Why GWB will be one of the greatest Presidents in MY LIFETIME...

[Harry Dresden]

GWB is the last president we have had. And a great one he was. Surely he gave into democrats too much, but overall, he was one of the great ones.

if you say so Katz.....a GREAT leader does not take a 90% approval rating and end up at 33%....

 

[Indeependent]

GWB is the last president we have had. And a great one he was. Surely he gave into democrats too much, but overall, he was one of the great ones.

if you say so Katz.....a GREAT leader does not take a 90% approval rating and end up at 33%....

Are you bringing up those last few months in office again?
Never mind those; they were Obama's fault.
Just ask Rush.

 

[Londoner]

George Bush created the largest asset bubble in American.

How?

Watch this
[ame=http://www.youtube.com/watch?v=kNqQx7sjoS8]Home Ownership and President Bush - YouTube[/ame]

He was begged to pressure Greenspan to increase rates before the bubble was too large.

He did the opposite.

He destroyed the country long term.

This is to say nothing of the Patriot Act and Department of Homeland Security, both of which have shredded the constitution and left the USA with a Soviet Style Surveillance State.

George Bush was the worst president in American history by any standard of measurement. He literally ended the American Moment in history.

 

[healthmyths]

Bush spent way too much.
Grew government way too much.

PROVE Bush spent too much!
Here are the FACTS USE FACTS not guesses!!!
Bush expenditures and revenue.. FACTS

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200]Historical Federal Receipt and Outlay Summary

• Year Outlays Revenues Surplus/(deficit) more going out then coming in..
• 2000 $2.026 Trillion $ 1.789 Trillion $236.2 billion
• 2001 1.991 1.862 126.6 GEEZ why did REVENUES go down DUMMIES?? Could be Dot.com/Recession/9/11????
• 2002 1.853 2.010 (157.8 billion deficit) $5 trillion dot.com busts $66 billion in reduced revenue - 300,000 mostly high paying jobs gone Recession started 3/01 ended 11/01.
• 2003 1.782 2.159 (377.6 billion deficit) $2 trillion 9/11 losses - $33 billion LOST TAX revenue PLUS loans , plus 146,000 jobs GONE
• 2004 1.880 2.252 (412.7 billion deficit) $600 billion in Homeland startup costs
• 2005 2.153 2.472 (318.3 billion deficit) $1 trillion from worst hurricane SEASONS in history $12 billion lost revenue
• 2006 2.406 2.655 (248.2 billion deficit)
• 2007 2.568 2.728 (160.7 billion deficit)
• 2008 2.524 2.982 (458.6 billion deficit)

NOW economic Illiterati... explain AWAY those EVENTS!
Explain how YOU would want the cities and states to cope with:
A) Recession
B) Dot.com BUST cost 300,000 jobs!
C) 9/11 9/11!!!! Do you understand that the country came to a HALT! Airlines didn't fly! Wall Street was closed! WHERE in the f...k were you during that time???
D) Worst HURRICANE SEASONS NOT just one but dozens of hurricanes and all cost billions in lost jobs, business, TAX REVENUE!!!

But again YOU IDIOTS believe the MSM constant BASHING!
AND IN spite of that constant bashing... BUSH kept our country together!

 

[Harry Dresden]

Was Bush II great? Hell no.. Would I consider him better than Obamalama?? Certainly... Kinda like how dried shit on the floor in your house is better than fresh shit on the floor in your house because it stinks less

I believe they were each better at different aspects of the Presidency, and i dont think that either are corrupt or evil. Liars - sure, politically.

Just what, pray tell is obama better at?

getting money to rich Democrats.....just like Bush was good at getting money to rich Republicans....and some people in the middle may have grabbed some falling crumbs...

 

[SidderGunny]

When I first became aware of "presidents" was Eisenhower.
With the Presidents that followed only two will be to me the "greatest" Presidents.
NOW dealing strictly WITH HISTORICAL FACTS!!!

Faced with:
The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960's.

It is simply the unemployment rate added to the inflation rate.

The misery index under President Jimmy Carter averaged 16.26, with a high of 20.76 in 1980.
At one time under Carter,

Then President Ronald Reagan took over the index was 17.97, his highest.
If any president had an excuse to blame the previous administration, Reagan did.
Instead the misery index declined to 9.57 at the end of 1988.... a 9.61 points reduction or 53% reduction!!!

So looking at the inflation rate for the highest in history:
1980 annual inflation rate was 13.58% with March 1980 it reach 14.76% .

So the unemployment rate was in 1982 9.71% BUT using the Obama standard blame the previous President Carter...

From the highest it declined under Reagan to in 1988 5.49% again a nearly 43% drop in unemployment.

So At this point The greatest President was Reagan! Dropped inflation by 50% and unemployment dropped by 40%!
Two simplest measures of "greatness" in the Presidents in my life time.


BUT in my lifetime NO president had these 4 monumental cataclysmic events and historians will verify these FACTS as idiots seem to forget
what happened from 2001 to 2008!

Then we have G.W.Bush..
His unemployment rates:
2001 4.74
2002 5.78
2003 5.99
2004 5.54
2005 5.08
2006 4.61
2007 4.62
2008 5.80

Did ANY EXECUTIVE ACTIONS on the Part of GWB CAUSE THESE EVENTS to happen???

1) Recession that started under Clinton ended 11/01.
Specifically, 50.8 million jobs were lost through the first six quarters of the ‘01 recession .
Heritage Employment Report: February Continues Winter Blues
The 2001 recession officially started 03/2001... BUT the steps leading up to it started under Clinton!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value..
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 -
and hundreds of thousands of skilled technology workers were out of jobs.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Hard to believe but people forget that 9/11 occurred!
It cost $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone.

Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
The Top 10 Financial Events of the Decade

3) $1 trillion in written off losses due to the WORST Hurricane SEASONS in history!
The worst Katrina,made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.

Bush growth of the GDP was greater then Clinton in 2005 GDP grew at 6.5% Clinton's best:6.4%
Measuring Worth - GDP result.

When Bush started 131,785,000 people employed.
At the end of 2008 136,790,000 people employed or

5,000,000 more employed then when he took office.

DID THIS HAPPEN???
Oh and did I mention along the way when "Mission Accomplished" occurred after less then six weeks of combat in May 2003.. 10 years ago..
that over 1 million Iraq people were saved from starving?
50,000 people a year were starving under Saddam and when he was removed, (by the way at the request of Kerry,Pelosi, and 90% of the 28 million Iraqis)
the UN mandated embargo was removed.

Researcher Richard Garfield estimated that "a minimum of 100,000 and a more likely estimate of 227,000 excess deaths among young children from August 1991 through March 1998" from all causes including sanctions. Human rights in Saddam Hussein's Iraq - Wikipedia, the free encyclopedia

So given the above EVENTS that GWB FACED that IN MY LIFETIME NO other president had to face GWB will be known as one of the GREATEST Presidents"

SO all you people that boo,bash Bush.. and will want to trash this for once use your brains!
A) GWB Faced a recession meaning slower businesses lost jobs, lost taxes!
B) A MAJOR ATTACK on the soil of the USA not only our economic center WTC but our military center the Pentagon! No president EVER had that tremendous blow
to the American psyche! If none of you were around then or conveniently forget REMEMBER the anthrax attacks right afterwards and how with the terrorists
destructions wow... where were idiots that forget this?
C) Worst hurricane SEASONS (PLURAL) most destructive and most hurricanes from 2003 to 2008! You can believe the relatives of the 3,000 lost lives, the employees
and homeowners will never forget... WHY do you idiots forget!!



By the way here is Obama's unemployment record...
2009 9.28 Obama
2010 9.63
2011 8.95
2012 8.08

There are no words in existence in any language to truly express how completely fucking retarded you are. For the love of god I hope you never procreate.

 

[Harry Dresden]

GWB is the last president we have had. And a great one he was. Surely he gave into democrats too much, but overall, he was one of the great ones.

if you say so Katz.....a GREAT leader does not take a 90% approval rating and end up at 33%....

Are you bringing up those last few months in office again?
Never mind those; they were Obama's fault.
Just ask Rush.

last few months?.....try last 4 years.....and fuck rush....

 

[healthmyths]

George Bush created the largest asset bubble in American.

How?

Watch this
Home Ownership and President Bush - YouTube

He was begged to pressure Greenspan to increase rates before the bubble was too large.

He did the opposite.

He destroyed the country long term.

This is to say nothing of the Patriot Act and Department of Homeland Security, both of which have shredded the constitution and left the USA with a Soviet Style Surveillance State.

George Bush was the worst president in American history by any standard of measurement. He literally ended the American Moment in history.

WHERE ARE YOUR FACTS??

YOU HAVE NOT supplied ANY support material ... so you are just making an asshole comment with NO f...king proof!

But because economic Illiterati like you I WILL GIVE YOU PROOF to show you are f...king STuPID!!!

New study concludes that the Community Reinvestment Act ‘clearly’ did lead to risky lending
James Pethokoukis | December 12, 2012, 9:50 am
Our empirical strategy compares lending behavior of banks undergoing CRA exams within a given census tract in a given month to the behavior of banks operating in the same census tract-month that do not face these exams. We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often. These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks. The effects are strongest during the time period when the market for private securitization was booming. …
New study concludes that the Community Reinvestment Act ?clearly? did lead to risky lending | AEIdeas



Why is it that Congress and Democrats think MORE government rules and regulations HELP?
Case in point recent economic slowdown can place it's beginning in 1977 when
Community Reinvestment Act (CRA), was enacted by Jimmy Carter & Democrat Congress .

Then 1995..
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!

Enter Credit Default Swaps...
Credit default swaps have existed since the early 1990s, and increased in use after 2003. By the end of 2007, the outstanding CDS amount was $62.2 trillion,[4] falling to $26.3 trillion by mid-year 2010[5] but reportedly $25.5[6] trillion in early 2012.[

Using CDswaps banks could unload the sub-prime loans by having Fannie/Freddie securitizing them as explained in this statement:
Oct. 23,2008 (Bloomberg) -- Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full
faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart
said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


WHERE ARE YOU FACTS dummy???

 

[healthmyths]

When I first became aware of "presidents" was Eisenhower.
With the Presidents that followed only two will be to me the "greatest" Presidents.
NOW dealing strictly WITH HISTORICAL FACTS!!!

Faced with:
The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960's.

It is simply the unemployment rate added to the inflation rate.

The misery index under President Jimmy Carter averaged 16.26, with a high of 20.76 in 1980.
At one time under Carter,

Then President Ronald Reagan took over the index was 17.97, his highest.
If any president had an excuse to blame the previous administration, Reagan did.
Instead the misery index declined to 9.57 at the end of 1988.... a 9.61 points reduction or 53% reduction!!!

So looking at the inflation rate for the highest in history:
1980 annual inflation rate was 13.58% with March 1980 it reach 14.76% .

So the unemployment rate was in 1982 9.71% BUT using the Obama standard blame the previous President Carter...

From the highest it declined under Reagan to in 1988 5.49% again a nearly 43% drop in unemployment.

So At this point The greatest President was Reagan! Dropped inflation by 50% and unemployment dropped by 40%!
Two simplest measures of "greatness" in the Presidents in my life time.


BUT in my lifetime NO president had these 4 monumental cataclysmic events and historians will verify these FACTS as idiots seem to forget
what happened from 2001 to 2008!

Then we have G.W.Bush..
His unemployment rates:
2001 4.74
2002 5.78
2003 5.99
2004 5.54
2005 5.08
2006 4.61
2007 4.62
2008 5.80

Did ANY EXECUTIVE ACTIONS on the Part of GWB CAUSE THESE EVENTS to happen???

1) Recession that started under Clinton ended 11/01.
Specifically, 50.8 million jobs were lost through the first six quarters of the ‘01 recession .
Heritage Employment Report: February Continues Winter Blues
The 2001 recession officially started 03/2001... BUT the steps leading up to it started under Clinton!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value..
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 -
and hundreds of thousands of skilled technology workers were out of jobs.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Hard to believe but people forget that 9/11 occurred!
It cost $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone.

Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
The Top 10 Financial Events of the Decade

3) $1 trillion in written off losses due to the WORST Hurricane SEASONS in history!
The worst Katrina,made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.

Bush growth of the GDP was greater then Clinton in 2005 GDP grew at 6.5% Clinton's best:6.4%
Measuring Worth - GDP result.

When Bush started 131,785,000 people employed.
At the end of 2008 136,790,000 people employed or

5,000,000 more employed then when he took office.

DID THIS HAPPEN???
Oh and did I mention along the way when "Mission Accomplished" occurred after less then six weeks of combat in May 2003.. 10 years ago..
that over 1 million Iraq people were saved from starving?
50,000 people a year were starving under Saddam and when he was removed, (by the way at the request of Kerry,Pelosi, and 90% of the 28 million Iraqis)
the UN mandated embargo was removed.

Researcher Richard Garfield estimated that "a minimum of 100,000 and a more likely estimate of 227,000 excess deaths among young children from August 1991 through March 1998" from all causes including sanctions. Human rights in Saddam Hussein's Iraq - Wikipedia, the free encyclopedia

So given the above EVENTS that GWB FACED that IN MY LIFETIME NO other president had to face GWB will be known as one of the GREATEST Presidents"

SO all you people that boo,bash Bush.. and will want to trash this for once use your brains!
A) GWB Faced a recession meaning slower businesses lost jobs, lost taxes!
B) A MAJOR ATTACK on the soil of the USA not only our economic center WTC but our military center the Pentagon! No president EVER had that tremendous blow
to the American psyche! If none of you were around then or conveniently forget REMEMBER the anthrax attacks right afterwards and how with the terrorists
destructions wow... where were idiots that forget this?
C) Worst hurricane SEASONS (PLURAL) most destructive and most hurricanes from 2003 to 2008! You can believe the relatives of the 3,000 lost lives, the employees
and homeowners will never forget... WHY do you idiots forget!!



By the way here is Obama's unemployment record...
2009 9.28 Obama
2010 9.63
2011 8.95
2012 8.08

There are no words in existence in any language to truly express how completely fucking retarded you are. For the love of god I hope you never procreate.

And I suppose your "pithy" juvenile UNSUBSTANTIATED wild eyed stupid comment shows the better part of you went into a rag?

 

[BDBoop]

So, basically:

If W did ANYTHING, the lolberals attacked him and derided him for it.

But if Obumbler does the same things or other things which are palpably stupid, the lolberals suddenly lose their voices.

W uses a drone = "bad."

Obumbler uses a drone = "good."

And lolberals can't figure out why they are recognized as being meritless.

Which is the mirror opposite of what the cons do.

 

[SidderGunny]

When I first became aware of "presidents" was Eisenhower.
With the Presidents that followed only two will be to me the "greatest" Presidents.
NOW dealing strictly WITH HISTORICAL FACTS!!!

Faced with:
The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960's.

It is simply the unemployment rate added to the inflation rate.

The misery index under President Jimmy Carter averaged 16.26, with a high of 20.76 in 1980.
At one time under Carter,

Then President Ronald Reagan took over the index was 17.97, his highest.
If any president had an excuse to blame the previous administration, Reagan did.
Instead the misery index declined to 9.57 at the end of 1988.... a 9.61 points reduction or 53% reduction!!!

So looking at the inflation rate for the highest in history:
1980 annual inflation rate was 13.58% with March 1980 it reach 14.76% .

So the unemployment rate was in 1982 9.71% BUT using the Obama standard blame the previous President Carter...

From the highest it declined under Reagan to in 1988 5.49% again a nearly 43% drop in unemployment.

So At this point The greatest President was Reagan! Dropped inflation by 50% and unemployment dropped by 40%!
Two simplest measures of "greatness" in the Presidents in my life time.


BUT in my lifetime NO president had these 4 monumental cataclysmic events and historians will verify these FACTS as idiots seem to forget
what happened from 2001 to 2008!

Then we have G.W.Bush..
His unemployment rates:
2001 4.74
2002 5.78
2003 5.99
2004 5.54
2005 5.08
2006 4.61
2007 4.62
2008 5.80

Did ANY EXECUTIVE ACTIONS on the Part of GWB CAUSE THESE EVENTS to happen???

1) Recession that started under Clinton ended 11/01.
Specifically, 50.8 million jobs were lost through the first six quarters of the ‘01 recession .
Heritage Employment Report: February Continues Winter Blues
The 2001 recession officially started 03/2001... BUT the steps leading up to it started under Clinton!

DID THIS HAPPEN??
1) Dot.com bust cost $5 trillion in lost market value..
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 -
and hundreds of thousands of skilled technology workers were out of jobs.
The dot-com bubble: How to lose $5 trillion ? Anderson Cooper 360 - CNN.com Blogs

DID THIS HAPPEN??
2) Hard to believe but people forget that 9/11 occurred!
It cost $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone.

Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
The Top 10 Financial Events of the Decade

3) $1 trillion in written off losses due to the WORST Hurricane SEASONS in history!
The worst Katrina,made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages.
Hurricane Katrina ALONE! Year 2005: Hurricanes Katrina and Rita
On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.

Bush growth of the GDP was greater then Clinton in 2005 GDP grew at 6.5% Clinton's best:6.4%
Measuring Worth - GDP result.

When Bush started 131,785,000 people employed.
At the end of 2008 136,790,000 people employed or

5,000,000 more employed then when he took office.

DID THIS HAPPEN???
Oh and did I mention along the way when "Mission Accomplished" occurred after less then six weeks of combat in May 2003.. 10 years ago..
that over 1 million Iraq people were saved from starving?
50,000 people a year were starving under Saddam and when he was removed, (by the way at the request of Kerry,Pelosi, and 90% of the 28 million Iraqis)
the UN mandated embargo was removed.

Researcher Richard Garfield estimated that "a minimum of 100,000 and a more likely estimate of 227,000 excess deaths among young children from August 1991 through March 1998" from all causes including sanctions. Human rights in Saddam Hussein's Iraq - Wikipedia, the free encyclopedia

So given the above EVENTS that GWB FACED that IN MY LIFETIME NO other president had to face GWB will be known as one of the GREATEST Presidents"

SO all you people that boo,bash Bush.. and will want to trash this for once use your brains!
A) GWB Faced a recession meaning slower businesses lost jobs, lost taxes!
B) A MAJOR ATTACK on the soil of the USA not only our economic center WTC but our military center the Pentagon! No president EVER had that tremendous blow
to the American psyche! If none of you were around then or conveniently forget REMEMBER the anthrax attacks right afterwards and how with the terrorists
destructions wow... where were idiots that forget this?
C) Worst hurricane SEASONS (PLURAL) most destructive and most hurricanes from 2003 to 2008! You can believe the relatives of the 3,000 lost lives, the employees
and homeowners will never forget... WHY do you idiots forget!!



By the way here is Obama's unemployment record...
2009 9.28 Obama
2010 9.63
2011 8.95
2012 8.08

There are no words in existence in any language to truly express how completely fucking retarded you are. For the love of god I hope you never procreate.

And I suppose your "pithy" juvenile UNSUBSTANTIATED wild eyed stupid comment shows the better part of you went into a rag?

Man, that really hurt my feelings. Go choke on Bill O'Reilly's cock, swallow his cum and love it.

 

[healthmyths]

GW presided over not securing the Southern border, thus driving down wages for Blue Collar workers.
GW presided over the largest increase in business visas in history resulting in millions of skilled engineers and software developers losing their jobs.

But most importantly, you don't get to average out 8 years when you leave the nation in it's worst economic meltdown in history.

GW will go down as one of the 3 or 4 worst presidents ever.

AGAIN... YOU totally TOTALLY IGNORE REALITY!!
Prove your statements AS I PROVE MINE WITH Sources!

Bush expenditures and revenue.. FACTS

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200]Historical Federal Receipt and Outlay Summary

• Year Outlays Revenues Surplus/(deficit) more going out then coming in..
• 2000 $2.026 Trillion $ 1.789 Trillion $236.2 billion
• 2001 1.991 1.862 126.6
• 2002 1.853 2.010 (157.8 billion deficit) $5 trillion dot.com busts $66 billion in reduced revenue - 300,000 mostly high paying jobs gone Recession started 3/01 ended 11/01.
• 2003 1.782 2.159 (377.6 billion deficit) $2 trillion 9/11 losses - $33 billion LOST TAX revenue PLUS loans , plus 146,000 jobs GONE
• 2004 1.880 2.252 (412.7 billion deficit) $600 billion in Homeland startup costs
• 2005 2.153 2.472 (318.3 billion deficit) $1 trillion from worst hurricane SEASONS in history $12 billion lost revenue
• 2006 2.406 2.655 (248.2 billion deficit)
• 2007 2.568 2.728 (160.7 billion deficit)
• 2008 2.524 2.982 (458.6 billion deficit)

TELL ME DUMMY...
Was there a recession that started under Clinton and ended 11/01?? TRUE OR FALSE???
WAS THERE A DOT.COM BUST that cost $5 trillion that the bubble started under Clinton and busted??? PhONY earnings!! All under Clinton..not BUSH!
TELL ME Dummy were you hiding under a table at pre-school when 9/11 occurred killed 3,000 people Cost millions of jobs and money DID THAT HAPPEN?
TELL the people like MY SELF that went through the anxiety the trauma of the WORST HURRICANE SEASONS in history where you dummy???
TELL me where were YOU ??

THESE are real events. THEY costed REAL MONEY! Real LIVES!
OH and as far as Iraq...
Why don't you tell the one million children that are still alive because they didn't STARVE as they would have if your hero Saddam were still in power?
Why don't you tell these people they should NOT have been happy when Saddam was removed!

Saddam broke the CEASE FIRE and was hung by his own people that were obviously very tired of dumb s...ts like you that
obviously never heard about these actions by Saddam the guy you would LOVE to be a slave to!!

Ahmad was Uday's chief executioner. Last week, as Iraqis celebrated the death of his former boss and his equally savage younger brother Qusay, he nervously revealed a hideous story. His instructions that day in 1999 were to arrest the two 19-year-olds on the campus of Baghdad's Academy of Fine Arts and deliver them at Radwaniyah. On arrival at the sprawling compound, he was directed to a farm where he found a large cage. Inside, two lions waited. They belonged to Uday. Guards took the two young men from the car and opened the cage door. One of the victims collapsed in terror as they were dragged, screaming and shouting, to meet their fate. Ahmad watched as the students frantically looked for a way of escape. There was none. The lions pounced. 'I saw the head of the first student literally come off his body with the first bite and then had to stand and watch the animals devour the two young men. By the time they were finished there was little left but for the bones and bits and pieces of unwanted flesh,' he recalled last week."
-- Sunday Times, London, July 27, 2003


"Ali would then draw out a pair of pliers and a sharp knife. Gripping the tongue with pliers, he would slice it up with the knife, tossing severed pieces into the street. "'Those punished were too terrified to move, even though they knew I was about to chop off their tongue,' said Ali in his matter-of-fact voice. 'They would just stand there, often praying and calling out for Saddam and Allah to spare them. By then it was too late.

"'I would read them out the verdict and cut off their tongue without any form of anaesthetic. There was always a lot of blood. Some offenders passed out. Others screamed in pain. They would then be given basic medical assistance in an ambulance which would always come with us on such punishment runs. Then they would be thrown in jail.'"

-- Fedayeen Saddam member interviewed in The Sunday Times (London), April 20, 2003
Saddam has reduced his people to abject poverty.
He wiped out families, villages, cities and cultures, and drove four million people into exile.
He killed between 100,000 and 200,000 Kurds. He killed as many as 300,000 Shiites in the uprising after the Persian Gulf war.
He killed or displaced 200,000 of the 250,000 marsh Arabs who had created a unique, centuries-old culture in the south. He drained the marshes, an environmental treasure, and turned them into a desert.

In a recent Frontline documentary, a woman who fled Iraq recounted how she and others had been forced
to witness the public beheadings of 15 women who had been rounded up for prostitution and other crimes against the state. One of the women was a doctor who had been misreported as speaking against the regime.
"They put her head in a trash can," she said.
The inhumane reign of Saddam Hussein: Pt. 5 - The London Times + (UK free press)

And TELL me dummy... why are you so stupid not to provide ANY links like I have done?
I don't MAKE this stuff UP! If you were half way intelligent you would NOT be writing anything here because everything you said WAS HERESAY..GUESSES!!

 

[Indeependent]

George Bush created the largest asset bubble in American.

How?

Watch this
Home Ownership and President Bush - YouTube

He was begged to pressure Greenspan to increase rates before the bubble was too large.

He did the opposite.

He destroyed the country long term.

This is to say nothing of the Patriot Act and Department of Homeland Security, both of which have shredded the constitution and left the USA with a Soviet Style Surveillance State.

George Bush was the worst president in American history by any standard of measurement. He literally ended the American Moment in history.

WHERE ARE YOUR FACTS??

YOU HAVE NOT supplied ANY support material ... so you are just making an asshole comment with NO f...king proof!

But because economic Illiterati like you I WILL GIVE YOU PROOF to show you are f...king STuPID!!!

New study concludes that the Community Reinvestment Act ‘clearly’ did lead to risky lending
James Pethokoukis | December 12, 2012, 9:50 am
Our empirical strategy compares lending behavior of banks undergoing CRA exams within a given census tract in a given month to the behavior of banks operating in the same census tract-month that do not face these exams. We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often. These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks. The effects are strongest during the time period when the market for private securitization was booming. …
New study concludes that the Community Reinvestment Act ?clearly? did lead to risky lending | AEIdeas



Why is it that Congress and Democrats think MORE government rules and regulations HELP?
Case in point recent economic slowdown can place it's beginning in 1977 when
Community Reinvestment Act (CRA), was enacted by Jimmy Carter & Democrat Congress .

Then 1995..
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!

Enter Credit Default Swaps...
Credit default swaps have existed since the early 1990s, and increased in use after 2003. By the end of 2007, the outstanding CDS amount was $62.2 trillion,[4] falling to $26.3 trillion by mid-year 2010[5] but reportedly $25.5[6] trillion in early 2012.[

Using CDswaps banks could unload the sub-prime loans by having Fannie/Freddie securitizing them as explained in this statement:
Oct. 23,2008 (Bloomberg) -- Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full
faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart
said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


WHERE ARE YOU FACTS dummy???

I've seen your link 100 times in the last two weeks.
Let's see the legislation you profess forceed bad loans.
BTW, less than 3% of the loans were Sub-Prime, but why bring up micro facts.
I lived through the 90s and your Citibank story didn't force anyone to do anything.
CDSs were created by JP Morgan to allow default insurance on entities unrelated to the insurance holder; try doing that with someone you don't know.
The CDSs crashed and THAT'S what caused the major problems.

We have much more dollar value in CDSs today than in 2008 and when they crash 2008 will look like a party.

Both parties looked the other way just as the SEC ignored complaints about Madoff.

Rush was hailing GW as a genius for ignoring the Sub-Prime loans BECAUSE they were such a TINY portion of the loans.

 

[GWV5903]

George Bush created the largest asset bubble in American.

How?

Watch this
Home Ownership and President Bush - YouTube

He was begged to pressure Greenspan to increase rates before the bubble was too large.

He did the opposite.

He destroyed the country long term.

This is to say nothing of the Patriot Act and Department of Homeland Security, both of which have shredded the constitution and left the USA with a Soviet Style Surveillance State.

George Bush was the worst president in American history by any standard of measurement. He literally ended the American Moment in history.

Bull Shit...

Clinton started the Housing Bubble with FHA DPA, Sub Prime was also under Clinton...

I would not defend Graham over Glass Stegall, bad decision...

Currently US Taxpayers support Zero Down USDA Loans with low MI, bad product...

This is the best article to date on the Mortgage Meltdown, CRA was the seed that started this mentality and by 2008 it had manifested into a disaster after 10 years of madness...

RealClearMarkets - How Did Paul Krugman Get It So Wrong?

This cycle has happened twice in my adult life and it will happen again in the not too distant future...

 

[healthmyths]

There are no words in existence in any language to truly express how completely fucking retarded you are. For the love of god I hope you never procreate.

And I suppose your "pithy" juvenile UNSUBSTANTIATED wild eyed stupid comment shows the better part of you went into a rag?

Man, that really hurt my feelings. Go choke on Bill O'Reilly's cock, swallow his cum and love it.

Wow... brilliant repartee...

Tell you what use the internet as I have and translate this:

أشعر الحزن ونصلي لك أنه عند نقطة معينة سوف تستخدم المخابرات محدودة للعثور على الحقيقة التي لا تصل حتى الآن الفهم الخاص بك!

 

[freedombecki]

President George W. Bush will be remembered by me as the President who loved the American people, plus he gave incentives to industries to clean up pollution, and they got rid of almost all the brownfields in America that were caused by industrial pollution. And did I say that he loved the American people every day? It's true, and he worked just as hard as he could for every person to be able to earn a decent living if they wanted to.

Unfortunately, the press never acknowledged President Bush's many accomplishments, one of my favorites of which was to improve and protect 3 million acres of wetlands and called on Ducks Unlimited to make suggestions for this task:

Ducks Unlimited Reacts to President Bush’s Earth Day Commitment to Wetlands MEMPHIS, April 22–Officials from Ducks Unlimited are calling President George W. Bush’s proposed new wetlands initiatives “good news” for North America’s waterfowl, other wildlife, and people. The president outlined new strategies and policies for conserving wetlands in a speech during Earth Day celebrations today in Wells, Maine.


Bush’s new wetlands initiative includes an ambitious shift in policy from “no net loss” to a policy of “overall increase” of wetlands in America each year. To help achieve this goal, the president committed to restore, improve, and protect 3 million acres of wetlands over the next 5 years. He also plans to improve tracking and data gathering on wetlands and conservation programs, and to enhance collaborative efforts with landowners to conserve wetlands. The president’s remarks also included the announcement of a streamlined process that will make it much easier for landowners to protect wetlands in the Prairie Pothole Region of the U.S. The prairie potholes represent some of the most critically important habitats in the world for breeding waterfowl and other wildlife. Beyond its vital natural habitat, this region is also a key conservation delivery location for programs such as the Conservation Reserve Program.

“Today, President Bush outlined some very positive steps for our wetlands, which have suffered from continuing loss and degradation for centuries,” said Don Young, Executive Vice President of Ducks Unlimited. “Wetlands were the central theme of the president’s remarks. Clearly, he understands the critical benefits wetlands provide as habitat for hundreds of wildlife species as well as their environmental benefits for people. We’re very pleased with his plans to commit more federal funding toward wetlands conservation and improved wetlands monitoring.”

Ducks Unlimited Reacts to President Bush?s Earth Day Commitment to Wetlands

 

[Toddsterpatriot]

Bush spent way too much.
Grew government way too much.

PROVE Bush spent too much!
Here are the FACTS USE FACTS not guesses!!!
Bush expenditures and revenue.. FACTS

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200]Historical Federal Receipt and Outlay Summary

• Year Outlays Revenues Surplus/(deficit) more going out then coming in..
• 2000 $2.026 Trillion $ 1.789 Trillion $236.2 billion
• 2001 1.991 1.862 126.6 GEEZ why did REVENUES go down DUMMIES?? Could be Dot.com/Recession/9/11????
• 2002 1.853 2.010 (157.8 billion deficit) $5 trillion dot.com busts $66 billion in reduced revenue - 300,000 mostly high paying jobs gone Recession started 3/01 ended 11/01.
• 2003 1.782 2.159 (377.6 billion deficit) $2 trillion 9/11 losses - $33 billion LOST TAX revenue PLUS loans , plus 146,000 jobs GONE
• 2004 1.880 2.252 (412.7 billion deficit) $600 billion in Homeland startup costs
• 2005 2.153 2.472 (318.3 billion deficit) $1 trillion from worst hurricane SEASONS in history $12 billion lost revenue
• 2006 2.406 2.655 (248.2 billion deficit)
• 2007 2.568 2.728 (160.7 billion deficit)
• 2008 2.524 2.982 (458.6 billion deficit)

NOW economic Illiterati... explain AWAY those EVENTS!
Explain how YOU would want the cities and states to cope with:
A) Recession
B) Dot.com BUST cost 300,000 jobs!
C) 9/11 9/11!!!! Do you understand that the country came to a HALT! Airlines didn't fly! Wall Street was closed! WHERE in the f...k were you during that time???
D) Worst HURRICANE SEASONS NOT just one but dozens of hurricanes and all cost billions in lost jobs, business, TAX REVENUE!!!

But again YOU IDIOTS believe the MSM constant BASHING!
AND IN spite of that constant bashing... BUSH kept our country together!

From FY 1994- FY 2001, government outlays went from $1.462 trillion to $1.863 trillion.
An increase of $401 billion, 27.4%, 3.52% annually.
From FY 2001- FY 2008, government outlays went from $1.863 trillion to $2.983 trillion.
An increase of $1.120 trillion, 60.1%, 6.96% annually.

 

[healthmyths]

George Bush created the largest asset bubble in American.

How?

Watch this
Home Ownership and President Bush - YouTube

He was begged to pressure Greenspan to increase rates before the bubble was too large.

He did the opposite.

He destroyed the country long term.

This is to say nothing of the Patriot Act and Department of Homeland Security, both of which have shredded the constitution and left the USA with a Soviet Style Surveillance State.

George Bush was the worst president in American history by any standard of measurement. He literally ended the American Moment in history.

WHERE ARE YOUR FACTS??

YOU HAVE NOT supplied ANY support material ... so you are just making an asshole comment with NO f...king proof!

But because economic Illiterati like you I WILL GIVE YOU PROOF to show you are f...king STuPID!!!

New study concludes that the Community Reinvestment Act ‘clearly’ did lead to risky lending
James Pethokoukis | December 12, 2012, 9:50 am
Our empirical strategy compares lending behavior of banks undergoing CRA exams within a given census tract in a given month to the behavior of banks operating in the same census tract-month that do not face these exams. We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often. These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks. The effects are strongest during the time period when the market for private securitization was booming. …
New study concludes that the Community Reinvestment Act ?clearly? did lead to risky lending | AEIdeas



Why is it that Congress and Democrats think MORE government rules and regulations HELP?
Case in point recent economic slowdown can place it's beginning in 1977 when
Community Reinvestment Act (CRA), was enacted by Jimmy Carter & Democrat Congress .

Then 1995..
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!

Enter Credit Default Swaps...
Credit default swaps have existed since the early 1990s, and increased in use after 2003. By the end of 2007, the outstanding CDS amount was $62.2 trillion,[4] falling to $26.3 trillion by mid-year 2010[5] but reportedly $25.5[6] trillion in early 2012.[

Using CDswaps banks could unload the sub-prime loans by having Fannie/Freddie securitizing them as explained in this statement:
Oct. 23,2008 (Bloomberg) -- Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full
faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart
said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


WHERE ARE YOU FACTS dummy???

I've seen your link 100 times in the last two weeks.
Let's see the legislation you profess forceed bad loans.
BTW, less than 3% of the loans were Sub-Prime, but why bring up micro facts.
I lived through the 90s and your Citibank story didn't force anyone to do anything.
CDSs were created by JP Morgan to allow default insurance on entities unrelated to the insurance holder; try doing that with someone you don't know.
The CDSs crashed and THAT'S what caused the major problems.

We have much more dollar value in CDSs today than in 2008 and when they crash 2008 will look like a party.

Both parties looked the other way just as the SEC ignored complaints about Madoff.

Rush was hailing GW as a genius for ignoring the Sub-Prime loans BECAUSE they were such a TINY portion of the loans.

Where are your facts for your unsubstantiated statements?

AGAIN read what the experts said:
" We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often.
These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks."

New study concludes that the Community Reinvestment Act ?clearly? did lead to risky lending | AEIdeas

NOW since you still are scratching your head:
1) Community Re-Investment-Act encourage higher risk loans! Understand?
2) Most of the CRA loans were backed by Fannie/Freddie? Proof?

Banks re-packaged and sold with Fannie/Freddie Using CDswaps banks could unload the sub-prime loans by having Fannie/Freddie securitizing them as explained in this statement:

Oct. 23,2008 (Bloomberg) -- Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

Now Bush wanted the DEMOCRAT REPRESENTATIVES to take ACTION action FANNIE/FREDDIE and unlike the current Prez.. didn't go around Congress!
FACTS!

GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.
Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.

* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."..
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and called on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank's Fannie and Freddie Muddle - Sam Dealey (usnews.com)

 

[Indeependent]

It's called listening to the radio in the car.
It's called asking for the last 3 years for ANY document that diluted loan requirements.

LOTS of things happened before every thing became an Internet link.
I was a Rushbot from 9/11 until Jan 8, 2009 so I know what the drug addict said repeatedly.

Why don't you ask Lincoln why he attacked the South?
Oh, that was BEFORE Facebook!

 

[Toddsterpatriot]

George Bush created the largest asset bubble in American.

How?

Watch this
Home Ownership and President Bush - YouTube

He was begged to pressure Greenspan to increase rates before the bubble was too large.

He did the opposite.

He destroyed the country long term.

This is to say nothing of the Patriot Act and Department of Homeland Security, both of which have shredded the constitution and left the USA with a Soviet Style Surveillance State.

George Bush was the worst president in American history by any standard of measurement. He literally ended the American Moment in history.

WHERE ARE YOUR FACTS??

YOU HAVE NOT supplied ANY support material ... so you are just making an asshole comment with NO f...king proof!

But because economic Illiterati like you I WILL GIVE YOU PROOF to show you are f...king STuPID!!!

New study concludes that the Community Reinvestment Act ‘clearly’ did lead to risky lending
James Pethokoukis | December 12, 2012, 9:50 am
Our empirical strategy compares lending behavior of banks undergoing CRA exams within a given census tract in a given month to the behavior of banks operating in the same census tract-month that do not face these exams. We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often. These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks. The effects are strongest during the time period when the market for private securitization was booming. …
New study concludes that the Community Reinvestment Act ?clearly? did lead to risky lending | AEIdeas



Why is it that Congress and Democrats think MORE government rules and regulations HELP?
Case in point recent economic slowdown can place it's beginning in 1977 when
Community Reinvestment Act (CRA), was enacted by Jimmy Carter & Democrat Congress .

Then 1995..
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!

Enter Credit Default Swaps...
Credit default swaps have existed since the early 1990s, and increased in use after 2003. By the end of 2007, the outstanding CDS amount was $62.2 trillion,[4] falling to $26.3 trillion by mid-year 2010[5] but reportedly $25.5[6] trillion in early 2012.[

Using CDswaps banks could unload the sub-prime loans by having Fannie/Freddie securitizing them as explained in this statement:
Oct. 23,2008 (Bloomberg) -- Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full
faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart
said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


WHERE ARE YOU FACTS dummy???

I've seen your link 100 times in the last two weeks.
Let's see the legislation you profess forceed bad loans.
BTW, less than 3% of the loans were Sub-Prime, but why bring up micro facts.
I lived through the 90s and your Citibank story didn't force anyone to do anything.
CDSs were created by JP Morgan to allow default insurance on entities unrelated to the insurance holder; try doing that with someone you don't know.
The CDSs crashed and THAT'S what caused the major problems.

We have much more dollar value in CDSs today than in 2008 and when they crash 2008 will look like a party.

Both parties looked the other way just as the SEC ignored complaints about Madoff.

Rush was hailing GW as a genius for ignoring the Sub-Prime loans BECAUSE they were such a TINY portion of the loans.

The CDSs crashed and THAT'S what caused the major problems.

So you bought a CDS on $100 million in Lehman debt.
You were correct, Lehman defaults.
You get $100 million from the counterparty.
Your profit $100 million, their loss $100 million.
How did that cause the major problems?