WHO REALLY CRASHED THE ECONOMY?

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  2. You have chosen to ignore posts from brat13. Show brat13's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    We're back to the classic Democrat vs. Republican debate.   Free enterprise needs to remain free.  Too much regulation can stifle and economy, but, when one group of bankers has the power to tank the economy single handedly, the Government is the only protection the people have.  Government much manage our economy to make sure we don't crash like we did last year.  It is avoidable, especially when you read about these credit default swaps.   Republicans preach deregulation, deregulation but you have to have some regulation in order to maintain some sort of security and stability.  
    Posted by Ltown1


    This would make sense IF the regulators weren't part of the problem. It was the House, Senate and WH that forced banks to write loans they KNEW wouldn't be repaid. Those same crooks (politicians) then wrote legislation that allowed the banks to pass of the bad loans by bundling them and selling them with FULL GOVERNMENT BACKING!

    Now you think the answer is the same crooks (politicians again) writing another peice of legislation to stop it? ROTFLMAO!

    When people wake up and realize ALL politicians are the problem and summarily get rid of ALL of them, then we will start to solve our problems. Term limits are the ONLY way "We the People" will ever get control back. And as long as people have the party blinders on and vote D or R no matter what that will never happen.
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    Didn't I read a few days ago that, for all the talk, the Senate has yet to have a single hearing about financial regulations and controls?  Maybe they don't think it's important yet?
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    In Response to Re: WHO REALLY CRASHED THE ECONOMY? : I seem to remember Robert Rubin doing cartwheels behind Bill Clinton when he signed that legislation in front of every camera they could buy.
    Posted by GreginMeffa


    After Rubin helped Citi group to repeal the Glass-Steagall Act ... suddenly Rubin was given a high profile Citi job  hmmmmmm...
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    Is not that hard to figure out how the housing/credit crisis crashed the economy


    What happened in the 90's that cause the rate to shoot up?

    There was a concerted efford to make it easy for people to have homes even those that normally would not qualify
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    Didn't I read a few days ago that, for all the talk, the Senate has yet to have a single hearing about financial regulations and controls?  Maybe they don't think it's important yet?
    Posted by easydoesit2


    I hear on the radio every day East/West advertising no doc, no $$ down loans. The very loans that lead to the crash. It is insane!
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    Look at it from an business executive POV..

    The gov't says you can (ex: write off Bad debts up to $100B, or hedge 130% of your assets in foreign currency..)

    If you don't do things to the full extent provided by law, you as the CEO gets canned and the Stockholders will replace someone with someone that will take these measures.

    The gov't enacted legislation to enforce companies to make loans to people they knew could not realistically afford their loans (especially with ARMs) and the result was this catastrophe.
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    In Response to Re: WHO REALLY CRASHED THE ECONOMY? : After Rubin helped Citi group to repeal the Glass-Steagall Act ... suddenly Rubin was given a high profile Citi job  hmmmmmm...
    Posted by IamYourDaddy


    ding!

    Ah, but the republicans did it.  Yea!
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    Another little piece of hard evidence dems like to ignore!

    http://www.youtube.com/watch?v=hxMInSfanqg&feature=PlayList&p=A4A8936DE66A4D18&playnext=1&playnext
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    Dubbie IGNORED the fact and didn't admit there was a problem till his last month in office! Only then did he started the bailout program.

    Meanwhile everyone who works and contributes to a 401 knows the recession started in 2001.

    You can throw out your economic rules to what a recession is but the rest of us who lose jobs, watch our 401s deplete, see our neighbors losing work, listen to the lower wage workers struggling don't need to be hit over the head to understand  there was/is a problem.

    You dont have to be a money genius to get it.
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    Bush WAS it.
     
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    Re: WHO REALLY CRASHED THE ECONOMY?

    thanks for the laughs, all of you blaming Barney Frank (and for the various misspellings of the man's name too).  One person alone, particularly one who didn't have a committee chairmanship until well after the foreclosure crisis started, is short sighted.  Just because Bill O'Reilly, Sean Hannity, Glenn Beck or Mike Huckabee says so doesn't make it true!  Sorry, it was greed, deregulation and more greed, letting the health of the economy rest on real estate that brought it down.  And allowing mortgages to be bundled and sold as securities, which meant banks and brokers could sell loans off faster, make their money and have no skin in the game, so they'd lend to anyone with a pulse, because when it all crashed, they'd be long out of the game. 

    Right, it's all Barney Frank's fault....okay.
     
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