Originally posted by: AFMatt
Originally posted by: sandorski
Originally posted by: AFMatt
The financial downfall.. Let's see, housing market crashes, banks go down with it, credit is in the crapper, and meanwhile the market loses 30%+ in 6 months. The housing market crash can't be attributed to Bush, because he and others saw it coming long ago and couldn't get agreement from some certain congressional leaders.
For the rest, well, unless Obama gets legislation passed that prevents people from artificially inflating the stock market to make way for a huge payouts, causing a rift that filters down to businesses, the lowly little people, and well just about everything due to so many things being based off investments, I guess he will also be blamed for the financial issues we will still have 4 years from now.
Of course, when people see the stock market coming down, they get scared because the future looks bleak and go into money defense mode and dont buy stuff. GM can't sell enough cars to make money, what does gov't have to do with that? GM also took a HUGE hit from the housing market crash through GMAC. Shoot, I think GM has posted billion dollar losses every quarter since 2004. Again, what does the gov't or Bush have to do with it?
AIG and the like.. Their downfall is obviously poor fiscal management and there was nothing the gov't could have done to prevent them from failing. They decided to play the credit swap game and got burned because they got greedy. Not the fault of Bush or Congress.
Then again, it is likely the market will stabilize at it's realistic levels and Obama will be praised for all the work he didn't really do. Either way, I am sick of watching that rescue plan $ figure rise every damn day.
BS
Sandorski, go ahead and show me
specific examples of policies or legislation that shows how Bush (or gov't in general) caused banks to go under, caused the stock market to come tumbling down, caused auto makers (GM, etc) to lose massive amounts of money, and caused AIG and similar firms to gamble away all their/our money in high risk ventures that lost.
Be specific, because all of this pointing fingers to the person who happens to be in office at the time truly deserves your response of "BS."
BTW, this has nothing to do with being "conservative". I dont recall ever saying I was a conservative and/or a Republican. I will say I do find it a bit odd people want to blame government, thus point the finger at Bush, but ignore the fact it didn't start caving in until a while after Democrats had the majority and has only continued to decline even faster since. So unless you can point to some legislation they (Dems) tried to pass that would have helped, but got killed by Bush, go ahead and put your finger down or just point it at all of them.