T Nation

DUMBACRATS Caused the 'Financial Crisis'

Watch this…

The actions by the democrats this past week and couple of years are disgusting.

[quote]LeanCleanGuy wrote:
Watch this…

http://www.youtube.com/watch?v=H5tZc8oH--o

The actions by the democrats this past week and couple of years are disgusting.[/quote]

That thing was so big how do you lay that on the dems, why not on everybody ?

[quote]pittbulll wrote:
LeanCleanGuy wrote:
Watch this…

http://www.youtube.com/watch?v=H5tZc8oH--o

The actions by the democrats this past week and couple of years are disgusting.

That thing was so big how do you lay that on the dems, why not on everybody ?

[/quote]

Not everyone was involved. Who were the early whistle blowers? Who were the defenders of these institutions?

But, but… Bush did it. I mean, that’s what Obama, Pelosi, Frank, and Reid keep telling us. Do you mean that they are LYING to us?

[quote]LeanCleanGuy wrote:
Watch this…

http://www.youtube.com/watch?v=H5tZc8oH--o

The actions by the democrats this past week and couple of years are disgusting.[/quote]

The Community Reinvestment Act is only part of the problem. All of your government leaders are to blame for this one. Everyone in government has fought for the right of home ownership for people that should not be able to own homes.

The real culprit in all of this is the Federal Reserve. It makes cheap and easy credit available to investors that would not otherwise be there if banks were to rely on there own reserves. This allows misdirection of capital into sectors of the economy that are not financially prudent (subprime lending, for example) creating what is known as a bubble. Eventually when the Fed eases off credit to keep prices from plunging it has a tightening effect which can cause the bubble to burst.

All business cycles since the creation of the Federal Reserve in 1913 can be viewed in this light. The two most recent are the tech stock burst in 2000 and the subprime mortgage burst in 2007. Credit was very fast and easy after 9/11 so I would expect to see more banking collapses in the near future. For a better explanation see Nobel laureate F. A. Hayak’s, “Monetary Theory and the Trade Cycle.”

The best thing that can happen at this point is to allow all malinvestments to fail so that capital can be redirected back into more productive industries. I suspect that will not be allowed to happen since all the power elite on Wall Street went screaming to Big Brother for a bailout.

[quote]skaz05 wrote:
But, but… Bush did it. I mean, that’s what Obama, Pelosi, Frank, and Reid keep telling us. Do you mean that they are LYING to us?[/quote]

I came to the conclusion years ago watching and reading long research on exit polls during the 92 cycle that an alarmingly large block of people in this country who are actually voting are worse than absolutely clueless, maybe about what planet they’re on and what year it is never mind reaching a considered critical conclusion on some thing like this.

It is truly inspiring when folks answer a series of policy questions and then when asked who they voted for they say they voted for the candidate who holds exactly the opposite of all the positions their answers to the policy questions indicate.

Hearing what, if they had to pick one thing, was the final motivating factor in their choice will give you nightmares.

Sorry ladies, but the women get a special achievement award for substanceless idiocy in this category. I stood in speechless awe at the answers I heard from women who voted for Bill Clinton. "[quote]he looks like he could get things done around the house[/quote] or [quote]he reminds me of my son[/quote] or [quote]he’s the sexiest man I’ve ever seen[/quote] or the utterly classic [quote]he makes feel good when I hear him speak[/quote] as examples.

I kid you not.

What’s the point?

Don’t expect much more than [quote]Bush was president so it’s his fault[/quote] from today’s brain dead citizens.

Bush’s Ownership Society.

[quote]Tiribulus wrote:
skaz05 wrote:
But, but… Bush did it. I mean, that’s what Obama, Pelosi, Frank, and Reid keep telling us. Do you mean that they are LYING to us?

I came to the conclusion years ago watching and reading long research on exit polls during the 92 cycle that an alarmingly large block of people in this country who are actually voting are worse than absolutely clueless, maybe about what planet they’re on and what year it is never mind reaching a considered critical conclusion on some thing like this.

It is truly inspiring when folks answer a series of policy questions and then when asked who they voted for they say they voted for the candidate who holds exactly the opposite of all the positions their answers to the policy questions indicate.

Hearing what, if they had to pick one thing, was the final motivating factor in their choice will give you nightmares.

Sorry ladies, but the women get a special achievement award for substanceless idiocy in this category. I stood in speechless awe at the answers I heard from women who voted for Bill Clinton.

"he looks like he could get things done around the house or he reminds me of my son or he’s the sexiest man I’ve ever seen or the utterly classic he makes feel good when I hear him speak as examples.

I kid you not.

What’s the point?

Don’t expect much more than Bush was president so it’s his fault from today’s brain dead citizens. [/quote]

Unfortunately for our country what you say is true. When it comes to the current problem I have very little confidence if any, that people will figure out who was really defending and protecting fannie and freddie - the real culprits who started this virus and spread it throughout the market.

It is right there on a silver platter for McCain to beat Obama to death with it in the next debate - but will he do it? I have to admit I am not very confident right now.

http://www.youtube.com/watch?v=_MGT_cSi7Rs&eurl=http://hotair.com/archives/2008/09/29/video-democrats-insist-nothing-wrong-at-fannie-mae-freddie-mac-in-2004/

Whoa…

[quote]skaz05 wrote:
http://www.youtube.com/watch?v=_MGT_cSi7Rs&eurl=http://hotair.com/archives/2008/09/29/video-democrats-insist-nothing-wrong-at-fannie-mae-freddie-mac-in-2004/

Whoa…[/quote]

Damn. Even Clinton giving some credit to the Repubs?!