Posted on 01/08/2009 8:53:07 PM PST by Steelfish
Be that is it may!
Be that Raines, Livingston, Gorelick made millions off of the flawed US government secured mortgage market;
Be that Barney Frank, Chris Dodd, and many of the other congress critters took huge lobby money and special considerations;
Be that the ‘90’s RAT scumbags pushed for equal lending practices for those that could possibly pay, and for those who had no chance of paying;
Be that sophisticated financial genious firms, along with US banks bundled all this mortgage debt into supposed wonderful security instruments;
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IT totally remains that the financial rating agencies (which recieve a fee for their rating) Moody’s, Standard and Poor’s, etc.: stamped their most highest ratings on these garbage bundled mortgage instruments; without having a clue what risky contents that they were all about!
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So the governments of China, Japan, India, Russia, Australia, where-ever in the world, both within and outside of the US; were duped by the US rating agencies, spreading our US easy loan hurt around the globe. We spread our garbage to the rest of the world.
And now we lament that China and others don’t want to take risks on US loan paper!
What’s the saying fool me once, shame on me: fool me twice.....................
Hello, what is it that our government and financial institutions don’t understand??
Maybe Bush is not at fault!
Does it matter? Pres. Bush will be blamed...we know this.
Actually, "Fool me once, shame on you ..."
I can’t argue with any of your excellent points.
I especially agree with...”not needing comedians, celebrities and lawyers running our country.”
Let’s face it. The government should be run like a successful business. We have a shortage of people in office that know how to do that. Seems like they are voted in because of their good looks and fund raising capabilities.
The next time American Airlines calls me for the CEO position, I’m going to take the high paying job. I have flown in a plane...how hard can it be to run an airline?
Not difficult at all; Barney Frank.
What your describing were symptoms of something bigger going on. 9/11 was the *cause* of the financial crisis. See here:
All For The Loss of a Nail....(and 9/11)
http://www.freerepublic.com/focus/f-bloggers/2157996/posts
Alan Greenspan.
The only way Bush contributed to it is by allowing the flood of illegals to settle here and eventually take advantage of the Dims’ loosening of lending requirements.
ARGH! I forgot the /sarc or the /moonbat-BDS tags, sorry!
Ping to my #30 - forgot the /sarc...
NO
Bite me, jagoff.
Hey, don’t forget that Carter created the Community Reinvestment Act in 1979 or was the 1977 either way...
The GSE’s like Fannie and Freddie were established under FDR and were made official by LBJ (or something like that).
Just for even more demoCRAP fuel to the fire... why this could not be debated by a guy that actually tried to pass a bill to regulate Fannie and Freddie I will never know!
ok then ...all is forgiven
To the British LeftHave to correct you here... The USA left and the Euro left are almost totally opposite... The "Left" in Europe is almost the same as the "Right" in the States. The Euro Left are the conservatives.
Barney Frank and Chris Dodd engineered the collapse of Fannie and Freddie. This kicked off the cascade of failures that resulted in today’s situation and not accidentally, just before the election. To blame Bush is just blind.
Where was his veto pen?
Where was his bully pulpit?
No child left behind money pit was his idea.
Paulson is his treasury guy where all these bailouts originated.
You may try to paint Bush as some naive observer, but he is as dirty as the rest of them.
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