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How the Democrats Created the Financial Crisis
Go to the link below for a very simple overview of how the Democrats in Congress created this entire economy mess. Keep in mind that millions and millions in salary and especially bonuses were made by those in the management ranks at Fannie and Freddie, including Franklin Raines and Barney Frank’s boyfriend at the time.
There is not even a shadow of a doubt that this is the way in started, Republicans saw it coming and provided a fix in 2005 with that fix rejected by the Democrats. Without Freddie and Fannie financing and packaging this recession, possible depression on the way, would never have happened, period. I was in the banking industry my entire life and from the inside it was clear that something was going to happen - but we all thought that real estate would keep going up - well, it stopped going up and here we are. http://www.bloomberg.com/apps/news?p...d=aSKSoiNbnQY0 From the article - "It is a classic case of socializing the risk while privatizing the profit." In this case, the risk was socialized upon the American people. Americans will be paying for this long after we are all dead. |
CdC,
That article only address the problem in the last days before the meltdown. The problems were birthed by both the GOP and the Dems over many years. The Congress has been CREATING rights for years. Rights that cannot and will not ever actually exist. Congress recently found that EVERYONE has a "Right" to equal medical treatment. That phony "Right" will come back to haunt us in the near OR distant future. The RIGHT we do have is the opportunity to purchase good medical care. But that is current events. Years ago they determined that everyone had the "Right" to own their own home. Since the poor almost unanimously chose to ignore the opportunity their actual RIGHTS gave them. Our vote hungry Congresspeople invented a new "Right." And followed the counterfeit right with laws forcing lending institutions to make worthless loans. Inflation just hid the ridiculousness of their phony right passage for many years. BO's entire time in office will be spend building new 'active' volcanos that WILL erupt some time in future. Dan |
I sort of thought Jamo had announced we were reducing the political threads as people get into "an exchange" of personality traits.
Not that a good "swap of words" isn't good for a bag of popcorn, but it is too early for popcorn. :D :D |
Yeah, there is no reason that the GOP should bear any blame in this whatsoever - they only had a majority for 12 years and those evil Dems were secretly in control.
Don't forget - GOP poo don't stink!:rolleyes: Got the popcorn Tru? |
Read the article and comment about the article, it's best to keep biased opinions to yourself.
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The article is a biased opinion. That is the reason for this at the end: (Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.) It only takes a simple majority (which the GOP had) to move a bill out of committee. The GOP failed to do this when they had the chance, therefore using the argument put forth by the author then the GOP is responsible for this mess because they failed to outvote the DNC to get this bill out of committee. And McCain signing on to this bill as a co-sponsor over a year after it had died in committee is also a nice touch. I'm sure that strategy fooled some people into thinking that he was really doing something instead of just posturing. BTW, it would not surprise me to learn that Obama has done the same thing, but feel free to look it up if you need to prove it. Steve |
There are NO innocents in D.C. They are ALL sleazeballs. The difference is liberals are so far out of touch with reality they don't know they are lying. Conservatives are in touch with reality [loosely] but ignore it, and they know they are lying. Hobson's choice.
Power and RE-ELECTION is the only concern on both sides of the isle. SHORT term limits are now needed. That won't be problem free either, but we know the system isn't working the way it is now. Dan |
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Steve |
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In the short-term, what we really need is a divided government - hopefully, either the house or senate will be taken over by Republicans next year. |
Actually Steve, CDC has a point...I asked both of you to avoid each other for the sake of all mankind (matter and anti-matter don't mix muy goodo). It's his thread.
Thanks. :cool: |
Thanks, Jamo - much more could be said, but it's been said, over and over again.
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Don't let it go to your pretty little head. :p
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Of course, on the internet looks don't count but as luck would have it, God made me multi-talented as well, able to produce raw hints of sarcasm, cynicism and/or facetiousness with little effort. Of course, the intent of said placed whimsical nuances are often misinterpret; liberals and those on a high-horse (unfortunately) are generally confounded by such linguistic creativity. Life is good, if my threads can actually be liberal and high-horse free zones life will be better then good. Thanks to you. |
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My apologies. CdC invited comment on the article in this thread (and it sure seems like a repeat of a topic we've seen many times before), and I guess he didn't like me exposing it for the propaganda that it is. Whoops - my bad. Maybe if he cannot stand contrary opinions he should be posting on a blog rather than a forum. Pardon me for thinking that the danger of mixing anti-matter and matter was over. CdC sure acted like it was over in his recent posts as he kept following me around taking swings: http://www.clubcobra.com/forums/show...0&postcount=10 http://www.clubcobra.com/forums/show...47&postcount=8 http://www.clubcobra.com/forums/show...82&postcount=3 http://www.clubcobra.com/forums/show...5&postcount=19 I was also not aware that individuals, especially freeloaders, could 'own' threads and decide that specific individuals could post or not. It must be that new 'redistribution of wealth' math I keep reading about... I also acknowledge that it's not my forum, nor my rules, so I consider myself duly chastised. In the interest of saving the warp engines and your sanity I'll just join the ranks of people that have already CdC on their ignore list. Steve |
Thanks, VRM - that was my goal.
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This thread is another classic example of the low rode Cobra Club has taken...
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BTW, enjoy a couple of days off...coming back on and taking a stab is not muy goodo. :cool: |
I phuking said "Enough" and I meant it.
Steve...I was pretty damn clear when I posted (with a damn sticky) that we weren't going to accept any more remarks when somebody was moderated. You decided to post a lengthy commentary with links pointing at the other kid in the playground. You just grabbed your ass a week. CDC...your post a few up above mine? You were doing fine and should've kept quiet. You just bought yourself a week. Either of you e-mail or PM me whining about it, and I'll double it. Anyone here makes a remark about these actions, and they will buy themselves a week. Anybody doubting the resolve here? :cool: |
Well...since nobody else has anything to post, CLOSED.
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