishonest people taking loans they couldnt or wouldn't pay back.

Your stupidity & bigotry are showing....just like Wall Street had planned.....
​

If you borrow money from a bank knowing that you can't repay it, how is that not dishonest? It's theft through deception.

How is it stupid or bigotted to be honest about that? Are you honestly trying to claim that "Wall Street" is forcing people to take loans so that they can lose money?

I can't believe that you honestly believe that. If you borrow money, you are responsible for paying it back.​

 

[whitehall]

Barney Frank said he did it. During his campaign he said he had "ideological blinders on" as House banking chairperson and let Fannie Mae collapse. Frank Raines is an Obama financial advisor. As CEO of Fannie it is alleged that he cooked the books to show a fake profit that was tied to his bonus money and walked away with 90 Million (taxpayer) dollars for three years work.

Gee.....how creative, of you!!

All of this.....without any (actual) details.

Details? Since you post a chopper I assume you are old enough to ride it shaman. Did you go thru school asking teachers ro do your homework. I'm not gonna do it either. GOOGLE BARNEY FRANK IDEOLOGICAL BLINDERS. GOOGLE FRANK RAINES COOKED THE BOOKS. Jeez, what a bunch.

 

[Mr. Shaman]

The financial collapse was caused by dishonest and corrupt politicians and businessmen, as well as dishonest people taking loans they couldnt or wouldn't pay back.

It was created this way...

Mortgage broker pushes a loan so he can make a commission (in the wrong, but not illegal)
Borrower lies on application about income seeing as he was told by the broker that it is a no income check loan (More in the wrong and illegal becuase he signed an affidavit swearing to the validity of the infomration)
Bank underwriter apporves loan (worng by the bank without checking income. but following rules set by the government to meet quotas)
Bank sells loan (wrong for not informing purchaser of loan that it was a no income check loan)
Barney Frank who is paid to make sure all of this doesnt happen, allows it to happen becuase he was too busy watching his pot plant grow.(wrong and should have been forced to resign)

Gee.....I guess you forgot to mention the credit-rating agencies.

There must be Blacks and/or Gays that work there, for you to blame!!

A (little) more knowledge would go a looooooooooooong way, to "cover-up" your bigotry & homophobia....

​

 

[Jarhead]

Hmmm..I disagree with the way Frank handled it so I am a homophobe.
I am disturbed at how Fannie Mae was run so I am a bigot racist.

Well, based on that...you must be an anti semite becuase you disagree with me...you fucking Nazi loving Jew hating asshole.

You truly are a pathetic poster on here Shaman

 

[Misty]

I blame government.

The root of most problems lie with government interference.

 

[Avorysuds]

Hmmm..I disagree with the way Frank handled it so I am a homophobe.
I am disturbed at how Fannie Mae was run so I am a bigot racist.

Well, based on that...you must be an anti semite becuase you disagree with me...you fucking Nazi loving Jew hating asshole.

You truly are a pathetic poster on here Shaman

That's why Shaman is the official board clown. When he posts I picture a little clown car pulling up with a bunch of big and small colorful clowns piling out, falling all over each other as if they had no idea what they were doing.

Shaman the Clown!

The best part is that most people don't even read his posts because, at least for me, it seems like opening his links might lead to a virus. All of his colorful font and different text sizes had the opposite effect on people’s desire to read his “posts”

 

[Charles_Main]

Robert J. Elisberg: Revealed: Who Actually Caused America's Financial Collapse


Yup, Americas teachers are the cause, you know, those teachers who raked it more money than the fucktards from those government bailed out companies who took millions in bonuses in the form of taxpayer money. America's public teachers took in more money than them.

Well, you can blame Barry boy for the AIG bonuses. Remember when Chris Dodd took flak for their bonuses included in a bill? One day he claimed he had no idea how the bonus language got into it, but the heat got so bad he was forced a day or two later to admit he did it on the advice of the White House.

But what's the big deal? Look at all the jobs the administration created with their nearly trillion dollars of bailouts. Thank God we had enough shovels ready to handle all the work, huh?

Blame Obama and not Bush with his bailouts? How about blaming the GOp for pushing for less regulation and oversight?

yeah why bother Blaming the Democrats who swore to us Fanny and Feddie were just fine.

 

[Wicked Jester]

The financial collapse was caused by dishonest and corrupt politicians and businessmen, as well as dishonest people taking loans they couldnt or wouldn't pay back.

It was created this way...

Mortgage broker pushes a loan so he can make a commission (in the wrong, but not illegal)
Borrower lies on application about income seeing as he was told by the broker that it is a no income check loan (More in the wrong and illegal becuase he signed an affidavit swearing to the validity of the infomration)
Bank underwriter apporves loan (worng by the bank without checking income. but following rules set by the government to meet quotas)
Bank sells loan (wrong for not informing purchaser of loan that it was a no income check loan)
Barney Frank who is paid to make sure all of this doesnt happen, allows it to happen becuase he was too busy watching his pot plant grow.(wrong and should have been forced to resign)

Gee.....I guess you forgot to mention the credit-rating agencies.

There must be Blacks and/or Gays that work there, for you to blame!!

A (little) more knowledge would go a looooooooooooong way, to "cover-up" your bigotry & homophobia....

​

Wow, you just continue to lose everytime you open your mouth.

Look, there comes a time when one must understand the consequenses of ones repeated desperate attempts at trying to nail JELLO to the wall.

The time for understanding in your case, should come now. That JELLO is ruining the wall, and seriously staining the carpet. I don't think momma's gonna be too happy with ruined walls and stained carpets in her basement.

 

[Flopper]

We can't accept the fact that no one person nor one group is responsible. It was the banks that loaned money to people that were not qualified to pay back the loans. It was Congress that encouraged banks to take on risky mortgages. It was regulatory agencies that regulated the wrong things. It was Wall Street for devising a method of packaging low quality loans so they could not be evaluated by the buyer. It was bond rating services that did not alert investors to poor quality debt instruments. It was CEOs that were more interested in next quarters results than the long term future of the company. It was investor out to make the big bucks without considering the risks and fund managers there to help them out. It was poor people buying homes they couldn't afford. And most of all, it was you and me who were quite happy to see things continue just as they were.

Now, in the aftermath we must have scapegoats. It reminds me of how the Chinese handled crop failures. They shot the farmers. Someone always has to be held responsible. We can't accept the fact that sometimes Shit Happens and everyone is partly responsible.

 

[shintao]

Well, you can blame Barry boy for the AIG bonuses. Remember when Chris Dodd took flak for their bonuses included in a bill? One day he claimed he had no idea how the bonus language got into it, but the heat got so bad he was forced a day or two later to admit he did it on the advice of the White House.

But what's the big deal? Look at all the jobs the administration created with their nearly trillion dollars of bailouts. Thank God we had enough shovels ready to handle all the work, huh?

Blame Obama and not Bush with his bailouts? How about blaming the GOp for pushing for less regulation and oversight?

tell me exactly what regulation Bush did away with that you think caused the financial fiasco.

here is a hint,there weren't any
The great Bush 'deregulation' myth :: Jeff Jacoby

[/QUOTE]

LMAO! Your author has weak shugar................

New Prosperity Initiative
April 11, 2000
“I propose a New Prosperity Initiative…A plan to
help remove obstacles on the road to the middle class…
Instead of helping people cope with their need, we will
help them to move beyond it. With the same energy and
activism that others have brought to expanding government,
we must expand opportunity.”
Governor George W. Bush

 

[Harry Dresden]

The best part is that most people don't even read his posts because, at least for me, it seems like opening his links might lead to a virus. All of his colorful font and different text sizes had the opposite effect on people’s desire to read his “posts”

and the guy is such a dick that even though he has been told that by a good number of people here.....he just keeps on doing it......for me i dont know or care what he posts.....he just appears to be just another insignificant FAR Leftist ....so no one is missing anything worthwhile....

 

[Flaylo]

Its funny that all the people that Repugs blame for the country's financial are never rich nor powerful, but always the working class people and the poor, as if those two groups of people hold any of the real power and wealth in America.

 

[JFK_USA]

The financial collapse was caused by dishonest and corrupt politicians and businessmen, as well as dishonest people taking loans they couldnt or wouldn't pay back.

No. Its all the EVIL TEACHERS!!! Stick with the program.

 

[Flaylo]

The financial collapse was caused by dishonest and corrupt politicians and businessmen, as well as dishonest people taking loans they couldnt or wouldn't pay back.

Your stupidity & bigotry are showing....just like Wall Street had planned.....
​

If you borrow money from a bank knowing that you can't repay it, how is that not dishonest? It's theft through deception.

How is it stupid or bigotted to be honest about that? Are you honestly trying to claim that "Wall Street" is forcing people to take loans so that they can lose money?

I can't believe that you honestly believe that. If you borrow money, you are responsible for paying it back.​

The blame goes to the bank you dumbass, you don't lend to people that can't pay back. Nobody forced banks to lend to people that couldn't pat back and not all people fit up underneath that category, so people lost their jobs and just couldn't pay it back, shit happens, but don't spread the lie that a bunch of dishonest people knowingly took on loans they had no intention of paying back. If they don't pay the loans back they fucked as far as their credit and their homes, so whats the benefit of being dishonest from the start?



And what about the ridiculously high subprime loans? Thats just ripping off. With subprime loans, banks got back what they lent and then some, they made money that shit, there is nothing you can say to justify that shit, they even gave and offered subprime loans to people who qualified for better loans, talk about being fucking dishonest.​

 

[Care4all]

We can't accept the fact that no one person nor one group is responsible. It was the banks that loaned money to people that were not qualified to pay back the loans. It was Congress that encouraged banks to take on risky mortgages. It was regulatory agencies that regulated the wrong things. It was Wall Street for devising a method of packaging low quality loans so they could not be evaluated by the buyer. It was bond rating services that did not alert investors to poor quality debt instruments. It was CEOs that were more interested in next quarters results than the long term future of the company. It was investor out to make the big bucks without considering the risks and fund managers there to help them out. It was poor people buying homes they couldn't afford. And most of all, it was you and me who were quite happy to see things continue just as they were.

Now, in the aftermath we must have scapegoats. It reminds me of how the Chinese handled crop failures. They shot the farmers. Someone always has to be held responsible. We can't accept the fact that sometimes Shit Happens and everyone is partly responsible.

with that long list, you covered a great deal of it...but there are still even more culprits involved.....

it was just one big Murphy's law...'What can go wrong, will go wrong.'

 

[theDoctorisIn]

Well, you can blame Barry boy for the AIG bonuses. Remember when Chris Dodd took flak for their bonuses included in a bill? One day he claimed he had no idea how the bonus language got into it, but the heat got so bad he was forced a day or two later to admit he did it on the advice of the White House.

But what's the big deal? Look at all the jobs the administration created with their nearly trillion dollars of bailouts. Thank God we had enough shovels ready to handle all the work, huh?

Blame Obama and not Bush with his bailouts? How about blaming the GOp for pushing for less regulation and oversight?

tell me exactly what regulation Bush did away with that you think caused the financial fiasco.

here is a hint,there weren't any

The great Bush 'deregulation' myth :: Jeff Jacoby

Bush's massive regulatory rollback is mostly urban legend. Far from throwing out the rulebook, the administration has expanded it: Since Bush became president, the Federal Register -- the government's annual compendium of proposed and finalized regulations -- has run to more than 74,000 pages every year but one. During the Clinton years, by contrast, the Federal Register reached that length just once.

Well, there was the Commodity Futures Modernization Act. Remember that one? The so-called "Enron Loophole"?

 

[Iowa10000]

Know whats sad?

anyone who doesn't have a million + in savings and doesn't make at least 250,000 a year in income and is not paid a bonus based on what he can make for his Boss, and says he thinks things are fair and getting better.

 

[konkon]

Greedy speculators that were allowed to over-inflate markets