Why Is Obama Making the Markets Tank - Or Is It the GOP?

[Jan Itor]

That's part of the deregulation.

Since I was the first one here on HROT to point out that Clinton signed the evil Gramm, Leach, Bliley bill, why do you need to ask my thoughts?

When you post what you did about about the GOP Great Recession.

 

[BioHawk]

LOL. you are being extremely silly. But feel free to claim that the sequester was Obama's idea.

You seem to be in a different debate than me as your responses make zero sense with what I was saying or what I was claiming.

 

[strummingram]

The market is up 230 points today. Which politican/political side gets blame/credit?

 

[What Would Jesus Do?]

The market is up 230 points today. Which politican/political side gets blame/credit?

Shhhh. No fun in that.

 

[What Would Jesus Do?]

When you post what you did about about the GOP Great Recession.

Still the GOP agenda even if a Dem signed it into law. Like the Bush tax cuts and the Bush war on Iraq, there are plenty of criminally complicit Democrats who also deserve blame. But each of those 3 (including deregulation) were top GOP policies. So they get the label for the disastrous consequences of their policies.

 

[hawklandish]

Still the GOP agenda even if a Dem signed it into law. Like the Bush tax cuts and the Bush war on Iraq, there are plenty of criminally complicit Democrats who also deserve blame. But each of those 3 (including deregulation) were top GOP policies. So they get the label for the disastrous consequences of their policies.

Regardless of whether one agreed or disagreed with the policies you list, it is absurd to suggest that any of those caused or contributed significantly to the financial meltdown and the great recession. It resulted from housing policy that required lenders to make loans to folks who cold not pay them back, and subsequent government action to create a secondary market for the bad loans.

 

[Jan Itor]

Still the GOP agenda even if a Dem signed it into law. Like the Bush tax cuts and the Bush war on Iraq, there are plenty of criminally complicit Democrats who also deserve blame. But each of those 3 (including deregulation) were top GOP policies. So they get the label for the disastrous consequences of their policies.

I know I've linked the story for you to read in the past about the woman (forget the name) that looked into Derivatives and recommended to Larry Summers (Sec of Treasury under Clinton) that they were dangerous and needed regulated. On a conference call, he basically bitch slapped her and told her to keep her mouth shut.

And the lack of regulations on Fannie and Freddie played a big roll in the housing bubble as well. I know you saw the hearing where every Dem involved defended Fannie and Freddie and said "nothing to see here". Including Barney Frank.

So give the Dems a little more credit than you are. They had a lot to do with regulations or lack there of.

 

[CarolinaHawkeye]

WRONG. It was due to regulations that forced banks to give loans to people who couldn't possibly repay them because the government wanted to achieve "home ownership equality".

When ever someone is screaming about equality, understand the end game is that everyone will be equally poor.

Bullshit. Not one bank was forced to give loans to unqualified buyers. Actually the reduction in regulations allowed this to happen.

 

[Jan Itor]

Bullshit. Not one bank was forced to give loans to unqualified buyers. Actually the reduction in regulations allowed this to happen.

Do not tell us the reduction was the GOP. The Democrats wanted affordable loans for minorities (blacks) thus the reason why the defended Fannie and Freddie in the hearings to determine if regulations needed to be put in place.

 

[CarolinaHawkeye]

Do not tell us the reduction was the GOP. The Democrats wanted affordable loans for minorities (blacks) thus the reason why the defended Fannie and Freddie in the hearings to determine if regulations needed to be put in place.

Not quite sure where I'm blaming one party over the other. I personally believe they were both responsible.

 

[hawklandish]

Bullshit. Not one bank was forced to give loans to unqualified buyers. Actually the reduction in regulations allowed this to happen.

You are flat out wrong, and in denial. The banks were threatened will all kinds of penalties, fines and sanctions if they failed to comply with the governments plans for sub-prime lending.

Here is one article, and I can link many others:

http://www.forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html

Another:

http://spectator.org/articles/42211/true-origins-financial-crisis

And another:

http://www.theatlantic.com/business...vernment-did-cause-the-housing-crisis/249903/