I don’t have any problem saying that Bush was irresponsible. If he had behaved like a conservative, we would not now be suffering thru a recession and Obama.
“If he had behaved like a conservative, we would not now be suffering thru a recession and Obama.”
MEGABUMP!
>> “If he had behaved like a conservative, we would not now be suffering thru a recession and Obama” <<
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That is false from top to bottom.
There is nothing that W could have single-handedly done to correct the empty mortgage problem, but he did try. The crash was not in any way of W’s doing. It started in early 2007 when the dems took over congress, and started demanding tax increases, which had the immediate effect of making employers reverse their hiring policies that had led to the highest level of employment ever experienced in our history, and to begin the rapid shedding of non-essential employees. Many of the laid off workers were, of course, the same folks that were struggling along with their CRA-inspired mortgages.
The entire banking industry had been in a precarious position since a short recession in ‘89-’90 had begun to undermine those CRA mortgages, so it took very little to set them tumbling, and the Pelosi-Reid lay-offs were just what the doctor ordered.
That set the stage for a small group of bank officers (democrats, all of them) to deliberately pull the plugs on their own banks. That is the genesis of our “recession.”
This is not an appology for W, he did, after all, go along with TARP, but he didn’t start the tumble.