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To: allmost

>>> You seem to be implying that all this obama and dem Congress spending is Bush’s idea. I disagree with many things he did but WTF are you talking about?

I’m talking about things like:

Fannie and Freddie Bailouts:
September 7, 2008 - The director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, announced his decision to place two Government sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by the FHFA.

TALF:
November 25, 2008- The Federal Reserve announced the Term Asset Liquidity Facility to support the issuance of asset-backed securities (ABS) collateralized by student loans, auto loans, credit card loans, and loans guaranteed by the Small Business Administration (SBA). Under the TALF, the Federal Reserve Bank of New York (FRBNY) will lend up to $1 trillion (originally $200 billion) on a non-recourse basis to holders of certain AAA-rated ABS backed by newly and recently originated consumer and small business loans. As TALF money does not originate from the US Treasury, the program does not require congressional approval to disburse funds.

CAP:
October 14, 2008 - Treasury announces TARP Capital Purchase Program to ensure the continued ability of U.S. financial institutions to lend to creditworthy borrowers in the face of a weaker than expected economic environment and
larger than expected potential losses.


21 posted on 07/21/2009 1:53:26 PM PDT by NC28203
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To: NC28203

Your own statement says no more than $200 billion. What do want to add?


23 posted on 07/21/2009 1:58:03 PM PDT by allmost
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To: NC28203
All the things you mentioned occurred with a Democratic Congress. The Democratic Congress provided oversight and set the goalposts on what was politically feasible and what was not politically feasible. And let's not forget that Democrats have the press. Even when Democrats are in the minority, they have additional influence because of the way the news is reported.

Our problems are due to government meddling in the economy. I have no doubt as to which party has been more socialistic in the past, and is more socialistic today.

Nor does Obama’s influence start the day he assumed office. As a community organizer he sucessfully sued to force lenders to issue more sub-prime loans.

Can I blame Bush for the fact that the Government now owns 66% of GM? No. Let's stop giving Democrats cover. They are America's socialist worker party and they are the ones responsible for the mess we are in.

45 posted on 07/21/2009 4:30:01 PM PDT by ChessExpert (The unemployment rate was 4.5% when Democrats took control of Congress. What is it today?)
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