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3 Bumps

How did Bush NOT destroy the economy?

Just wondering you point of views. :] I think he did. But I'd like to hear what you have to say.

Answer Question
 
acurran88

Asked by acurran88 at 3:04 PM on Aug. 30, 2010 in Politics & Current Events

Level 12 (866 Credits)
Answers (43)
  • fannie and freddie
    momof030404

    Answer by momof030404 at 3:21 PM on Aug. 30, 2010

  • fannie and freddie That was such a small part of the whole problem. That is all you can bring up so you keep using it. Fannie and Freddie opened up the market so that you can buy houses in the areas where banks would not lend, you still had to qualify for the loan. Deregulation was the problem. They took advantage of this and bet against loans they knew would fail. Deregulation destroyed us.

    mommom2000

    Answer by mommom2000 at 3:29 PM on Aug. 30, 2010

  • Forcing banks to lower their loan qualification standards was a huge mistake! Who did that? Let's see..oh yes it was the Dems. I find it laughable that all the blame for the economy was put on Bush when who had control the the Congress and therefore the spending? Let's see..oh yes that was the Dems too.

    I am not saying none of the blame belongs to Bush and/or the Republicans. I am just saying you have to put the bulk of it where it belongs. Govt never manages "business" very well.
    yourspecialkid

    Answer by yourspecialkid at 4:13 PM on Aug. 30, 2010

  • Once AGAIN...the President does not control government spending, CONGRESS does!! THEY write the bills, they vote on the bills, and then they send it to the President's desk who either approves or vetoes them. In the case of a veto, the bill goes back to the drawing board.

    That said, which party has been the CONGRESSIONAL MAJORITY since January 2007?! Yep! That would be the spending spree Democrats!!!

    OP--We have discussed the reasons for the economy taking a nose-dive a gazillion times. If you can't be bothered to research the reasons for yourself--either on CM in cyberspace, then I really can't explain it to you in less than a thousand characters--even if I wanted to!! LOL :o)
    LoriKeet

    Answer by LoriKeet at 4:18 PM on Aug. 30, 2010

  • Bush killed the dinosaurs too.
    lovinangels

    Answer by lovinangels at 4:26 PM on Aug. 30, 2010

  • http://www.wsws.org/articles/1999/nov1999/bank-n01.shtml
    ***************
    Good article.
    gertie41

    Answer by gertie41 at 4:32 PM on Aug. 30, 2010

  • Wait....GertieLu....the QUESTION was how did BUSH not destroy the economy?

    You posted an article from the WORLD SOCIALIST WEB SITE (LOL), which discusses how Republicans under CLINTON in October 1999 started the ball rolling (which I disagree).

    So, now BUSH is responsible for bills/policies enacted BEFORE he was sworn in on January 2001?!?! LMAO!!! :oP
    LoriKeet

    Answer by LoriKeet at 4:43 PM on Aug. 30, 2010

  • OMG, I thought the other post was funny, but Lori this one is hilarious. Blaming Bush for shit that happened before he was elected? Are you kidding?
    OP...punching at shadows there lady, Bush is gone, he's been gone. Time to move on and deal with your current problems instead of looking backwards, pointing backwards and playing the blame game.
    jewjewbee

    Answer by jewjewbee at 4:48 PM on Aug. 30, 2010

  • Forcing banks to lower their loan qualification standards was a huge mistake


    Fannie and Freddie didn't tell banks to issue mortgages to people who could not pay for them.  What they did is say that you have to open up the market equally in all neighborhoods to all people.  They never told banks to loan to unqualified people.

    mommom2000

    Answer by mommom2000 at 4:49 PM on Aug. 30, 2010

  • I think his largest part in it was relaxing Wall Street lending laws to $30 for every $1 held and waging two wars that exhausted our funds. Now, we can also add Congress and the Senate in Fannie and Freddie and blind voting and lobbyists. Now, stir in a dash of all of us living beyond our means. Add an overzealous newly elected Congress and Senate that wanted to play tit for tat, and now - wait for the time to go off on the new version in November to add the second tit for tat addition, and I am sure China should be a world power by the end of 2015.
    urkiddingright

    Answer by urkiddingright at 5:00 PM on Aug. 30, 2010

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