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What specific legislation did the Dems pass with dubya's signature that caused the criminal housing bubble to pop?
Whose regulator blocked 19 states' efforts to shutdown predatory, sub-prime lending?
No law passes unless it's signed by the prez...
And I'm pretty sure the rules that created the housing bubble predate even Bush Jr...
What specific legislation did the Dems pass with dubya's signature that caused the criminal housing bubble to pop?
Whose regulator blocked 19 states' efforts to shutdown predatory, sub-prime lending?
I agree, and I never said president Bush was without fault. I wish he vetoed more items from all four congresses than he did while he was in office.
Still, he was the lesser of two other evils, even though he proved not to be as conservative as I like.
The worse damage in history past, and present, is when both houses and the presidency are controlled by democrats.
can't get much more evil than lying the country into Iraq, wasting 100s of 1000s of lives, to grab the oil.
My memory of time may be flaky, but I think it was about 2003 that several republicans in congress tried to change the regulations governing housing loans, saying a disaster was coming if the regulations were not changed. They didn't have enough republican support, and were blocked by prominent democrats with little or no democrat support. The regulations/laws they were trying to change were passed in the early Clinton years if i recall correctly.
When you say something you believe to be true at the time, and find out later you were wrong, do you call yourself a liar?
"believe to be true at the time"
they didn't believe it then. They knew they were fixing up the intelligence all along.
CPAC and such neo- ilk wanted Clinton to invade Iraq.
Iraq was on dubya's/Repug agenda when he swore in, and dubya mentioned Iraq in his first cabinet meeting.
in 2002 and 2003, we heard "justificaiton-of-the-week" of why Saddam had to go. That odiferous bull was proven to be bull .
"belief" ain't good enough when you're starting a war.
Last edited by boutons_deux; 06-01-2011 at 05:39 PM.
you mean they believed their own bull ?
I wonder if this is true because the main bankers that the president speaks with are the federal reserve govenors. (i.e. the president doesn't "tell the fed what to do" rather, the fed "tells the president what his position should be."
Edit: Oops, this was covered upstream.
This. The perception I get is that most of the time the Fed simply tells the executive how it's gonna be.
I disagree, I think it was just as bad when the GOP controlled both the executive and the legislative. Frankly, when it was mixed, it used to be better (at least it was on part of the Clinton administration), but lately it's hard to distinguish the parties apart.
“We Are on the Verge of a Great, Great Depression"
http://www.nakedcapitalism.com/2011/...+capitalism%29
=========
Some, I "believe" the Repugs have the solution ... to keeping economic hole going until Nov 2012. After which, if they win, they won't do all about the economy, because they believe that that hated govt has no role to play.
With Greenspan, definitely. Greenspan spoke, presidents listened. But Bernake sure looked to me like he was taking orders from Paulson/Bush (read: Paulson). I think that still holds and he pretty much takes his lead from whatever Geitner/Obama (read: Geitner) are thinking.
http://www.economist.com/node/18805359But with the current round of QE about to end, Mr Bernanke gave no hint that a third programme was on its way in a keenly awaited speech this week, acknowledging merely that “economic conditions are likely to warrant exceptionally low levels for the federal-funds rate for an extended period.”
The alternative, less palatable thesis is that the stimulus delivered by central banks and governments since late 2008 and early 2009 is now starting to fade. The authorities are running low on ammunition, as Mr Bernanke has in effect admitted. There appears to be little political appe e for a further round of fiscal stimulus or easier monetary policy. In Europe the emphasis has shifted to fiscal austerity and the European Central Bank has started to push up interest rates.
FWIW
The much hated stimulus is fading, and those who hated it the most will be among those who lose the most in the coming double dip. I am among those who never really considered us out of the first recession though.
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