Just thought I would put that out there again. Obama needs to quit lying about this. As much as I do not like Bush, this is not his fault. Subprime lending baby, do some research and you will see. Frank, Dodd, etc........... Thanks guys.
Your research and detail are exemplary. You continue to be an invaluable source of information and insight.
True - Clinton in 1999 signed the bill encouraging lenders to loan to people with poor credit thus initializing the sub-prime mess.
Yes, and the republicans spearheaded the financial deregulation and torpedoed suggestions to regulate derivatives. No single party is to blame, alas, as I'd be first in line with my torch and pitchfork if there were any one person or party to go after.
You are delusional. We all have a stake in this - from the people taking the loans, to the unregulated lenders, to Congress, to the Federal Reserve Bank lack of initiative - all of us.
If you voted for a democrat you are to blame. They fought for loans to be given to people that should have never got one to begin with. They screwed us over. If you voted for a republican you are to blame. They fought for deregulation of a market that should have had more oversight. They screwed us over. Can we stop pointing fingers now?
Wasn't the bill Clinton signed passed through a Republican legislature? Why yes....I think it was.... I think there's enough blame to go around.
With the largest percentage of mortgages going default in the rust belt due to the Big 3 moving operations overseas and to Mexico, we can thank NAFTA, trickle down economics, and a butterfly in Peru for everything.
Mr. Wizard, I don't understand why you were such a big Hillary Clinton supporter in the primaries. What did you like about her and her policies? It seems you dislike the whole Democratic Party and positions.
the dems did not start the deregulation that caused this problem. it's been a problem for more then 3 yrs.. the Dems in congress less then 2 yrs.The Republican Adminis of Ronald Reagan, Bush, G.W. Bush and the Rep controlled Congress during the G.W.'s term have been systematically dismantling the regulations put into place in the aftermath of the Great Depression.
I found this crumpled up i Mr. Wizard's garbage can, while, like all good De4mocrats, I was dumpster diving to keep me in beans until my welfare check arives: RUSH: From Operation Chaos headquarters, I am commander Rush Limbaugh, here at the Excellence in Broadcasting Network, the Limbaugh Institute for Advanced Conservative Studies. Great to be with you, ladies and gentlemen. Operation Chaos, we can safely say, is now exceeding all objectives. Would you turn up the theme music? I can barely hear it out there. We might have a mix minus problem. There we go. Much, much better. And now it's gone, as soon as I ask for it to be turned up, now it's gone. Yes, Operation Chaos is exceeding all objectives, ladies and gentlemen. This is just amazing. I just got today's audio sound bite roster. Let me just give you the headlines here: Drive-Bys discuss Limbaugh critique of Obama. We've got an anti-Obama preacher from Harlem today. You have just got to hear this. Obama on Nightline, the candidate of race, because I said that yesterday. Deval Patrick, the governor of Massachusetts equates the Reverend J. Wright to talk radio. Feminist icon, "I will not vote with my vagina," on Hardball last night. They had a big debate over the Limbaugh Effect and Operation Chaos. Bob Schieffer has been asked about Operation Chaos and finds it fascinating. Bob Beckel has proposed a plan to counter Operation Chaos. Obama is burning cash fighting Operation Chaos. Here's the latest poll numbers. "Barack Obama's big national lead over Hillary Clinton has all but evaporated in the U.S. presidential race, and both Democrats trail Republican John McCain, according a Reuters/Zogby poll released on Wednesday. The poll showed Obama had only a statistically insignificant lead of 47 percent to 44 percent over Clinton, down sharply from a 14 point edge he held over her in February. ... The poll showed Arizona Sen. McCain, who has clinched the Republican presidential nomination, is benefiting from the lengthy campaign battle between Obama and Clinton." Well, yes, which was the primary purpose of Operation Chaos. (laughing) Folks, we are doing it! Do you realize, we are doing it! Things are happening out there on our terms. Why, this is just fabulous. "McCain leads 46 percent to 40 percent in a hypothetical matchup against Obama in the November presidential election, according to the poll. That is a sharp turnaround from the Reuters/Zogby poll from last month, which showed in a head-to-head matchup that Obama would beat McCain 47 percent to 40 percent. ... Matched up against Clinton, McCain leads 48 percent to 40 percent, narrower than his 50 to 38 percent advantage over her in February. 'It's not surprising to me that McCain's on top because there is disarray and confusion on the Democratic side,' Zogby said." Wait a minute. McCain's on top means Hillary's on bottom. We were told Hillary will never be on bottom, particularly when it comes to this dream ticket. "The poll showed Obama continues to have strong support from the African-American community but that he is experiencing some slippage among moderates and independents. Among independents, McCain led for the first time in the poll, 46 percent to 36 percent over Obama. He was behind McCain by 21 percent among white voters. Zogby attributed this to a combination of the fallout from Clinton's victory in Ohio earlier this month and the controversy over Wright's sermons. 'And, just the closer he gets to the nomination, the tougher questions whites ask about an African-American candidate,' Zogby said." In Pennsylvania, Senator Clinton has widened her lead over Senator Obama. This is according to a Quinnipiac University poll that was released late yesterday. "Senator Clinton now leads Senator Obama 53-41% among likely primary voters, and in the latest survey, the split between black and white voters has grown. Senator Clinton has widened her lead among women, likely Democrat primary voters, and narrowed Senator Obama's lead among men." Again, this now is in Pennsylvania. Clay Richards, who runs the Quinnipiac poll, said, "The momentum is clearly Senator Clinton's as she firms up her traditional coalition of women, white males, noncollege, rural and older voters in Pennsylvania." Not stupid, just uneducated. So, Operation Chaos is exceeding all objectives. It's now gotten to the point that the Drive-By Media is having debates about it and what to do to stop it, and how to counter it, which is only going to increase the effectiveness of Operation Chaos. The Link
Deregulation didn't cause this crisis. Who bought the toxic mortgages? US INvestment banks, REGULATED by the SEC US Commercial banks REGULATED by several agencies including the Fed Euro banks which have supposedly more up-to-date supervision contrast that to hedge funds which are very lightly regulated and for the most part stayed away from buying toxic waste There were many willing buyers and all WERE regulated. One last point. Banks HAD to make loans that they knew would fail IF banks wanted to expand or buy another bank or merge. They were required to have made minority loans or they would not be approved to expand. Even a charge of discrimination or redlining would halt an application for expansion. ACORN used this tactic very well, sometimes in subtle ways, other times with thug tactics. so people who try to blame this on deregulation are misguided and would do well to do some research.
