Lonecowboy said:this has been explained to oldtimer so many times- and yet he still can not comprehend it! :shock:
Many dumb practices and policies led to this, but few were as egregious as the role of Fannie Mae and Freddie Mac. The Bush Administration saw this coming in 2003 and pushed to reform Fannie’s and Freddie’s practices, but they were stymied in Congress – primarily by Democrats Christopher Dodd in the Senate and Barney Frank in the House, who both insisted there was nothing wrong with what Fannie and Freddie were doing.
Did deregulation of financial institutions cause this? No. The idea that Republicans under Bush deregulated like mad is pure fiction. I wish it were the truth! We would all have been a lot better off. The mortgage market collapsed because it was built on a house of cards to begin with, and that house of cards exploited a lot of poor people by encouraging them to take on debt they were not prepared to handle. A lot of them spent thousands on mortgage payments only to lose their homes in the end because they could not afford their obligations. They ended up with no equity whatsoever. These folks would have been better off living in apartments and paying rent that fit within their budgets.
Perhaps the cruelest irony of all is that the federal government responded to this with an act that tightened the screws on banks – introducing all kinds of new requirements and regulations that did nothing to make things better. And what was this new act called? Dodd-Frank. That’s right. The two Democrats who prevented the reform of Fannie and Freddie back in 2003 got to write the big new law that has predictably made things worse, and even got to put their names on it.
Kato said:Geeezzzz............ This site has gotten so nasty, personal, and political that it's not even fun coming here any more.
So here's my opinion on it all... Republicans can blame Democrats, and Democrats can blame Republicans, but it won't make any difference.
The economy is run by the big banks, and the same pirates that were in charge during the Bush years are still in charge during the Obama years. They've bought the politicians, they've plundered the economy, and they're still making out like bandits today.
And the American people spend their time calling each other names and fighting about what some politician has or hasn't done, while actually the politicians can't get a darn thing done unless the bankers say so.
Start talking to each other instead of just calling each other names like a bunch of children. IT IS NOT A SIGN OF WEAKNESS TO LISTEN TO EACH OTHER. There is such a thing as middle ground, and meeting in the middle for the good of the country is not against the law. There's a bigger prize than "being right". That prize is the future of your country. Don't just argue with each other while it slips away. See the bigger picture.
Elect someone who can audit the Fed, clean up the corruption, and put the running of the country back into the hands of the citizens and then there may be a chance.
As Haymaker says... good luck.
Kato said:Geeezzzz............ This site has gotten so nasty, personal, and political that it's not even fun coming here any more.
So here's my opinion on it all... Republicans can blame Democrats, and Democrats can blame Republicans, but it won't make any difference.
The economy is run by the big banks, and the same pirates that were in charge during the Bush years are still in charge during the Obama years. They've bought the politicians, they've plundered the economy, and they're still making out like bandits today.
And the American people spend their time calling each other names and fighting about what some politician has or hasn't done, while actually the politicians can't get a darn thing done unless the bankers say so.
Start talking to each other instead of just calling each other names like a bunch of children. IT IS NOT A SIGN OF WEAKNESS TO LISTEN TO EACH OTHER. There is such a thing as middle ground, and meeting in the middle for the good of the country is not against the law. There's a bigger prize than "being right". That prize is the future of your country. Don't just argue with each other while it slips away. See the bigger picture.
Elect someone who can audit the Fed, clean up the corruption, and put the running of the country back into the hands of the citizens and then there may be a chance.
As Haymaker says... good luck.
Oldtimer said:Kato said:Geeezzzz............ This site has gotten so nasty, personal, and political that it's not even fun coming here any more.
So here's my opinion on it all... Republicans can blame Democrats, and Democrats can blame Republicans, but it won't make any difference.
The economy is run by the big banks, and the same pirates that were in charge during the Bush years are still in charge during the Obama years. They've bought the politicians, they've plundered the economy, and they're still making out like bandits today.
And the American people spend their time calling each other names and fighting about what some politician has or hasn't done, while actually the politicians can't get a darn thing done unless the bankers say so.
Start talking to each other instead of just calling each other names like a bunch of children. IT IS NOT A SIGN OF WEAKNESS TO LISTEN TO EACH OTHER. There is such a thing as middle ground, and meeting in the middle for the good of the country is not against the law. There's a bigger prize than "being right". That prize is the future of your country. Don't just argue with each other while it slips away. See the bigger picture.
Elect someone who can audit the Fed, clean up the corruption, and put the running of the country back into the hands of the citizens and then there may be a chance.
As Haymaker says... good luck.
AMEN Kato.... I can't believe that these folks are looking thru such rose colored glasses and are so gullible that just because someone from the right dreams up an excuse- they immediately back it....
I saw some refreshing attitudes the other day- in talking to some young businessmen who are staunch R cult followers-- but can see exactly what you said about the banks and worlds financial world...
Mike said:Oldtimer said:Kato said:Geeezzzz............ This site has gotten so nasty, personal, and political that it's not even fun coming here any more.
So here's my opinion on it all... Republicans can blame Democrats, and Democrats can blame Republicans, but it won't make any difference.
The economy is run by the big banks, and the same pirates that were in charge during the Bush years are still in charge during the Obama years. They've bought the politicians, they've plundered the economy, and they're still making out like bandits today.
And the American people spend their time calling each other names and fighting about what some politician has or hasn't done, while actually the politicians can't get a darn thing done unless the bankers say so.
Start talking to each other instead of just calling each other names like a bunch of children. IT IS NOT A SIGN OF WEAKNESS TO LISTEN TO EACH OTHER. There is such a thing as middle ground, and meeting in the middle for the good of the country is not against the law. There's a bigger prize than "being right". That prize is the future of your country. Don't just argue with each other while it slips away. See the bigger picture.
Elect someone who can audit the Fed, clean up the corruption, and put the running of the country back into the hands of the citizens and then there may be a chance.
As Haymaker says... good luck.
AMEN Kato.... I can't believe that these folks are looking thru such rose colored glasses and are so gullible that just because someone from the right dreams up an excuse- they immediately back it....
I saw some refreshing attitudes the other day- in talking to some young businessmen who are staunch R cult followers-- but can see exactly what you said about the banks and worlds financial world...
You're a fine one to be talking about someone else following blindly. :roll:
Are you really as stupid as you seem?
4Diamond said:Gas prices tanked the economy plain and simple....