The Bush Bailout- According to Forest Gump

[Anonymous]

This is the best explanation I've heard. Not sure what it says about me to have to have a Forest Gump explanation

to understand this mess…

Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors.

Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide. Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank's buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested, or indicted. Mama always said: 'Sniff the chocolates first, Forrest'. Quote of the day from a fund manager: "This is worse than a divorce... I've lost half of my net worth and I still have my wife.."

The bailout, a different perspective Back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country to a pack of nit-wits who couldn't make money running a whore house and selling booze? Something wrong here..........

 

[tom4018]

For the record I do not support the bailout. But everyone refers to it as the Bush bailout when the Dems are the one that supported it and passed it. If you go look at the voting record in the House and Senate you will see the majority of Republicans voted against it and the Democrats voted for it. I don't see where anyone can say it is Bush's fault it got passed into law, or where the Dems so dumb they just played follow the leader?

 

[VanC]

For the record I do not support the bailout. But everyone refers to it as the Bush bailout when the Dems are the one that supported it and passed it. If you go look at the voting record in the House and Senate you will see the majority of Republicans voted against it and the Democrats voted for it. I don't see where anyone can say it is Bush's fault it got passed into law, or where the Dems so dumb they just played follow the leader?

Not to mention the FACT that it was Democratic policies begun under Carter and strengthened under Clinton that started us down this road to begin with. Plus the FACT that it was Democrats in Congress that blocked reform called for by the Bush Administration that might have prevented this whole mess.

 

[Sandhusker]

Liberals operate on FEELINGS, not FACTS. Thus, don't try to change their minds with facts, it just doesn't work - it's like trying to teach your cat Spanish.

 

[Anonymous]

Liberals operate on FEELINGS, not FACTS. Thus, don't try to change their minds with facts, it just doesn't work - it's like trying to teach your cat Spanish.

You seem to forget who was driving the ship when it went aground- and who came crawling to the Congress and the people begging for the bailout and crying "impending doom" if he didn't get it....

A good chance if we hadn't had a total regime asleep at the wheel for 8 years this could have been seen months or years ago- and it would not have led to this type salvage operation.....

It will forever be known as the Bush Bailout-- part of the Bush Bust-- and another of the stacks of black marks on his Legacy....

 

[Sandhusker]

Liberals operate on FEELINGS, not FACTS. Thus, don't try to change their minds with facts, it just doesn't work - it's like trying to teach your cat Spanish.

You seem to forget who was driving the ship when it went aground- and who came crawling to the Congress and the people begging for the bailout and crying "impending doom" if he didn't get it....

A good chance if we hadn't had a total regime asleep at the wheel for 8 years this could have been seen months or years ago- and it would not have led to this type salvage operation.....

It will forever be known as the Bush Bailout-- part of the Bush Bust-- and another of the stacks of black marks on his Legacy....

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

 

[Bullhauler]

Liberals operate on FEELINGS, not FACTS. Thus, don't try to change their minds with facts, it just doesn't work - it's like trying to teach your cat Spanish.

You seem to forget who was driving the ship when it went aground- and who came crawling to the Congress and the people begging for the bailout and crying "impending doom" if he didn't get it....

A good chance if we hadn't had a total regime asleep at the wheel for 8 years this could have been seen months or years ago- and it would not have led to this type salvage operation.....

It will forever be known as the Bush Bailout-- part of the Bush Bust-- and another of the stacks of black marks on his Legacy....

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

 

[kolanuraven]

You seem to forget who was driving the ship when it went aground- and who came crawling to the Congress and the people begging for the bailout and crying "impending doom" if he didn't get it....

A good chance if we hadn't had a total regime asleep at the wheel for 8 years this could have been seen months or years ago- and it would not have led to this type salvage operation.....

It will forever be known as the Bush Bailout-- part of the Bush Bust-- and another of the stacks of black marks on his Legacy....

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

SMACK!!!!!

 

[Sandhusker]

You seem to forget who was driving the ship when it went aground- and who came crawling to the Congress and the people begging for the bailout and crying "impending doom" if he didn't get it....

A good chance if we hadn't had a total regime asleep at the wheel for 8 years this could have been seen months or years ago- and it would not have led to this type salvage operation.....

It will forever be known as the Bush Bailout-- part of the Bush Bust-- and another of the stacks of black marks on his Legacy....

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

Really? Bankers have been making home loans in this country ever since we were a colony. What changed?

 

[Anonymous]

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

Really? Bankers have been making home loans in this country ever since we were a colony. What changed?

Unregulated- unpoliced GREED......

 

[VanC]

You seem to forget who was driving the ship when it went aground- and who came crawling to the Congress and the people begging for the bailout and crying "impending doom" if he didn't get it....

A good chance if we hadn't had a total regime asleep at the wheel for 8 years this could have been seen months or years ago- and it would not have led to this type salvage operation.....

It will forever be known as the Bush Bailout-- part of the Bush Bust-- and another of the stacks of black marks on his Legacy....

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

Nobody held a gun to their heads, but they were required BY LAW to make bad loan after bad loan. It's a Democratic concoction called the Communty Reinvestment Act, and this whole mess can be traced back to it.

 

[Sandhusker]

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

Really? Bankers have been making home loans in this country ever since we were a colony. What changed?

Unregulated- unpoliced GREED......

Bankers got greedy all of a sudden? Just the last 15 years? And please, don't every try to talk about no regulations. Bankers have so dang many regulations that every bank of any size has a compliance department to keep up with everything.

 

[Bullhauler]

YOU seem to ignore that the captain of the ship tried to fix the problems before they blew up and that the Republican contingent of the Senate Banking Committee tried to fix it and correctly predicted what would happen if it wasn't fixed - but were shouted down along party lines.

I'm a registered Independent - I'm not a Republican. I can see what happened and who is responsible. This crap started with Democrats and their ill-thought everybody-gets-a-house policy and was continued when they thwarted any effort to install common sense. Now they're in denial when the predicted inevitable happened - and have the gall to point fingers at the guys that had it right.

Like I said, feelings, not facts. It feels better to blame the other guys instead of face the facts.

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

Nobody held a gun to their heads, but they were required BY LAW to make bad loan after bad loan. It's a Democratic concoction called the Communty Reinvestment Act, and this whole mess can be traced back to it.

If the banks were really required to make bad loans they should have been screaming their heads off about it. The fact is they didn't give a damn because they were pawning them off on someone else. I got a landlord that has a big bank in Florida. His bank is rated in the top five percent in the country. He said he was too conservative to make all those bad loans. He sure didn't say he had to make bad loans.

 

[Anonymous]

No it is pimply-assed bankers that caused the whole problem. Nobody held a gun to their head and forced them to make bad loan after bad loan.

Nobody held a gun to their heads, but they were required BY LAW to make bad loan after bad loan. It's a Democratic concoction called the Communty Reinvestment Act, and this whole mess can be traced back to it.

If the banks were really required to make bad loans they should have been screaming their heads off about it. The fact is they didn't give a damn because they were pawning them off on someone else. I got a landlord that has a big bank in Florida. His bank is rated in the top five percent in the country. He said he was too conservative to make all those bad loans. He sure didn't say he had to make bad loans.

Yep- Bullhauler, they didn't have to do anything- But GREED got to many of them- and they couldn't stand seeing their compadres profiteering on the nonregulated casino type lending and trading - and many GREEDILY followed along.....

 

[Soapweed]

I am aware of a what used to be a family-owned bank that sold out quite a few years ago. They could see all the new rules and regulations coming down the pike, and realized that they would no longer have much say in who got loans and who didn't. The interest rates would be the same whether the potential borrower was qualified to pay off the loan or not. They said "the heck with it" and bailed out while the gettin' was good.

 

[Sandhusker]

Bullhauler, "If the banks were really required to make bad loans they should have been screaming their heads off about it."

When is the last time that you read anything from the ABA lobby?

 

[TexasBred]

Bullhauler, "If the banks were really required to make bad loans they should have been screaming their heads off about it."

When is the last time that you read anything from the ABA lobby?

Bullhauler doesn't have a clue. Maybe he should go back and read the Community Reinvestment Act and go forward from there. Maybe he doesn't understand that banks can be given huge fines for violating this act and not making loans even when they know they will never be repaid. ACORN was even demanding these loans. As for spinning them off, it's common for banks etc. to put together a pool of loans and sell them. This is good business and has been going on for ages. "Mortgage Companies" never retain posession of loans they originate. Everything is sold. Bullhauler needs to do some banking from the other side of the desk before spouting off about something he knows nothing about. Ask your banker friend. That will be a good start.

 

[TSR]

Well you Rep./conservatives are in a good position then-the minority. You can do what you accuse the Dem.'s of doing while they were the minority-- You know blocking everything the Rep.'ss supposedly wanted passed to save our economy. Yeah right! I can still hear Bush and McCain saying how are economy is on firm gound/stable nothing to worry about-lets see that was about 3 weeks prior to the collapse. :???: :???: I think the majority of American's must have heard those same words.

 

[VanC]

There's no way Obama could have won this election if the economy hadn't turned south. Anyone with half a brain should be able to figure out that the whole economic downturn was orchestrated by the Democrats and the media to throw the election to Obama. Then they come up with a ridiculous bailout plan and blame it on Bush. The whole thing was really brilliant when you think about it.

 

[Anonymous]

There's no way Obama could have won this election if the economy hadn't turned south. Anyone with half a brain should be able to figure out that the whole economic downturn was orchestrated by the Democrats and the media to throw the election to Obama. Then they come up with a ridiculous bailout plan and blame it on Bush. The whole thing was really brilliant when you think about it.

Van- now you're starting to think like the "tinfoil" group...A massive left wing conspiracy to wreck the economy- which they knew Bush would then come up with a bailout (remember it was Bush/Paulson/Cox that came crawling to Congress with the Bailout)- and they twisted McCain and Bush's arms to stand up there like dummies and keep repeating "the fundamentals of the economy are strong" while the economy crumpled- and so in their plan made them win the election.... :???:

OY VAY-- Did they legalize Hemp in Illinois now too.. :???: :wink: :lol: