Do you blame Bush for this financial disaster of a mess ?

[joesmoke]

Originally posted by: sonambulo

Originally posted by: Capt Caveman

Those God Damn Cat People!!!!!

There's a Planet of the Apes musical joke somewhere in here but I just can't seem to rub it out into my post.

That sounds vastly painful...

edit: Oh ya, I blame Palin's hussy daughter

 

[JS80]

Originally posted by: nakedfrog

Originally posted by: JS80
Here's the chain of command to blame:

1) the sleazy salesman who sold the shit loans
2) the worthless customer who took out 100% financing with liar loans
3) the greedy ass investment banks that packaged the loans together
4) the greedy ass investment banks that borrowed 30x their equity and bought and sold these loans
5) short sellers
6) Obama

:laugh:
There's no doubt that you are a dedicated partisan hack!
We agree apart from that, though.

Hey I had to take my shot

 

[Aikouka]

Originally posted by: KLin
Those damn producers and all of their shows!!! Bastards, all of them! :|

Even Mel Brooks!?

 

[SirStev0]

Originally posted by: waggy
no. it has more to do then bush, or even congress. its more about greed and lack of careing what can happen when the administration encourages it..

Fixed.

 

[JS80]

Originally posted by: Queasy

Originally posted by: jonks
Bush alone, no. but ask yourself which party pushes for deregulation and wants to just let the market balance itself out, and which party wants enhanced regulation because it doesn't trust the top shelf of banking execs who get paid $20M even when they are fired for gross incompetence/negligence

Link - The Bush Admin tried to reform Freddie Mac and Fannie Mae five years ago. Dems blocked it.

Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

?These two entities ? Fannie Mae and Freddie Mac ? are not facing any kind of financial crisis,? said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ?The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.?

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

?I don?t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,? Mr. Watt said.

jonks = pwned

 

[CKent]

This is blatantly a P&N topic, but yes I do.

 

[sonambulo]

Originally posted by: joesmoke

That sounds vastly painful...

edit: Oh ya, I blame Palin's hussy daughter

She may be a hussy but if she's only 2nd trimester by the time she hits 18 I would/will still smash.

 

[waggy]

Originally posted by: SirStev0

Originally posted by: waggy
no. it has more to do then bush, or even congress. its more about greed and lack of careing what can happen when the administration encourages it..

Fixed.

as you can see by other post the admin tried to stop it.

 

[nakedfrog]

Originally posted by: Queasy

Originally posted by: jonks
Bush alone, no. but ask yourself which party pushes for deregulation and wants to just let the market balance itself out, and which party wants enhanced regulation because it doesn't trust the top shelf of banking execs who get paid $20M even when they are fired for gross incompetence/negligence

Link - The Bush Admin tried to reform Freddie Mac and Fannie Mae five years ago. Dems blocked it.

Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

?These two entities ? Fannie Mae and Freddie Mac ? are not facing any kind of financial crisis,? said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ?The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.?

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

?I don?t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,? Mr. Watt said.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
[...]
The administration's proposal, which was endorsed in large part today by Fannie Mae and Freddie Mac, would not repeal the significant government subsidies granted to the two companies. And it does not alter the implicit guarantee that Washington will bail the companies out if they run into financial difficulty; that perception enables them to issue debt at significantly lower rates than their competitors. Nor would it remove the companies' exemptions from taxes and antifraud provisions of federal securities laws.

Stupid big government tax-and-spend Democrats!

 

[Turin39789]

fucking p and fucking n

fucking again

 

[JDub02]

i blame pretty much everyone in washington (republicans and democrats) for a) rewarding failure with bailouts and b) not prosecuting some people who should be in jail (barney fwank, chris dodd, and the CEO's of fannie mae, freddie mac). it's just one giant self-preservation scheme in washington. they just cook the books and print/borrow more money to get themselves through the next election. makes me sick.

 

[sonambulo]

Originally posted by: Turin39789
fucking p and fucking n

fucking again

Not bad kid but if you want to be more than just a ringtone rapper you'll need some hot verses and sick rhymes.

 

[Turin39789]

Originally posted by: sonambulo

Originally posted by: Turin39789
fucking p and fucking n

fucking again

Not bad kid but if you want to be more than just a ringtone rapper you'll need some hot verses and sick rhymes.

Well I dined last night with scarface Ron
on tilapia fishcakes and fried black swan
razorweed onion and peacock squirrel
and I dreamed all night about a beautiful girl
and I'm lost
and I'm lost
and I'm lost at the bottom of the world
I'm hancuffed to the bishop in the barbershop line
I'm lost at teh bottom of the world

 

[sonambulo]

Originally posted by: Turin39789

Well I dined last night with scarface Ron
on tilapia fishcakes and fried black swan
razorweed onion and peacock squirrel
and I dreamed all night about a beautiful girl
and I'm lost
and I'm lost
and I'm lost at the bottom of the world
I'm hancuffed to the bishop in the barbershop line
I'm lost at teh bottom of the world

Uh! What! Uh! What!

Let's show 'em it's real and not just a hobby,
M'fuckas in this thread blamin' it on a political lobby,
One mark even tried to pin it on Obama,
I think I'll write down this next sentence with a comma,
In the beginning of this thread I blamed it on God,
Let's all just hope I don't get a vacation from a Mod,
Now it's time to end this winding tale,
Before someone recycles the old meme 'epic fail!'

Yo I'm out, B.

 

[mattocs]

Perhaps without some senseless bullshit war, things might have gone different?

 

[AstroManLuca]

Originally posted by: spidey07
Hell No. He has nothing to do with it. All the crap went downhill once we had a democrat house/senate. Time to educate them on government 101.

Uh, because Congress has an immediate effect on the country's economic health? I hope you're just trolling/joking, because there are so many reasons why that's ridiculous.

Most economists and even some partisan hacks agree that it takes a long time for one party's economic impact to take effect. During the (comparatively minor) economic troubles during Bush's first term, I remember people defending Bush by saying that he inherited the mistakes made by Clinton! Using that logic, wouldn't it stand to reason that the current economic crisis is more related to Bush's policies (which have been in place for nearly 8 years now) than it is to the 2-year-old Democratic congress?

The two men with the greatest individual say in what happens to our economy are both appointed by the President - Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson.

Economies have a life of their own and 90% or more of the blame lies on investors anyway. Most didn't even do anything wrong, but there were several banks that took on way too much risk. Is it the government's fault that they didn't impose enough regulations? Or is it the companies' fault that they bit off more than they could chew?

I don't blame Bush for this but neither do I blame the Democrats in Congress. To claim either one (or any individual senator or representative) is mostly responsible is utterly ridiculous.

 

[sonambulo]

Awwwww yeah that's right. Only a forum like P & N is capable of handling rhymes as hot as mine.

 

[Turin39789]

Originally posted by: sonambulo
Awwwww yeah that's right. Only a forum like P & N is capable of handling rhymes as hot as mine.

word to your mother

 

[jonks]

That's not cool. They moved the thread to P&N from OT and my long ass reply just got negged. I'm not typing that up again. grrr

 

[sonambulo]

Originally posted by: jonks
That's not cool. They moved the thread to P&N from OT and my long ass reply just got negged. I'm not typing that up again. grrr

That's 'O.K.' What did you think of the freestyle between Turin and I?

 

[ccbadd]

The article linked about shows Bush tried to fix Freddie and Fannie and we all know what happened when he wanted to do something about Social Security. When the SSA collapses I am sure they will try to blame him also. The real blame lies with Congress for getting in bed with the lobbyist and the American people who keep putting those scumbags back in Washington. I really think we as Americans need to push for term limits on Congress and some sort of law that restricts legislation to a single scope in order to kill earmarks. Congress saw fit to do so (term limits) on the Executive branch but they will never do it to themselves!

 

[jonks]

Originally posted by: Queasy
it was the dems it was the dems it was the dems
snip.

That's nice, I see you got your daily Michelle Malkin talking point, this article is all over the right wing blogs. But like most everything else she and they do, it fails to tell the whole story. Who killed the bill? The GOP in the House. Wait, what?

http://www.washingtonpost.com/...3Oct7?language=printer

The Bush administration is at odds with the Republican-controlled House Financial Services Committee over legislation to impose tougher oversight over the nation's two largest funders of home loans, Fannie Mae and Freddie Mac.

Rep. Michael G. Oxley (R-Ohio), chairman of the House Financial Services Committee, did not return telephone calls. Rep. Richard H. Baker (R-La.), who heads the Financial Services Committee's subcommittee that has jurisdiction over the two companies, had no comment.

http://www.washingtonpost.com/...Nov16?language=printer
November 17, 2003

As a House committee was preparing to draft a bill last month that would change how Fannie and Freddie are regulated, Fannie asked mortgage lenders that do business with it to write to a key member of Congress, and provided "talking points" as guidance.

"Although we are in support of [a] strong safety and soundness regulator for Fannie Mae and Freddie Mac we are looking for no change to our charter, status, or mission," Maroon wrote, asking recipients to fax a letter to Financial Services Committee Chairman Michael G. Oxley (R-Ohio) "by close of business Tuesday 10/07/03 to assure they have your letter prior to the mark-up on Oct. 8th 2003."

Oxley ended up canceling the bill-drafting session amid disagreement between the committee and the Bush administration. The markup has not been rescheduled.

Gee, the Republican Chairman of the Financial Services Committee, Michael Oxley, canceled the bill drafting because of disagreements with the Republican President. But why? Why would he do that?

http://www.msnbc.msn.com/id/12373488/from/RSS/
April. 18, 2006
Freddie Mac pays record $3.8 million fine
Settles allegations it made illegal contributions between 2000 and 2003

Freddie Mac was accused of illegally using corporate resources between 2000 and 2003 for 85 fundraisers that collected about $1.7 million for federal candidates. Much of the fundraising benefited members of the House Financial Services Committee, a panel whose decisions can affect Freddie Mac.

Freddie Mac had held more than 40 fundraisers for House Financial Services Chairman Michael Oxley, R-Ohio.

Things that make you go hmm? And the fait accompli?
http://www.washingtonpost.com/...4Oct8?language=printer

April 2: The Bush administration says it opposes a Senate bill to create a new regulator for Fannie Mae and Freddie Mac, signaling that the legislation is all but dead.

So a bipartisan bill is proposed in the Senate, and subsequently killed by the Bush admin.

Originally posted by: JS80
jonks = pwned

Little boy, run along and play, the grownups are trying to have a discussion. We all recall how your mind works, or more to the point, doesn't work.

JS80: Dems always lose on the issues!
jonks: This poll says that the public trust the dems more on the issues.
JS80: Well that just proves my point!

 

[Robor]

Originally posted by: spidey07
Hell No. He has nothing to do with it. All the crap went downhill once we had a democrat house/senate. Time to educate them on government 101.

So true. I mean, things were perfect until 01/2007.

 

[dmcowen674]

Originally posted by: Rage187
Considering this mess started before he was president. No.

Oh really?

Splain

 

[jpeyton]

Poll?