CLAIM: liberals destroyed the economy in 2 yrs.!
- Thread starter The Other Side
- Start date
tieguy
Banned
Clinton loosened them up. when the republican leadership including bush and mccain tried to tighten them up the liberal wacko's in congress defeated their efforts by playing the rich picking on the poor game.
Sorry, Tie, but the way I remember it, was the Republicans put the bill through, they were in the majority at the time.
Trent Lott and all, remember those 'good old days'?
av8torntn
Well-Known Member
If you are talking about the bill that repealed the Glass-Steagall Act it passed the Senate 90-8-1 and was signed into law by Clinton. The repeal of this act was a good thing. In most of the rest of the world banks can operate both in banking and securities markets. My guess is that the real problem lies with the governments encouragement of higher risk loans.
Catatonic
Nine Lives
Originally Posted by passerby
Sorry, Tie, but the way I remember it, was the Republicans put the bill through, they were in the majority at the time.
Trent Lott and all, remember those 'good old days'?
Both are correct and the extra kicker was that the Democrats negotiated that the standards would be loosened up to facilitate lower income/higher risk applicants to get a mortgage and this was further encouraged by Bush because of his vision of an ownership society.
All in all, more than enough blame to go around everywhere.
Sorry, Tie, but the way I remember it, was the Republicans put the bill through, they were in the majority at the time.
Trent Lott and all, remember those 'good old days'?
Both are correct and the extra kicker was that the Democrats negotiated that the standards would be loosened up to facilitate lower income/higher risk applicants to get a mortgage and this was further encouraged by Bush because of his vision of an ownership society.
All in all, more than enough blame to go around everywhere.
tieguy
Banned
I do , I also know that republicans tend to lose ground when someone plays the race card or the rich beating on the poor card. Go back and revisit and I think you'll see what I'm referring to.
paidslave
Well-Known Member
And your lib running for President Mr Mcplain wants to buy all the bad mortgages and replace these with new valuations on these people houses and give them a .05 percent loan, how nice of the lib.
Caveat Emptor, Buyer beware of what you purchase....Hold these people accountable for there purchase in an investment.....Fanny and freddie wants their money back!
Free houses for everyone! Free Free Free.........rack the deficit up some more libs!
diesel96
Well-Known Member
And Mcsame
wants to buy these mortages at inflated levels, how senile....McSocialist
tieguy
Banned
I don't know why you want to speak about some fictitous candidate running for some presidency when you have your own liberal leadership to crow about.
No other congressional leadership has ever destroyed an economy quicker then yours. It shows what liberals can achieve in a short time period when they put their minds to it.
wkmac
Well-Known Member
Sadly the democrats had plenty of help. Like the housing bubble, shared blame on that too IMO!
http://www.sourcewatch.org/index.php?title=U.S._minimum_wage_legislation
BIG Amen to that!
av8torntn
Well-Known Member
Sadly the democrats had plenty of help. Like the housing bubble, shared blame on that too IMO!
http://www.sourcewatch.org/index.php?title=U.S._minimum_wage_legislation
I could say something like everyone that voted against it was a republican but I get the feeling you do not want to play the point your finger blame game. OK how about this. The true fault lies with us the voters. We demand our elected officials follow the whims of the polls. We should be electing people who act on principal when that is the last thing on our list as voters. We should be demanding that government protect our freedoms where instead we demand the government solve problems which always ends in the destruction of our freedoms. Think about it an illegal alien has the ability to work for whatever wage his skills will bring in the labor market and a citizen does not. Think about it an 18 year old soldier stationed overseas has the freedom to choose weather or not to drink alcohol but not in the states. I could go on and on which would bore many here but the fact remains the blame really lies with us the voters. As someone famous once said that's a fact Jack.
wkmac
Well-Known Member
I just looked at the vote totals at the end of the day and saw that it all wasn't one-sided democrats and President Bush signed the final bill (HR. 2206) into law when he could have vetoed. The economic mess is both parties but you are correct that the ultimate responsible party is the american voter who continues to send the same old crowd back to Washington to do the same old thing over and over again. Republicans will accept creeping gradualism as long as they get their cut for the legislation. The bailout was hugely voted down in the first go by republicans until they got their skids greased and then it was all but done. In other words, republicans have to be paid so to speak and then they will openly endorse socialism.
Maybe Americans are just turning to the democrats as a means of getting a cheaper costing socialism! Now that's fiscal responsibility!
Until the voter wakes up to realize the con job done on them by both parties, I only see things getting worse and whether it be Obama or McCain, democrat or republican, gov't will grow and freedom and liberty will continue to erode and die!
TIEGUY,
Still waiting for your chance to clarify how the dems took the country down in 2 years??
This was your claim?
This is your thread to convince us all?
Still waiting?
Still waiting for your chance to clarify how the dems took the country down in 2 years??
This was your claim?
This is your thread to convince us all?
Still waiting?
av8torntn
Well-Known Member
Wow I just looked at the "final" vote and you are right. Only 37 dims voted yes. LOL Do you remember why? They made this a priority of their control of congress and they could only get 37 votes in the Senate. Maybe they are not as stupid as I thought.
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tieguy
Banned
Susan,
Whats wrong are living with blinders on? The destruction your libs have wrought on this economy is there for anyone to see. YOu should be proud of the destruction they have wrought in a mere two years.
tieguy
Banned
Crash and burn...but then if Obama gets elected I'd be sharing it with the wino down the street.
Catatonic
Nine Lives
Originally Posted by over9five
Tie, how's your 401k doing? Mine was doing incredible when the Republicans had control.
Now that the Dems have control...... well..... it sucks.
Crash and burn...but then if Obama gets elected I'd be sharing it with the wino down the street.
Yous guys are too much!
Braveheart
Well-Known Member
The Glass- Steagal Act of 1933 was passed to prevent another "Great Depression".
The Republicans have been gutting the law ever since.
In 1980's the Republicans pushed through the Garn-St Germain deregulation with the help of some Democrats and we got the Savings and Loan collapse. Does the name Charles Keating ring a bell? He was a close personal friend of John McCain.
Then there are all of the laws pre-empting states rights to enact stronger laws protecting consumers. Then there are all the laws making it harder to prosecute or sue lenders for fraud or predatory lending.
Then [R] Phil Gramm, one of the biggest culprits, in 1999 pushed through Gramm-Leach-Bliley further deregulating and gutting the Glass-Steagal Act. He was not done just yet. He then pushed through the Commodities Futures Modernization Act on a lame duck congress on an omnibus appropriations bill deregulating derivatives trading. Does anyone remember ENRON? Gramm's wife was on the board at Enron.
Many Democrats voted for these piles of crap. However the Republicans were the majority, they were the ones pushing them through, they were the deregulators, the were the ones getting huge campaign contributions from finance, insurance, banking and real estate companies. The Republicans controled all 3 branches of government for 6 years. In fact the Republicans have controlled both the legislative branches for 12 of the past 14 years.
Yet is all the Democrats fault in less than 2 years. What a brainwashed person you must be. I agree that there are some Democratic faults. But to blame the economic crises on the Democrats when Bush still had veto power is absurd. The minimum wage had zero to do with the current crises. Remember that Republicans voted for the same legislation that helped create the sub-prime lending and investment with slack oversight that ALL the banks abused, not just the Freddie and Fannie banks.
Derivatives trading, credit default swaps, short sales and deregulation have only made the stock market legalized gambling with no money in the bank, no credit, no limits, no one at the wheel and no one keeping any thing honest.
These people are manipulating and speculating to the point they control the rise and fall of oil and energy prices, stock prices and so forth like a casino. The bets were all bad and yet nobody had the money to pay up when they went wrong!
This would be the same as handing the keys over to a habitual drunk driver who has a speeding problem to boot. Then tell him the speed limits are all gone, you need no proof of insurance or a CDL for that matter, the Police Force has been cut in half, then raise the alcohol blood level to .20 instead of .08 and the punishment for speeding is $1 per ticket and $5 per DUI with ZERO points on your license. There would need to be at least 5 witnesses of said crimes for there to be a conviction as well.
The Republicans have been gutting the law ever since.
In 1980's the Republicans pushed through the Garn-St Germain deregulation with the help of some Democrats and we got the Savings and Loan collapse. Does the name Charles Keating ring a bell? He was a close personal friend of John McCain.
Then there are all of the laws pre-empting states rights to enact stronger laws protecting consumers. Then there are all the laws making it harder to prosecute or sue lenders for fraud or predatory lending.
Then [R] Phil Gramm, one of the biggest culprits, in 1999 pushed through Gramm-Leach-Bliley further deregulating and gutting the Glass-Steagal Act. He was not done just yet. He then pushed through the Commodities Futures Modernization Act on a lame duck congress on an omnibus appropriations bill deregulating derivatives trading. Does anyone remember ENRON? Gramm's wife was on the board at Enron.
Many Democrats voted for these piles of crap. However the Republicans were the majority, they were the ones pushing them through, they were the deregulators, the were the ones getting huge campaign contributions from finance, insurance, banking and real estate companies. The Republicans controled all 3 branches of government for 6 years. In fact the Republicans have controlled both the legislative branches for 12 of the past 14 years.
Yet is all the Democrats fault in less than 2 years. What a brainwashed person you must be. I agree that there are some Democratic faults. But to blame the economic crises on the Democrats when Bush still had veto power is absurd. The minimum wage had zero to do with the current crises. Remember that Republicans voted for the same legislation that helped create the sub-prime lending and investment with slack oversight that ALL the banks abused, not just the Freddie and Fannie banks.
Derivatives trading, credit default swaps, short sales and deregulation have only made the stock market legalized gambling with no money in the bank, no credit, no limits, no one at the wheel and no one keeping any thing honest.
These people are manipulating and speculating to the point they control the rise and fall of oil and energy prices, stock prices and so forth like a casino. The bets were all bad and yet nobody had the money to pay up when they went wrong!
This would be the same as handing the keys over to a habitual drunk driver who has a speeding problem to boot. Then tell him the speed limits are all gone, you need no proof of insurance or a CDL for that matter, the Police Force has been cut in half, then raise the alcohol blood level to .20 instead of .08 and the punishment for speeding is $1 per ticket and $5 per DUI with ZERO points on your license. There would need to be at least 5 witnesses of said crimes for there to be a conviction as well.
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