UncleBuck
Well-Known Member
now if only he could have had the same courtesy with his predecessor. maybe he could have even thrown in some projected surpluses instead of record deficits for good measure.
Yikes - American's wealth down 40% with Obama
- Thread starter Illegal Smile
- Start date
Johnny Retro
Well-Known Member
So you change the subject when we are on the topic of who created the crisis.
UncleBuck
Well-Known Member
listen, we all know barney frank single handedly destroyed the economy and forced people to gay marry. we get it.
Johnny Retro
Well-Known Member
Right, maybe if the dem's wouldn't have pushed for banks to loan 30k a year income families to buy 200k houses. And maybe if the federal reserve wouldn't have pushed rates artificially low to further create the bubble. And maybe if Clinton didn't repeal glass stegal, we wouldn't of had that problem. The point of the argument is, Bush did not create the crisis what so ever, and intended to further audit freddie and fannie, only to be shut down by overwhelming opposition by Bawny Fwank
CharlieBud
Active Member
abandonconflict
Well-Known Member
UncleBuck
Well-Known Member
i'm glad we agree that barney frank controlled both houses of congress with GOP majorities. kind of odd that with all that power he was wielding he never bothered to do anything about civil rights for gays. but nonetheless, barney frank is singlehandedly responsible for the economic crash and bush is not responsible in any way whatsoever, just as you said.
and i'm marie of romania.
cannabineer
Ursus marijanus
Johnny Retro
Well-Known Member
Its very telling how you totally dismiss this first 2 points and put words in my mouth that bawney fwank created the crisis. But shit, if you want to go down that route, here's a nice little video for you.
[Youtube]hxMInSfanqg[/Youtube]
abandonconflict
Well-Known Member
Johnny Retro
Well-Known Member
[youtube]cMnSp4qEXNM[/youtube]
Here's another one for you. And the funny thing is, a Canadian website posted it. LOL
Here's another one for you. And the funny thing is, a Canadian website posted it. LOL
Johnny Retro
Well-Known Member
[youtube]w-YtqVIKTTE[/youtube]
And heres one for the LAWLZ
"You are not going to see the collapse like you do when you see a bubble"
"so those of us on our committee in particular will continue to push for home ownership"
And heres one for the LAWLZ
"You are not going to see the collapse like you do when you see a bubble"
"so those of us on our committee in particular will continue to push for home ownership"
abandonconflict
Well-Known Member
abandonconflict
Well-Known Member
Johnny Retro
Well-Known Member
2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
2003
September: "I worry, frankly, that there's a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios"- Bawny Fwank
2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
2005
June: "We have, I think, an excessive degree of concern right now about home ownership and it's role in the economy. Obviously speculation is never a good thing. But those who argue that housing prices are now at the point of a bubble seem to me to be missing a very important point. Unlike previous examples we have had where substantial excessive inflation of prices later caused some problems. We are talking here about an entity, home ownership, homes, where there is not the degree of leverage that we have seen elsewhere. This is not the dot com situation. We had problems with people having invested in business plans for which there was no reality, with people building fiber optic cable for which there was no need. Homes that are occupied may see an ebb and flow in the price at a certain percentage level but you're not going to see a collapse that you see when people talk about a bubble. So those of us on our committee in particular will continue to push toward home ownership."- Bawny Fwank
2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying, "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)
Yes! It was all Bush's fault!!!!
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
2003
September: "I worry, frankly, that there's a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios"- Bawny Fwank
2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
2005
June: "We have, I think, an excessive degree of concern right now about home ownership and it's role in the economy. Obviously speculation is never a good thing. But those who argue that housing prices are now at the point of a bubble seem to me to be missing a very important point. Unlike previous examples we have had where substantial excessive inflation of prices later caused some problems. We are talking here about an entity, home ownership, homes, where there is not the degree of leverage that we have seen elsewhere. This is not the dot com situation. We had problems with people having invested in business plans for which there was no reality, with people building fiber optic cable for which there was no need. Homes that are occupied may see an ebb and flow in the price at a certain percentage level but you're not going to see a collapse that you see when people talk about a bubble. So those of us on our committee in particular will continue to push toward home ownership."- Bawny Fwank
2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying, "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)
Yes! It was all Bush's fault!!!!
abandonconflict
Well-Known Member
tryingtogrow89
Well-Known Member
I thought i already clarified that if you're into this left/right, my dick is bigger than yours game, you're goddamn pathetic.
abandonconflict
Well-Known Member
Johnny Retro
Well-Known Member
