Wright: Trump’s Doing Great Work — But Does He Understand the 2008 Economic Crash?

Breitbart ^ | 7/29/2015 | C. Edmund Wright

[Servant of the Cross]

As someone who’s criticized the Republican establishment and Sen. John McCain (R-AZ) since 1992, and slammed Karl Rove and George W. Bush since 2001, I cannot be more thrilled with what Donald Trump has brought to the national conversation.

He has done what no one else could – present company included – for these topics and others. These discussions are all more in the news than ever, and we are all better off for it. It’s fun to watch, and it’s important to our national debate.

Having said that, Mr. Trump made some comments on MSNBC and in Iowa in the past few days that indicate he is perhaps unclear about the causes of the 2008 economic crash. However you want to reconstruct the meltdown, the economic problems were clearly set in motion by several decades of liberal policies on lending, housing, mortgages, energy exploration and refining, and more recently, crony and esoteric derivatives on Wall Street.

[Night Hides Not]

Ya got me there...John Galt didn't win me over until after Thad Cochrane's runoff win over McDaniel.

I'm not holding my nose in the voting booth ever again

[maddogtiger]

Yes,loans to too many people in tenuous financial positions was the root cause but the timing was set up to be the October Surprise. Soros and Putin leveraged the oil futures market and voila, cant buy gas and make payment on house loans.

[Servant of the Cross]

Absolutely true. But that would never have happened if Fannie & Freddie had been reformed in 2004.

[Red Steel]

I blame both parties over the whole mess.

[Ohioan]

There certainly was a major prong, for which the Demcoratic Left was responsible, in what led to the 2008 meltdown. Making loans on over-priced real estate, to people with no prayer of actually paying them off, was a ridiculous misuse of resources, brought about by a misuse of Federal power.

But why those loans, once bundled into packages where absolutely no one knew the actual value, had such a totally disastrous effect, also involved the radically unconservative, over-leveraging of the biggest banks, that took place under the Bush Administration, actually advocated at one point by his Secretary of the Treasury.

Trump is on the mark when he blames both parties. We need to stop making excuses for the Republicans who from time to time try to outdo the Democrats in idiotic programs.

Where there is no consistency in common sense, there is no basis for trust.

[mountn man]

What number was Clintoon?

[stephenjohnbanker]

The loose money caused the run up of real estate prices. I watched the market in California go up as much as 200% from 2002-2006.

[Servant of the Cross]

Both parties have blame over the mess. But it is no where's near equal blame. This was all due to liberal big government social engineering attack on the free market for mortgages ... spanning decades. That is why it was so big and such a bubble that finally burst.

And the pubbies, as always, were too complacent and cowardly to truly oppose the RATs.

[Mariner]

"the economic problems were clearly set in motion by several decades of liberal policies on lending, housing, mortgages, energy exploration and refining, and more recently, crony and esoteric derivatives on Wall Street"

Things the Republicans eagerly participated n, especially when they had control in both Houses of Congress and POTUS.

[SWAMPSNIPER]

Yep, but no point in discouraging him now.

We were going absolutely nowhere until he jumped in.

[RitaOK]

The writer takes notice that the 2008 Crash was pretty much the fault of Republicans, According To Donald Trump, in Iowa this week.

The writer gives us another direct quote of Donald Trump spoken on MSNBC, in New York City, where he is heard to lay the causes for the 2008 Crash at the feet of Republicans and saying of their work that.... “ I don’t believe Democrats would have done that”.

The writer is wrong to notice there is not a shred of responsibility to lay at the feet of the Hand Out Party of Democrats????

Everyone who heard Donald on these occasions had to wonder what other universe he must have occupied to so totally miss the Democrat history of meddling with our economy and transferring wealth to give them a complete pass.

I’m sure Democrats had to bang the water out of their ears when they heard Trump lay out these credits to their party.

It was a weird moment, I recall.

[matthew fuller]

AMEN!

[Red Steel]

Bawney Frank.

[Ohioan]

Yes, of course. Just as Medicare, Medicaid & Bush's prescription drug coverage, all combine to run up health care costs.

But it was the gross over-leveraging of the big banks to buy bundled, but individually nearly worthless mortgages, that almost brought the whole system down. The over-leveraging turned what would have been an indeed disastrous misuse of capital into an overwhelming event.

The combination of fantasy seeking Egalitarian/collectivists, hoping to redistribute wealth, with foolish Republicans, putting special interests ahead of reasonable behavior, is a very bad combination. I have no use for either group--none whatsoever.

[Jane Long]

Maybe a better question is does McCain understand aerodynamics?

---

That’s hilarious, right there ;-)

[matthew fuller]

I think that GWB’s first term was a good one- he didn’t flame out till his second term, in my opinion. And he did crash and burn in his second term.

[stephenjohnbanker]

Same here.

[C. Edmund Wright]

which misses the point, because ALL OF IT....EVERY BIT OF IT...was PUSHED by Democrats....and then Trump gave Democrats a FREE PASS. Please try and justify that. Please. This is a challenge, direct to you, to answer THIS.

[C. Edmund Wright]

That depends on how well one understands Jaime Gorelick, Franklin Raines and James Johnson and the collusion and diversion of their activities provided by Barnie Frank and Maxine Waters

Ah, Jamie Gorelick... I wrote a piece in American Thinker 08 or 09 talking about her major role in both the 9-11 attacks and Fannie/Freddie mess. I think it was called mistress of disaster, and the theme was that she did more than any other single person to bring about the two biggest disasters in 50 years.

[C. Edmund Wright]

This is true, but Idon’t think Trump has said a single word about limiting government, shrinking government, the Constitution......not one.

In fact, he slammed Scott Walker FOR shrinking government. Damn, reality sucks sometimes don’t it....