Democrats and the Economy

[wu_shizzle]

How the Democrats Created the Financial Crisis:

http://www.bloomberg.com/apps/news?p...d=aSKSoiNbnQY0

O'Riley had a little old lady caller tonight on his radio show that mentioned essentially this same thing. He was pretty harsh and called it 'right wing propaganda'.

I like Bill, but Bill likes to feign outrage sometimes just to balance the scales.

ie: Oil companies are gouging "the folks".

[SubGod22]

Bill wouldn't even listen to Cavuto the other day on the oil topic. He really came off bad there.

[double dribble]

Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage.
In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration's affirmative action lending policies as one of the "hidden success stories" of the Clinton administration, saying that "black and Latino homeownership has surged to the highest level ever recorded."

Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn't get out of their loans by selling their houses.

A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it's gone off.

In Bush's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the government's "implicit subsidy" of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.

Rep. Barney Frank denounced Mankiw, saying he had no "concern about housing

[Ixiah]

In Bush's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the government's "implicit subsidy" of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.

Rep. Barney Frank denounced Mankiw, saying he had no "concern about housing

No matter what Clinton did your statement indicates that a problem was known and nothing was done.

Inaction, when you have the power to change something, is implicit acceptance of the status quo.

If this had been the administration;s first year it would be different but this is his last. There were plenty of opportunities for Bush's administration to create legislation (especially with Congress controlled by republicans) to make any corrections desired. Did you find any?

Double dribble - why not just admit that Bush's administration made some economic mistakes and cheer for McCain? He is probably the best candidate for the party this year and may well win. Also he has a very popular vice president nominee in Palin. These desperate fingerpointing attempts just make it seem like Republicans cant take responsibility for things going wrong on their watch.