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The Economy Was Destroyed by the Dems...New Study Confirms.

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America, designed by geniuses to be run by idiots. 

New study confirms economy was destroyed by Democrat policies

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left's race-baiting attacks on the housing market (the Community Reinvestment Act--enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let's review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

-John McCain also co-sponsored urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly ridiculed anyone who suggested reforms were necessary...to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.

-No one was making bad loans to unqualified people until Democrats came along and threatened to drag banks into court and have them fined and branded as racists if they didn't go along with the left's Affirmative Action lending policies...all while federally insuring their losses. Even the New York Times warned in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.

-Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left's favorite blatantly partisan "fact-checkers," Snopes, admits (while pretending to 'set the record straight').

-Even The New York Times admitted that there is "little evidence" of any connection between the "Republican" deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.

But non-Fox media have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. So here we sit, to this day, still watching Obama excuse and shrug off endless economic failures, illegal government takeovers and utter national bankruptcy with zero accountability.

Hope everyone has an inoffensive politically
correct seasonal period of celebratory behaviour with variations of
traditions & significance!

by on Dec. 30, 2012 at 6:24 AM
Replies (41-50):
Billiejeens
by Ruby Member on Dec. 31, 2012 at 9:13 AM
4 moms liked this
Quoting GaleJ:





We know that you luv Obama, we all know.
What some of us don't know, is how in the world you could bear to pull your hands off his shrine long enough to type all your rubbish in this thread.
blondekosmic15
Report
In the process of decorating my page~
Today at 2:17 PM
by Blonde on Dec. 31, 2012 at 9:46 AM
4 moms liked this

 

Quoting _Kissy_:

Housing didn't declare war, give out unpaid taxcuts, bail out wallstreet, drive up gas prices, outsource jobs, lay people off...

You must be referring to Barack Obama here. He's guilty of each one of these allegations. By the way Kissy, radical terrorists declared war upon America. Sadly you seem to be on the wrong side many times. Your perception of reality is distorted and misguided.

And 20 years of Republican presidents in the last 30 and they did nothing but seek and destroy.

Progressive liberalism is destroying this beautiful Country......

 

sweet-a-kins
by Ruby Member on Dec. 31, 2012 at 9:59 AM

 Still waiting for an answer here

If Bush & repubs in congress wanted reform here..and knew the recession was coming, why with their holding ALL the power for 6 years did they do NOTHING? Worse than do nothing they contributed more debt in the form of an unfunded $800 Billion prescription plan and 2 unfunded wars (in the TRILLIONS)

So did they do this on purpose?

Quoting sweet-a-kins:

From 2000-2006 the republicans ran both houses and has the White House

Why did they do nothing?


Quoting Natesmom507:









The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and…

00:04:00

Added on 9/24/08

6,333,092 views

http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1 


 This video clearly shows that George Bush tried to warn Congress starting in 2001, that this economic crisis was coming, if something was not done. But congress refused to listen, along with the arrogant Congressman, Barney Frank. This video says it all.

 

blondekosmic15
Report
In the process of decorating my page~
Today at 2:17 PM
by Blonde on Dec. 31, 2012 at 10:02 AM
3 moms liked this

 

Quoting GaleJ:

SARCASM ALERT...Right because President Obama, being all powerful and evil, was able to cause the collapse of the economy before he was elected. Bush cut taxes and put two wars on the fight now, pay later plan and you're trying to blame President Obama and the left? Well okay I like fairy tales too, but I know when I'm hearing such a story and can tell the difference between fantasy and the truth. 

Obama is in the process of collapsing America's economy. I find it interesting some of you give a pass { even protect these radical terrorists when you continually blame former Pres Bush for the wars } to Osama bin laden, Mohammed Atta { lead 911 terrorist }, Ayman al-Zawahiri { new leader of Al-Qaeda }, Khalid Sheik Mohammed { mastermind of 911 } who are bent on killing as many Americans as possible to achieve their diabolical cause. Thankfully, some of these terrorists are dead but many more are strategically planning the destruction of America as we speak. Fairy tales are attributed to those who blindly follow Barack Obama under the guise of reform and rebuilding this Country. If we continue down the current path, our children and grandchildren will bear the significant burden of this President's failed policies for generations to come.

Quoting SallyMJ:

Absolutely right. And we've actually known this for some time.

But everyone knows - due to the shrill voices of the left - especially President Obama, who has mentioned it hundreds of times over the past 5 years -  that the meltdown was all Bush's fault.

 

Thank you Sally :}

 

 

SallyMJ
by Ruby Member on Dec. 31, 2012 at 10:08 AM
6 moms liked this

Dear Gale,

You don't read very well, do you? Try actually reading the article that says MANY factors went into the economic catastrophe starting back as far as Carter. Many people in the Bush administration saw disaster coming, tried to stop some of the main factors, were stymied by Democrats.

Try actually reading my response. Never did I say the economy Obama inherited was his fault. Try critical thinking through your biases. You just might learn something, Gale.

Quoting GaleJ:

SARCASM ALERT...Right because President Obama, being all powerful and evil, was able to cause the collapse of the economy before he was elected. Bush cut taxes and put two wars on the fight now, pay later plan and you're trying to blame President Obama and the left? Well okay I like fairy tales too, but I know when I'm hearing such a story and can tell the difference between fantasy and the truth. 

Quoting SallyMJ:

Absolutely right. And we've actually known this for some time.

But everyone knows - due to the shrill voices of the left - especially President Obama, who has mentioned it hundreds of times over the past 5 years -  that the meltdown was all Bush's fault.



sweet-a-kins
by Ruby Member on Dec. 31, 2012 at 10:08 AM

 psst, the economy isn't collapsing...and another pssst..how exactly would he do this as he doesn't write laws...That is the job of the Congress

Quoting blondekosmic15:

 

Quoting GaleJ:

SARCASM ALERT...Right because President Obama, being all powerful and evil, was able to cause the collapse of the economy before he was elected. Bush cut taxes and put two wars on the fight now, pay later plan and you're trying to blame President Obama and the left? Well okay I like fairy tales too, but I know when I'm hearing such a story and can tell the difference between fantasy and the truth. 

Obama is in the process of collapsing America's economy. I find it interesting some of you give a pass { even protect these radical terrorists when you continually blame former Pres Bush for the wars } to Osama bin laden, Mohammed Atta { lead 911 terrorist }, Ayman al-Zawahiri { new leader of Al-Qaeda }, Khalid Sheik Mohammed { mastermind of 911 } who are bent on killing as many Americans as possible to achieve their diabolical cause. Thankfully, some of these terrorists are dead but many more are strategically planning the destruction of America as we speak. Fairy tales are attributed to those who blindly follow Barack Obama under the guise of reform and rebuilding this Country. If we continue down the current path, our children and grandchildren will bear the significant burden of this President's failed policies for generations to come.

Quoting SallyMJ:

Absolutely right. And we've actually known this for some time.

But everyone knows - due to the shrill voices of the left - especially President Obama, who has mentioned it hundreds of times over the past 5 years -  that the meltdown was all Bush's fault.

 

Thank you Sally :}

 

 

 

blondekosmic15
Report
In the process of decorating my page~
Today at 2:17 PM
by Blonde on Dec. 31, 2012 at 10:11 AM
3 moms liked this

 

Quoting sweet-a-kins:

 Still waiting for an answer here

If Bush & repubs in congress wanted reform here..and knew the recession was coming, why with their holding ALL the power for 6 years did they do NOTHING? Worse than do nothing they contributed more debt in the form of an unfunded $800 Billion prescription plan and 2 unfunded wars (in the TRILLIONS)

So did they do this on purpose?

In 2003, Bush, McCain tried to tell Congress, let's reform Fannie before they go under, but Barney Frank said there is not crisis, you're exxagerating Bush and McCain.

Bush, McCain Tried To Reform Freddie Mac

http://ireport.cnn.com/docs/DOC-90601

Blame Fannie Mae and Congress For the Credit Mess

In light of the collapse of Fannie and Freddie, both John McCain and Barack Obama now criticize the risk-tolerant regulatory regime that produced the current crisis. But Sen. McCain's criticisms are at least credible, since he has been pointing to systemic risks in the mortgage market and trying to do something about them for years. In contrast, Sen. Obama's conversion as a financial reformer marks a reversal from his actions in previous years, when he did nothing to disturb the status quo. The first head of Mr. Obama's vice-presidential search committee, Jim Johnson, a former chairman of Fannie Mae, was the one who announced Fannie's original affordable-housing program in 1991 -- just as Congress was taking up the first GSE regulatory legislation.

In 2005, the Senate Banking Committee, then under Republican control, adopted a strong reform bill, introduced by Republican Sens. Elizabeth Dole, John Sununu and Chuck Hagel, and supported by then chairman Richard Shelby. The bill prohibited the GSEs from holding portfolios, and gave their regulator prudential authority (such as setting capital requirements) roughly equivalent to a bank regulator. In light of the current financial crisis, this bill was probably the most important piece of financial regulation before Congress in 2005 and 2006. All the Republicans on the Committee supported the bill, and all the Democrats voted against it. Mr. McCain endorsed the legislation in a speech on the Senate floor. Mr. Obama, like all other Democrats, remained silent.

http://online.wsj.com/article/SB122212948811465427.html

Quoting sweet-a-kins:

From 2000-2006 the republicans ran both houses and has the White House

Why did they do nothing?


Quoting Natesmom507:









The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and…

00:04:00

Added on 9/24/08

6,333,092 views

http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1 


 This video clearly shows that George Bush tried to warn Congress starting in 2001, that this economic crisis was coming, if something was not done. But congress refused to listen, along with the arrogant Congressman, Barney Frank. This video says it all.

 

 

blondekosmic15
Report
In the process of decorating my page~
Today at 2:17 PM
by Blonde on Dec. 31, 2012 at 10:22 AM
2 moms liked this

 

Quoting sweet-a-kins:

 psst, the economy isn't collapsing...and another pssst..how exactly would he do this as he doesn't write laws...That is the job of the Congress

Unemployment was under 6%  til the Dems took control of Congress the final yrs of Bush's Presidency. And we are all aware of the continued high unemployment, lack of job creation, small businesses suffering since Obama became President. The housing market tragedy under the Dems contributed significantly to America's failing economy. Your pssts should be directed @ America's current leader sitting in the WH.

Quoting blondekosmic15:

 

Quoting GaleJ:

SARCASM ALERT...Right because President Obama, being all powerful and evil, was able to cause the collapse of the economy before he was elected. Bush cut taxes and put two wars on the fight now, pay later plan and you're trying to blame President Obama and the left? Well okay I like fairy tales too, but I know when I'm hearing such a story and can tell the difference between fantasy and the truth. 

Obama is in the process of collapsing America's economy. I find it interesting some of you give a pass { even protect these radical terrorists when you continually blame former Pres Bush for the wars } to Osama bin laden, Mohammed Atta { lead 911 terrorist }, Ayman al-Zawahiri { new leader of Al-Qaeda }, Khalid Sheik Mohammed { mastermind of 911 } who are bent on killing as many Americans as possible to achieve their diabolical cause. Thankfully, some of these terrorists are dead but many more are strategically planning the destruction of America as we speak. Fairy tales are attributed to those who blindly follow Barack Obama under the guise of reform and rebuilding this Country. If we continue down the current path, our children and grandchildren will bear the significant burden of this President's failed policies for generations to come.

Quoting SallyMJ:

Absolutely right. And we've actually known this for some time.

But everyone knows - due to the shrill voices of the left - especially President Obama, who has mentioned it hundreds of times over the past 5 years -  that the meltdown was all Bush's fault.

 

Thank you Sally :}

 

 

 

 

JustCJ
by on Dec. 31, 2012 at 10:40 AM
4 moms liked this

*Gigglesnort*

Quoting blondekosmic15:

 

Quoting sweet-a-kins:

 Still waiting for an answer here

If Bush & repubs in congress wanted reform here..and knew the recession was coming, why with their holding ALL the power for 6 years did they do NOTHING? Worse than do nothing they contributed more debt in the form of an unfunded $800 Billion prescription plan and 2 unfunded wars (in the TRILLIONS)

So did they do this on purpose?

In 2003, Bush, McCain tried to tell Congress, let's reform Fannie before they go under, but Barney Frank said there is not crisis, you're exxagerating Bush and McCain.

Bush, McCain Tried To Reform Freddie Mac

http://ireport.cnn.com/docs/DOC-90601

Blame Fannie Mae and Congress For the Credit Mess

In light of the collapse of Fannie and Freddie, both John McCain and Barack Obama now criticize the risk-tolerant regulatory regime that produced the current crisis. But Sen. McCain's criticisms are at least credible, since he has been pointing to systemic risks in the mortgage market and trying to do something about them for years. In contrast, Sen. Obama's conversion as a financial reformer marks a reversal from his actions in previous years, when he did nothing to disturb the status quo. The first head of Mr. Obama's vice-presidential search committee, Jim Johnson, a former chairman of Fannie Mae, was the one who announced Fannie's original affordable-housing program in 1991 -- just as Congress was taking up the first GSE regulatory legislation.

In 2005, the Senate Banking Committee, then under Republican control, adopted a strong reform bill, introduced by Republican Sens. Elizabeth Dole, John Sununu and Chuck Hagel, and supported by then chairman Richard Shelby. The bill prohibited the GSEs from holding portfolios, and gave their regulator prudential authority (such as setting capital requirements) roughly equivalent to a bank regulator. In light of the current financial crisis, this bill was probably the most important piece of financial regulation before Congress in 2005 and 2006. All the Republicans on the Committee supported the bill, and all the Democrats voted against it. Mr. McCain endorsed the legislation in a speech on the Senate floor. Mr. Obama, like all other Democrats, remained silent.

http://online.wsj.com/article/SB122212948811465427.html

Quoting sweet-a-kins:

From 2000-2006 the republicans ran both houses and has the White House

Why did they do nothing?


Quoting Natesmom507:









The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and…

00:04:00

Added on 9/24/08

6,333,092 views

http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1 


 This video clearly shows that George Bush tried to warn Congress starting in 2001, that this economic crisis was coming, if something was not done. But congress refused to listen, along with the arrogant Congressman, Barney Frank. This video says it all.

 

 


Hope everyone has an inoffensive politically
correct seasonal period of celebratory behaviour with variations of
traditions & significance!

blondekosmic15
Report
In the process of decorating my page~
Today at 2:17 PM
by Blonde on Dec. 31, 2012 at 10:42 AM
1 mom liked this

 

Quoting JustCJ:

*Gigglesnort*

PS...CJ  I like your new avatar pic :}

Quoting blondekosmic15:

 

Quoting sweet-a-kins:

 Still waiting for an answer here

If Bush & repubs in congress wanted reform here..and knew the recession was coming, why with their holding ALL the power for 6 years did they do NOTHING? Worse than do nothing they contributed more debt in the form of an unfunded $800 Billion prescription plan and 2 unfunded wars (in the TRILLIONS)

So did they do this on purpose?

In 2003, Bush, McCain tried to tell Congress, let's reform Fannie before they go under, but Barney Frank said there is not crisis, you're exxagerating Bush and McCain.

Bush, McCain Tried To Reform Freddie Mac

http://ireport.cnn.com/docs/DOC-90601

Blame Fannie Mae and Congress For the Credit Mess

In light of the collapse of Fannie and Freddie, both John McCain and Barack Obama now criticize the risk-tolerant regulatory regime that produced the current crisis. But Sen. McCain's criticisms are at least credible, since he has been pointing to systemic risks in the mortgage market and trying to do something about them for years. In contrast, Sen. Obama's conversion as a financial reformer marks a reversal from his actions in previous years, when he did nothing to disturb the status quo. The first head of Mr. Obama's vice-presidential search committee, Jim Johnson, a former chairman of Fannie Mae, was the one who announced Fannie's original affordable-housing program in 1991 -- just as Congress was taking up the first GSE regulatory legislation.

In 2005, the Senate Banking Committee, then under Republican control, adopted a strong reform bill, introduced by Republican Sens. Elizabeth Dole, John Sununu and Chuck Hagel, and supported by then chairman Richard Shelby. The bill prohibited the GSEs from holding portfolios, and gave their regulator prudential authority (such as setting capital requirements) roughly equivalent to a bank regulator. In light of the current financial crisis, this bill was probably the most important piece of financial regulation before Congress in 2005 and 2006. All the Republicans on the Committee supported the bill, and all the Democrats voted against it. Mr. McCain endorsed the legislation in a speech on the Senate floor. Mr. Obama, like all other Democrats, remained silent.

http://online.wsj.com/article/SB122212948811465427.html

Quoting sweet-a-kins:

From 2000-2006 the republicans ran both houses and has the White House

Why did they do nothing?


Quoting Natesmom507:









The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and…

00:04:00

Added on 9/24/08

6,333,092 views

http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1 


 This video clearly shows that George Bush tried to warn Congress starting in 2001, that this economic crisis was coming, if something was not done. But congress refused to listen, along with the arrogant Congressman, Barney Frank. This video says it all.

 

 


 

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