JonKoch
VIP Member
- May 14, 2017
- 1,779
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Unsustainable bubbles are cool!
So then why is it that Conservatives are the ones who give us those bubbles? Dotcom bubble in 2000 thanks to the Capital Gains Tax Cut of 1997, Mortgage bubble in 2004-7 thanks to Bush deregulating the mortgage industry and his tax cuts.
So then why is it that Conservatives are the ones who give us those bubbles?
Bubbles have always happened and will always happen.
The one that is currently expanding in China is an ugly one.
I'd stand back if I were you.
As far as the recent bubbles, if the Internet bubble had popped a couple years earlier, we wouldn't have to hear about Clinton's awesome "surplus" and if the RE bubble had popped a couple of years later, Obama would have been a one term failure instead of a two term failure.
Mortgage bubble in 2004-7 thanks to Bush deregulating the mortgage industry
You'll have to tell me more about this claim.
Do you feel that pushing banks, Fannie and Freddie to vastly expand lending to poorer people is an example of deregulation?
You'll stick to your lies huh Buttercup?
Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank’s capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets (GSE'S BUY FROM BANKSTERS BUBBA)
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
WEIRD HOW THE CLOSEST THE US HAS COME TO "FREE MARKETS" DON'T NEED REGULATORS ON THE BEAT SINCE THE FIRST GOP GREAT DEPRESSION, WE HAD RONNIE'S S&L CRISIS AND DUBYA'S SUBPRIME BUBBLE RIGHT BUTTERCUP? Just a coincidence?
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