Economic collapse of 2008 Democrat's fault, not Bush's

We all know that the collapse in 2008 started when the housing bubble burst, which led to the collapse of CountryWide, then Fannie Mae and Freddie Mac, then Wall Street insurance, investment and banking firms. So follow the money as they say. This is not a result of Bush's policies or tax cuts or anything Bush did, but it is the result of democrat policies, ignorance and corruption. Here is the first of many articles that I will submit as my proof:

 

I know that these facts have been pointed out time and time again in many threads, but I'm tired of the Obama mantra of "going back to Bush's policies which got us into this situation" when nothing could be further from the truth. It was Obama himself and his liberal do-gooder friends who where shaking down businesses and banks with his ACORN buddies and community organizing. The ignorance of the public and Obama himself regarding the democrat's culpability in creating this crisis is unbelievable. It is Obama, not Romney, who is taking us back to the failed policies that got us into this mess.

[video=youtube;KcCs1yGO6aA]http://www.youtube.com/watch?v=KcCs1yGO6aA[/video]

 

Just another ex post story about CRA.

In either case, the problem started with the S&L crisis, when we sent the signal to creditors that even if they made bad loans, they'd be supported by tax payers. It's the very epitome of moral hazard, we absolutely perverted the incentives of creditors to be prudent. That coupled with poor, expansionary monetary policy are where I place the blame, the CRA played a role but pinning it on either political party and not both is just plain silly and ignores too many of the contributing factors. This was bipartisan to the core.

 

Here is proof that the republicans did all they could to avert a financial crisis, while democrats defended the policies of blocking any efforts of reform or regulation. Mind you, none of this was a result of Bush era tax cuts to the rich, or any other Bush policies that you can name. The democrats own the economic crisis, and are doing more of the same, which is why our economy is stagnant.

[video=youtube;cMnSp4qEXNM]http://www.youtube.com/watch?v=cMnSp4qEXNM[/video]

 

Just watch the two videos that I posted. Although there may have been some policies that democrats and republicans had regarding Wall Street, the crux of the problem was the housing market, and the failure of it is primarily the democrats fault.

 

If you're of the opinion that a youtube video is "proof" of anything, then you need to raise your standards. More importantly I'm not the least bit interested in idiotic partisan cheerleading that ignores contributing factors when they're condemning of your "team".

Didn't say a single word about that. Having trouble getting off script?

They both had hands in the cookie jar, as I pointed out, if it weren't for the S&L crisis who knows how creditors might have reacted if they actually thought bankruptcy were a possibility. They didn't though, they knew an implicit guarantee existed, same for F&F, you can't expect prudence from regulators under those conditions.

 

If you think that actual videos, of actual people proves nothing then your standards are way too high. If you see a video of a person robbing a bank, is that not proof of him robbing the bank? What more proof do you need?

Your defense of the dems is so weak, why even bother. You don't have to post at all. You really don't seem well enough informed to comment.

 

Patriot, what about the moral hazards? Both parties create them, then exploit them to their own narrow personal interests. As Philip Zimbardo notes, when you create a bad barrel, don't be surprised to find bad apples in it. And if our own reps are creating the barrel, seems we need a better way to organize society.

 

You're really comparing this to a bank robbery? Like your presenting evidence of someone pushing over the economy, give me a break.

If you weren't being such a Partisan Patty, you might have noticed I didn't defend anyone. All I did was expand the number of people who were culpable.

Says the guy who doesn't understand what I'm saying.

He doesn't have a clue what it is, he's not interested in the causes of the crisis, only in partisan finger pointing.

 

The Collapse really started in 2007 when the Democratic Party took over the control of the country's purse strings in Congress.


The Economic Collapse is not an accident, oversight, error, mistake or unavoidable problem, it is a DELIBERATE Cloward-Piven Strategy for the socialist "Transformation" of America!


http://www.politicalforum.com/elections-campaigns/258354-rumble-coming-wheels.html


The American middle class needs to stop listening to the main stream media's attempt to SPIN the BLAME onto anybody and everybody else,

and begin to demand for Prosecution and Removal from Office of the Traitors who are sending our tax dollars to Brazil, Netherlands, Egypt, Russia and China!

It is NOT an Accident, it is Sabotage.


It is NOT incompetence, it is TREASON.​

 

No one is buying this line, because it isn't true.
The cause of the economic crash is the conservative ideals and policy of deregulation and privatization.
The debt is caused by bush the failure, but the debt isn't what cased the collapse and fixing the debt won't fix the economy, despite what the cons are trying so desperately to make you believe.

 

geez some people are just not bright enough to bother with but I will try one more time,
The CRA had NOTHING to do with the housing market failure!

 

It's the republican policy of 'privatizing profit and making loss public'
It's cost the tax payers trillions and has transferred the middle class wealth to the top.
The CRA had nothing to do with it at all, it couldn't as there is no language in the CRA to even come close to forcing anyone to make any loans.

 

LOL!!
And that idea is even dumber that the CRA or Fanny and Freddy did it!
DO you people ever stop to think about the crap you are parroting?

 

The starring roles Democrat "social justice" policies and "strategies" played in the meltdown are inarguable.

For those interested in facts and truth over progressive leftist denials, dissembling and projection, a glaring exposure of the architects and their vaunted plans is revealed in this thread's OP and attached links:
http://www.politicalforum.com/political-opinions-beliefs/259729-big-fed-democrats-meltdown.html

 

No, I don't expect Traitors to admit to their crimes...


I do expect that eventually the American public will wake to the betrayal of the currently ascendant radical subset of the Democratic Party and throw them out of office.


Tell me, if you were to apply for a house loan for $150K dollars, how long would it take for you to get the needed background checks, employment verifications, credit checks, property appraisals, and legal paperwork preparations, from start to finish?


How long would it take for any business to set up a $Billion dollar loan?


For thirty years, the American offshore oil companies have been REQUIRED by Federal Law to keep a fleet of surface oil slick burning barges ready for an oil spill. If you burn off the oil as it comes to the surface, it does far, far less environmental damage, than letting it come to the shore where the a much more fragile ecosystem and more wildlife resides.


The Obama Administration STOPPED the use of hundreds of surface oil barges during the gulf oil spill, and simply let the oil spill hit the coastline.


President Obama then placed a moratorium on ALL United States companies from drilling in the Gulf.


Less than five days after the Moratorium was in place, the Obama Administration gave TWO $Billion in U.S. Tax dollars as Loan Guarantees to a BRAZILIAN oil company to drill in the exact same waters, but the crude oil product of those wells will go halfway around the world to CHINA, instead of a few hundred miles to United States Oil Refineries.


The Brazilian oil companies and the Obama administration PLANNED the moratorium and used the environmental disaster of American Shores to hurt what President Obama sees as his enemies; England, British Petroleum, American Industry, the middle class of the United States, and reward his friends and campaign donors, Communist China, Brazilian Oil Companies, and Chinese Industrial Corporations.

It is NOT an Accident, it is Sabotage.


It is NOT incompetence, it is TREASON.​

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The collapse had nothing to do with Democrats being elected. The bubble was fused by Alan Greenspan, and every bubble has to burst.

 

The CRA did help fuel the bubble, contrary to what others say. The government saying "Lower your standards, we'll bail you out if things go wrong" is creating a moral hazard so big even the stupidest banker would understand the lesson: Don't Worry, be happy, big daddy will take care of you.

The whole 'private profits public cost' mentioned earlier was exacerbated by the CRA.

The root is the FED, of course, but congress can and does make things worse than it would otherwise be with their ham handed attempts to help.

Can we say Moral Hazard?

 

Absolute lies, start to finish.
Have you no shame?

 

Except for the fact that the CRA did none of those things.

 

It takes Honor and Courage to challenge Treason... Where is yours?

 

It takes rational adult thinking to know when NOT to cry treason, where is the right wings?

 

What part of the Cloward-Piven Strategy don't you get?


http://en.wikipedia.org/wiki/Cloward–Piven_strategy


http://answers.yahoo.com/question/index?qid=20100915072659AAERSeG


Do you deny that Obama Blocked U.S. Oil Production in the Gulf?

http://www.huffingtonpost.com/2010/12/01/obama-administration-no-o_n_790407.html

Is the Huffingtonpost lying?


Do you deny that Obama gave two $Billion in loans to Brazilian Oil Companies?


http://www.foxnews.com/politics/200...-riles-conservatives-favor-offshore-drilling/


Do you deny that Obama attempted to give 730 $Million to a Russian Steel Company


http://michellemalkin.com/2012/01/0...ned-steel-firm-withdrawn-after-gop-challenge/



Look, the Democratic Party will sooner or later have to own up to the fact that they put a Socialist Radical and a Traitor into the White House.


The sooner that admit it, applogize, and work to correct the mistake, the less damage the party will take.


Denial will not solve the Democratic Party's or America's problem.


Getting rid of Obama and all his Socialist Radical Cronnies will solve the problem.

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I understand what you are saying...it's the everyone does it defense, and you are using it to defend the democrats. Talk about partisan patsies, look in the mirror.

 

What did the republicans deregulate, what did they privatize and what connection is there to the collapse of the housing market, CountryWide, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Bear Stearns, and all the others?

You obviously didn't watch the videos.