Are there really people out there who believe the near total financial collapse...

B

Bush Tird Thermer

New member
...last October was due to..? ... the government debt?

The government debt might have made in more difficult for us to bail out the banks, but the debt was not responsible for the collapse.

It wasn't due to the Freddie/Fanny mandates either.

It was a systemic problem caused by deregulation policies, started by Ronnie Raygun and continued by republicans (and some dems) ever since.

You can say what you want about this, but these are the facts. You either have to accept Bush's word that this near collapse was real and due to his and republican policies or that he lied to redistribute the wealth from us to the rich.

What is it gonna be?

Bush for Tird Therm! Who's with me?
 
Oh so the fact that all major lenders especially Freddie Mac and Fannie Mae were not seeing a dime in mortgages since everybody was going foreclose therefore them losing billions in revenue is not a cause for you? The fact that this was also done by major banks and that they all got touched is not a cause? since it affected the spending in general per capita therefore touching the economy at every level of its industry, manufactures and consumption is not a cause? how about the fact that credit cards have seen a drop in revenue and a huge amount of delinquency ... still not a cause?
Actually you might be right ... the real cause was GREED.

As for you blaming the Republicans i will once more mention this. (you can find these facts anywhere on the net do a search)
President Bush in 03 wanted to regulate the lending market he was rejected by the Democrats as in "too much government involvement in private sector"
Then in 05 & 07 McCain TWICE re introduced the bill to change the regulation and impose stricter controls and limits on lending ... both time ... you guessed it .. rejected by the Democrats.
So go ahead blame Bush all you want ... at least HE and the Republicans tried to fix the problem BEFORE it happened.
You are welcome.
 
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