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New study confirms economy was destroyed by Democrat policies

  1. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: New study confirms economy was destroyed by Democrat policies

    In response to 12-Angry-Men's comment:

    In the six years leading up to the finacial fiasco, the years that the wingnuts held all the levers in Washington, with control of the Whitehouse and both chambers of Congress, all heck breaks loose... but it was everyone else's fault but the people in charge.

    Yep, that kool-aide is some powerful stuff....makes ya ignore reality and everything.



    In the more than 4 years SINCE the housing meltdown , the years that the moonbats held all the levers in Washington, with 2 full years of control of the Whitehouse and both chambers of Congress, all heck breaks loose... worst economic recovery from a recession in US history, massive deficits, massive expansions in government handouts....

    ...but it was everyone else's fault but the people in charge.

    Yep, that kool-aide is some power ful stuff....makes ya ignore reality and everything.

     
  2. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: New study confirms economy was destroyed by Democrat policies

    The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street's largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.

    Christopher Cox, the commission chairman, said he agreed that the oversight program was "fundamentally flawed from the beginning."

    "The last six months have made it abundantly clear that voluntary regulation does not work," he said in a statement. The program "was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily. The fact that investment bank holding companies could withdraw from this voluntary supervision at their discretion diminished the perceived mandate" of the program, and "weakened its effectiveness," he added.

     
  3. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: New study confirms economy was destroyed by Democrat policies

    The former Federal Reserve chairman, Alan Greenspan, has conceded that the global financial crisis has exposed a "mistake" in the free market ideology which guided his 18-year stewardship of US monetary policy.

    A long-time cheerleader for deregulation, Greenspan admitted to a congressional committee yesterday that he had been "wrong" in his hands-off approach towards the banking industry and that the credit crunch had left him in a state of shocked disbelief. "I have found a flaw," said Greenspan, referring to his economic philosophy. "I don't know how significant or permanent it is. But I have been very distressed by that fact."

     
  4. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: New study confirms economy was destroyed by Democrat policies

    ibid.

     
  5. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: New study confirms economy was destroyed by Democrat policies

    Can someone show me where CRA required investment banks to mixed the sub prime mortgages with prime mortgages, divide them up, remix them over and over again until it was impossible to separate the two, and then finance the mortgage backed securities with overnight borrowing?

    and show me where AIG was forced to insure the mortgage backed securities?

    silly, silly righties.  Even if CRA did cause the housing bubble, which it didn't, and cause the collapse of the housing market, which it didn't, it still wouldn't explain why the entire banking system collapsed, not just in the US, but in the entire world.

    in fact, most of the big banks were OK until they started buying mortgage companies and S and Ls.  Bank of America was in good shape, until it bought Countrywide.  And Wacovia was in great shape until it bought that S and L on the west coast (the one that pioneered the ARM and interest only mortgage).

    I in no way fell under CRA, yet I had brokers offering me Refis with repayment schedules that did not cover the interest payment.

     

     
  6. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: New study confirms economy was destroyed by Democrat policies

    In response to ComingLiberalCrackup's comment:

    In response to 12-Angry-Men's comment:

    In the six years leading up to the finacial fiasco, the years that the wingnuts held all the levers in Washington, with control of the Whitehouse and both chambers of Congress, all heck breaks loose... but it was everyone else's fault but the people in charge.

    Yep, that kool-aide is some powerful stuff....makes ya ignore reality and everything.



    In the more than 4 years SINCE the housing meltdown , the years that the moonbats held all the levers in Washington, with 2 full years of control of the Whitehouse and both chambers of Congress, all heck breaks loose... worst economic recovery from a recession in US history, massive deficits, massive expansions in government handouts....

    ...but it was everyone else's fault but the people in charge.

    Yep, that kool-aide is some power ful stuff....makes ya ignore reality and everything.



    Just proves you are clueless. this wasn't some run of the mill republican caused recession.  This was the worst situation since the great depression. 

     
  7. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: New study confirms economy was destroyed by Democrat policies

    In response to ComingLiberalCrackup's comment:

    In the more than 4 years SINCE the housing meltdown , the years that the moonbats held all the levers in Washington, with 2 full years of control of the Whitehouse and both chambers of Congress, all heck breaks loose... worst economic recovery from a recession in US history, massive deficits, massive expansions in government handouts.... ...but it was everyone else's fault but the people in charge. Yep, that kool-aide is some power ful stuff....makes ya ignore reality and everything.



    Typical whacko wingnut guttersniping.

    They run the economy into a ditch, the likes of which haven't been seen in almost a century, and then complain when the Dems can't fix their fcuk-ups quick enough, all the while obstructing any effort at recovery.

    Freakin Hilarious!!!!

     
  8. This post has been removed.

     
  9. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: New study confirms economy was destroyed by Democrat policies

    In response to Newtster's comment:

    You guys are doing just what the ruling elite want you to do - assume that one party or the other is to blame for the mess. THat way you avoid talking about the real cause of the problem. They have set up a situation with banks that they would never do for some other industry. The  Fed - owned by the member banks - is nothing but a legal cartel. They have the power to print money, set interest rates, buy up the bankers' mistakes (toxic assets and MBS), hand out $trillions in near zero % loans to their members so they can buy US gov't. debt at a higher rate and keep the spread. They donate billions to politicians, hire them when they retire, hire their family members, give politicians sweetheart loans. Is it any wonder that as our government gets deeper and deeper in debt that the FInancial Industry gets away with murder? That is because the gov't needs the banks to fund their RICO like operation. The politicans become rich at the expense of the public. They have a marvelous gravy train running and they don't want you messing it up. THe moonbats fighting with wingnuts suits them fine.




     

    No doubt theres plenty of blame to go around but the whacko wingnut attempts to rewrite history are just plain ridiculous.

    Whacko wingnuts love to attack Obama on everything bad that has happened since he put his hand on a bible beginning on Jan 20th, yet they want to absolve themselves of any responsibility during the 8 yrs they held every branch of the federal gov't leading up to the fiscal fiasco.

    As for no bankers being charged... That is primarily a result of the laissez faire environment under the baby-Bush administration. Since baby-Bush created a 'self-regulating' banking environment within which these financial businesses operated, the banks wrote their own rules. That means that technically they didn't break federal law because there were no federal laws in place to regulate them. They operated without federal constraints. You can't punish people who were working under the rules set up by the administration. Where they greedy, manipulative and ruthless? Yep, but that is what a free market is designed to do. No rules, no boundries just a relience on the unseen hand of the market. Newsflash, markets don't come with principals and a conscience, that's the void that proper regulations are designed to fill.

    So you can't champion the 'free market' and then complain about the results such a system has wrought. Wall St operated in the closest thing to a free market that baby-Bush could allow with his self-regulation policies and the results speak for themselves. The head of the SEC declared self-regulation a failure and Greenspan said his confidence in free market principals was wrong.

    Baby_Bush and the wingnuts wanted to let the foxes run the henhouse and now they act surprised when so many chickens have been killed.

     
  10. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: New study confirms economy was destroyed by Democrat policies

    In response to 12-Angry-Men's comment:

    In response to Newtster's comment:

    You guys are doing just what the ruling elite want you to do - assume that one party or the other is to blame for the mess. THat way you avoid talking about the real cause of the problem. They have set up a situation with banks that they would never do for some other industry. The  Fed - owned by the member banks - is nothing but a legal cartel. They have the power to print money, set interest rates, buy up the bankers' mistakes (toxic assets and MBS), hand out $trillions in near zero % loans to their members so they can buy US gov't. debt at a higher rate and keep the spread. They donate billions to politicians, hire them when they retire, hire their family members, give politicians sweetheart loans. Is it any wonder that as our government gets deeper and deeper in debt that the FInancial Industry gets away with murder? That is because the gov't needs the banks to fund their RICO like operation. The politicans become rich at the expense of the public. They have a marvelous gravy train running and they don't want you messing it up. THe moonbats fighting with wingnuts suits them fine.




     

    No doubt theres plenty of blame to go around but the whacko wingnut attempts to rewrite history are just plain ridiculous.

    Whacko wingnuts love to attack Obama on everything bad that has happened since he put his hand on a bible beginning on Jan 20th, yet they want to absolve themselves of any responsibility during the 8 yrs they held every branch of the federal gov't leading up to the fiscal fiasco.

    As for no bankers being charged... That is primarily a result of the laissez faire environment under the baby-Bush administration. Since baby-Bush created a 'self-regulating' banking environment within which these financial businesses operated, the banks wrote their own rules. That means that technically they didn't break federal law because there were no federal laws in place to regulate them. They operated without federal constraints. You can't punish people who were working under the rules set up by the administration. Where they greedy, manipulative and ruthless? Yep, but that is what a free market is designed to do. No rules, no boundries just a relience on the unseen hand of the market. Newsflash, markets don't come with principals and a conscience, that's the void that proper regulations are designed to fill.

    So you can't champion the 'free market' and then complain about the results such a system has wrought. Wall St operated in the closest thing to a free market that baby-Bush could allow with his self-regulation policies and the results speak for themselves. The head of the SEC declared self-regulation a failure and Greenspan said his confidence in free market principals was wrong.

    Baby_Bush let the foxes run the henhouse and now act surprised when so many chickens have been killed.




    Conservativeswere never behind Bush.  You seem to forget that.  Bush was against every issue conservatives cared about:  illegal immigration, government spending, the two wars (at least some conservatives), and intrusive government.

    On the wars, many conservatives made common cause wit hliberals.  This is forgotten.

    With spending, TARP in particular, money was poured out to liberal industries and institutions, only second to the Obama stimulus.

    If you are going to reference Bush, reference him honestly, as the person he was, an establishment republican, i.e. liberal.

     
  11. This post has been removed.

     
  12. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: New study confirms economy was destroyed by Democrat policies

    In response to Newtster's comment:

    You have to get some facts straight on what the banks and the mortgage companies did. They committed fraud. The fraud they perpetrated is no kind of "free market" operation. It is a crime. IT was a crime when Bush was President and it was a crime as Obama is President today. It has nothing to do with regulations being softened - which no doubt they were as the bankers threw money at politicians to get their way. YOu are blind as a bat. You fall right in line with the brain dead political hacks who think their guys do no wrong and even if they did it was for the cause so you do not care. It is you fox that is killing the chickens now and you are making excuses and looking the other way. Google William Black and listen to one of his talks. He was the regulator in charge of investigating savings and loans during the early 90s. Then come back and tell me that it was only the Republicans to blame and the Democrats have no culpability. You are full of fecal matter as usual.


    Can you name a specific case of fraud?
    Exactly which laws were violated and how?

     
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