Well......THE Bill just passed

[bishopschickens]

see now here is what i love the most someone throws a valid point out and the left wing supporters have nothing to say. If it wasnt for the old "bushes fault" they have nothing. This country went downhill fast when the dems took over the house and the senate 2 years ago. Now if you want to debate someone on an issue share your feelings as you and i have that right but quit the low blows here and there when you know your wrong.

 

[s6bee]

Quote:
It sure is Brandon. It goes much higher than Bush. Oh! Did I say higher??? Yep I did! The Congress is large and in charge here. They are the ones who have ultimately failed our economy. Who is largely in control of the Congress? That's right, the Democrats. They are the ones who have failed our economy and us. Argue those facts all you want, but in the end, they still remain true.

True, but the Reps. have been voting many times the same way as the Dems have....so blame on both sides.

 

[Reinbeau]

Quote:
That was DEAD ON!!! Good link.

OMG, I'm sick to my stomach. This is so much worse the more you learn about it. The link was fantastic. The tears in my eyes are tears of frustration. Why won't people THINK??!? I know, I know, it's too hard. Some people get what they deserve - problem is most of us don't deserve this.un

 

[mtnhomechick]

Quote:
The Bush Administration proposed this BAILOUT. Both Senate and House approved it. Bush will sign it into law.

Alan Greenspan CAUSED it. JMHO

 

[Reinbeau]

mom'sfolly :

Looks to me like there is plenty of blame to go around. Here's some copy from factcheck.org, which is nonpartisan. Just something to think about. I think everyone who bought into inflated markets, used their homes as credit cards and blythely thought that 50% per year increases on their homes were a good thing all bare some of the blame, as do banks who loaned the money to unqualified people....100% financing is crazy!!!!! Unfortunately we will all pay for other people's messes.

When will banks, government and people realize that you borrow more than you bring in. The government is a fine example....the deficit is in the trillions of dollars now. I would rather have tax and spend than borrow and spend.

The Real Deal

So who is to blame? There's plenty of blame to go around, and it doesn't fasten only on one party or even mainly on what Washington did or didn't do. As The Economist magazine noted recently, the problem is one of "layered irresponsibility ... with hard-working homeowners and billionaire villains each playing a role." Here's a partial list of those alleged to be at fault:

* The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.

* Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.

* Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.

* Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.

* The Clinton administration, which pushed for less stringent credit and downpayment requirements for working- and middle-class families.

* Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.

* Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.

* Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.

* The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.

* An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.

* Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.

The U.S. economy is enormously complicated. Screwing it up takes a great deal of cooperation. Claiming that a single piece of legislation was responsible for (or could have averted) is just political grandstanding. We have no advice to offer on how best to solve the financial crisis. But these sorts of partisan caricatures can only make the task more difficult.

–by Joe Miller and Brooks Jackson

Funny, why don't I see the democrats on this list? Oh, that's right, it's all Bush's fault

 

[RASTACHICKI]

i love BILL O. He tore BARNEY 'the LISP" Franks a new one and he deserved every bit of it!!

 

[speckledhen]

Real estate agents? Puleeeze. Not any I've met...and I was one for 8 years. Talk about stretching to place blame, gee.
Remember who demanded that the mortgage companies loan to subprime buyers? It was Clinton's administration. I distinctly remember that administration demanding that the institutions loan to those people, supposedly to encourage home ownership.Anyone remember that home ownership is not a right, but a privilege?

 

[gumpsgirl]

Quote:
It sure is Brandon. It goes much higher than Bush. Oh! Did I say higher??? Yep I did! The Congress is large and in charge here. They are the ones who have ultimately failed our economy. Who is largely in control of the Congress? That's right, the Democrats. They are the ones who have failed our economy and us. Argue those facts all you want, but in the end, they still remain true.

True, but the Reps. have been voting many times the same way as the Dems have....so blame on both sides.

You're right! The blame is on both sides, it's just that everyone keeps blaming the Republicans and forgets about who is largely in control of the Congress. When the Congress goes to vote, it is the Dems that have the largest say in what goes. That was my point.

BTW: I will not argue which party is best. I am not either, I am an independent. Neither party has impressed me.

 

[chickiebaby]

I canNOT believe you are making fun of the man's speech impediment! You people just blow my mind. How far can this whole discussion degenerate.

 

[mtnhomechick]

Congress has been frozen in its shoes for the last two years.......and Bush just had to screw up one more thing on his way out the door!

Nice time to start agreeing on things!!