Posted on 12/22/2008 8:32:33 PM PST by Lorianne
“The Bush administration took a lot of pride that homeownership had reached historic highs,” Mr. Snow said in an interview. “But what we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost.”
For much of the Bush presidency, the White House was preoccupied by terrorism and war; on the economic front, its pressing concerns were cutting taxes and privatizing Social Security. The housing market was a bright spot: ever-rising home values kept the economy humming, as owners drew down on their equity to buy consumer goods and pack their children off to college.
Lawrence B. Lindsey, Mr. Bush’s first chief economics adviser, said there was little impetus to raise alarms about the proliferation of easy credit that was helping Mr. Bush meet housing goals.
“No one wanted to stop that bubble,” Mr. Lindsey said. “It would have conflicted with the president’s own policies.”
(Excerpt) Read more at nytimes.com ...
Thanks for posting that.
Perino didn’t debunk anything in particular but at least called into question the NYT article’s credibility, for whatever that’s worth.
Not sure this is enough of a response.
Not to bad of a defense from a bushed Bushie!!! (momma always said:”don’t explain and don’t complain because nobody believes any of it and nobody wants to hear it anyways!”)
Here's a secret... you keep publishing s**t like this and you're going to have to take out even more mortgages... then poof... no more building for Pinchy S. and Rupy Murdoch will OWN you fools.
Yes, I think you’ve got that right. I’m sure his advisors told him it would be a wonderful thing to do, reaching out and all. The establishment Republicans wanted Bush so bad they could hardly stand it when Reagan won the nomination.
I like your Old School article. It explains a lot about the past and the traditional point of view. It’s really refreshing.
What is this “New York Times” you mention?
Thanks Sierra Wasp. It’s just frustrating all the way around these days.
As if things weren’t bad enough on the national scene, that Bozo I voted for to be the Gubernator just can’t act dumb enough these days. Gee whiz Arnald, have some mercy fella.
There is certainly a famine of decent leadership these days, top to bottom.
That's an outright lie. We know ACORN and Congressional Democrats backed the banks into a corner.
Some of it I agree with, and some of it is just amazing poofter type stuff.
“All the money coming in from foreign sources...” Give me a break.
Bad loans were being made. Sooner or later they were going to go splat in massive numbers. And guess what. They did.
No amount of creative financing is going to enable a guy making $25k per year to pay for a $300k mortgage. Who knew?
Good grief! And I’m not convinced they aren’t going to continue making loans like this. Now that’s the scary part.
The writers at the New York Times will soon be on the streets raving with the rest of the mentally ill homeless.
We need a lot more of that kind of thinking in these days IMHO.
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Nope!......None at all!....Duh!!
>>The article is very biased in that it mentions the mistakes of W and his administration, but none of the Democrat’s.<<
The link doesn’t work any more, so I can’t read the article nowm but I read it before and can’t remember Dodd, Frank, Clinton, etc. in the article.
If Gore had been POTUS for 8 years he would have taken the blame for this mess. Now I wonder how many years it will take to elect a republican, let alone conservative, POTUS or congress.
He who controls the present controls the past. He who controls the past controls the future. (Hat tip to George Orwell)
Unless Obama really screws up, it will be a while.
The media is going to cover his posterior moment to moment for the next four or eight years. We can’t win on Conservatives tenets, because we absolutely betrayed them. Who would believe us now?
All I can say for sure, is that it would have been so much worse if McCain had been elected. Bush was bad enough, but McCain would have put the last nails in the Conservative coffin.
My concern right now is whether the Conservative Brand has been destroyed or not.
We now have to either revive Conservative principles under the Conservative banner, or if that banner has been destroyed, then to do it under another banner. It’s not completely clear yet.
My take on it now is that the Republican party is unfit to lead Conservatism back to power. One thing is certain. The leadership could do it but it won’t. So that leaves it up to the rank and file to hit the streets, get new blood on the primary ballots, and simply throw out the leftist bastards from the bottom to the top of the Republican party.
Thanks.
>>So that leaves it up to the rank and file to hit the streets, get new blood on the primary ballots, and simply throw out the leftist bastards from the bottom to the top of the Republican party.<<
Unfortunately, for senators that takes 6 years. Personally, I think the congress ignoring the will of the people calls for a constitutional amendment for recall of congresscritters. John Cornyn, the guy who fought against amnesty last year, recently (after being reelected, surprise surprise) said he hopes Obama keeps his promise on “immigration reform.”
Please. He has had eight years to play hardball. He is wiffle ball league at best. Anything he says now makes him look even more foolish and adds another list of Bushspeak to youtube. W needs to just slink off into the night and go live on the new ranch in Paraguay. He is a reminder of the failures of the Reps and needs to be forgotten as fast a possible.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.