No
How do you spell NO?The democratic clowns on the Finance commitee forced all of those banks to give out mortgages to people that could Not repay them.
Dodd/Frank and gutless repubs.
If you’re a flaming socialist, liberal, or ignoramus, the answer is YES, of course, he is the all-powerful.....if NOT....sheesh...
What should have been a “blip” has been escalated to epic proportions with words like..depression..major..like the “Great Depression”...WORSE than the “Great Depression..Global Depression..end of the world as we know it.
The media has created a huge portion of this.
(How is their chosen “One” gonna save the world if we aren’t headed for sure disaster?)
Of course not, that would be Mssrs Dodd and Frank.
But that is not the issue.
The issue is the media (in this case BBC) perpetually and perennially servicing Marxist Obama by dishonest blame-shifting on just who caused the financial crisis.
Dems/Marxists/leftists do a couple of things quite well.
Thing 1. Undermining. They are experts at destroying things that other people like or build. Our Military and economy are two timely examples. And,
Thing 2. False blames. Everything from Hurricane Katrina response to Iraq war votes and now to financial chaos. They are experts at evading responsibility for their undermining successes; and, pinning the blame on the innocent.
.
Bush Derangement Syndrome is even greater in Europe than the US. To the British Left, it isn’t enough for Bush to leave office, they want the UN to try Bush and Blair for war crimes. They have the vain hope that the Messiah will give the UN the authority to do such a trial.
I think there was blame to go around.
Both parties had a hand in repealing Glass Steagall allowing banks to engage in riskier behaviors.
The Fed lowered the reserve ratios to historic lows, probably in response to globalization. But lowering our standards to world standards in response in response to globalization is not a wise move. We should be bringing the world up to our standard if they want to play in our market.
The way the Bush administration announced the finanical crisis ensured more consumer panic than would have occurred under a normal recession.
I still think there was market manipulation going on that has not been investigated or prosecuted.
The SEC’s limiting option trading on some banks while leaving the others to feel the full effects of hedging programs helped kill some banks.
Porn Industry Seeks $5 billion Federal Bailout
(Ya just can’t make this stuff up... )
LA DAILY NEWS | January 08, 2009 | KEVIN MODESTI
Posted on 01/08/2009 9:02:19 PM PST by kellynla
http://www.freerepublic.com/focus/f-news/2161412/posts
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!
Not difficult at all; Barney Frank.
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.
NO
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.
Good question. Bush’s primary responsibility for the crisis has nothing to do with deregulation, and everything to do with encouraging the insane lending practices that led to the whole subprime fiasco.
Decent propaganda video making the case can be found here:
http://www.youtube.com/watch?v=vLUbb2DUYGk
I never saw Bush complain one bit in the face of all this irresponsible behavior.
I saw Bush delight in the “ownership society” - taking credit for it right before the house of cards collapsed.
I never saw Bush take his veto pen out of the wrapper his first years in office
Congress is naturally fiscally irresponsible. It takes leadership, vision, and guts to go over their heads to do the right thing. He didn’t want to do the right thing, because he substantially agreed with congress’ spending impulses.
Bush owns this mess - no matter who else was involved. If he cared, he’d be pushing for prosecutions, reforms and free-market corrective actions. Instead, he’s the bailout president.
Just as Bush, in the end, makes Clinton look OK by comparison, the only thing that will make Bush look good is a bigger failure - the disaster we are about to experience in Obama.
How can anyone, least of all a conservative and honest observer of America shift the blame from Bush? This article is flippin’ insane to even ask the question.