Uh, Hillary, Your Hubby Caused the 2008 Recession

Black Tuesday the stock market crash of 1929, had a Republican as president. The United States of America didn't elect another Republican for president for 20 years.

Accountability, and personal responsibility, for all unless your the extreme right. If history doesn't fit the narrative just make something up.

originally posted by: AboveBoard
But it is hardly the sole factor in the meltdown.

No, there are many more including, but not limited to, government mandated lending practices, the Federal Reserve's easy money policies and unscrupulous behavior by lenders.

I would say this is proof that some regulations are good. Banks should be regulated to prevent human greed and avarice from trumping sound business decision-making.

You cannot prevent greed only limit it but I agree that certain regulations were/are required.

a reply to: Orionx2
a reply to: Hazardous1408

Theres some truth to what youre both saying but it was actually caused by the Federal Reserve's artificially low interest rates and the banks' blood thirsty desire to make money ie sell loans/debt.

Until the crash, banks had no fear providing loans since they were collateralized.

They couldnt care less if a person was unable to pay, they would simply take your home.

What these vultures didnt anticipate was the crash of home prices which is very rare in the housing market.

a reply to: xuenchen

So...you decided to ignore the fact that the 2008 economic disaster was the orphan of many fathers...huh? Well...first of all, that was a hasty assumption pushed by the NEOCON's in the attempt to hide their involvement and gain political points blaming everyone they saw as a threat to their agenda. Look...it was the "perfect storm" where Wall Street power brokers with their "greedy" for profit shenanigans met to roost. However, you and other GOP shills can't resist trying to keep things simple. Everything is easy to simpletons. They tend to ignore the true facts and discredit any criticism of their behavior regardless of the consequences. Don't get me wrong, I "wish" things were as easy as you people think, but, I'm a realist and I know such events are complex. Too complex actually. And I refuse to live in a cloud of ignorance only to make things easy. Both parties are corrupt. And, to the extent they share more of the same mentalities than they care to admit. The "good cop, bad cop" game is over to too many of us who know the difference. As a result, I refuse to list the evidence, for I'm sure you already know. And it's obvious you only want to make things easy. But, please try to produce a thread that offers a better argument than the one you offered now. Quotes from ancient bumper stickers no longer apply. After all, anyone with any sense can match your silly assumptions with facts concerning the GOP's corruption and how it applies to all arguments placing blame.

a reply to: dagann

You forgot to mention why Hillary lied about taxes being the cause !!

the actual default of so many mortgages was only a small part of the problem, it was what was done with those mortgages afterwards that caused the greatest headaches.
and quite frankly, there was plenty of blame to go around, from appraisers deliberately inflating the values of the homes, to the lenders not taking the risk seriously, to those who were grading crap bundles of mortgage shares with A quality, to the Bush administration who were not only repeated warned that a problem was developing but stood in the way of various state attempts to get some kind of control over the problem!!!

This was but one of many instances of state posses sounding early alarms about the irresponsible lending at the heart of the current financial crisis. Federal officials brushed aside their concerns. The OCC and its sister agency, the Office of Thrift Supervision (OTS), instead sided with lenders. The beneficiaries ranged from now-defunct subprime factories, such as First Franklin Financial, to a savings and loan owned by Lehman Brothers, the collapsed investment bank.

Some states, including North Carolina and Georgia, passed laws aimed at deterring rash loans only to have federal authorities undercut them. In Iowa and other states, mortgage mills arranged to be acquired by nationally regulated banks and in the process fended off more-assertive state supervision. In Ohio the story took a different twist: State lawmakers acting at the behest of lenders squelched an attempt by the Cleveland City Council to slow the subprime frenzy.

A number of factors contributed to the mortgage disaster and credit crunch. Interest rate cuts and unprecedented foreign capital infusions fueled thoughtless lending on Main Street and arrogant gambling on Wall Street. The trading of esoteric derivatives amplified risks it was supposed to mute.

One cause, though, has been largely overlooked: the stifling of prescient state enforcers and legislators who tried to contain the greed and foolishness. They were thwarted in many cases by Washington officials hostile to regulation and a financial industry adept at exploiting this ideology.

www.bloomberg.com...

a reply to: xuenchen

well, indirectly, maybe it was??

this is what I remember of the time...
9/11 happened, and I really think that hurt us more financial that we'll ever know.
so bush started the wars.. didn't bother putting the much of the cost of them in the budget.. which is part of the reason why the debt increased so much in the obama administration, that cost was accounted for. add to that the cost of the bank bailouts and we've got a pretty sizable amount of money!!
and of course, bush had to give his friends and buddies nice big tax cuts!!! part of the reduction in the budget he found to offset the loss of that tax revenue was to reduce amount the federal gov't gave to the states for the medicaid programs.
suddenly in ny, we were finding the state and counties increasing taxes and fees everywhere they could think of to make up for the loss of that federal money. this was going in in many states and people were not happy!!
then suddenly, bush was talking about the "ownership society".

We're creating... an ownership society in this country, where more Americans than ever will be able to open up their door where they live and say, welcome to my house, welcome to my piece of property. - President George W. Bush, October 2004.

en.wikipedia.org...

by increasing the opportunity to buy homes while appraisers gave inflated values on their homes, countries could get more money in property taxes, and there was a less need for them keep increasing taxes and well the homeowners were happier because the values in their homes were rising amazingly.

this is just my observation and memory of what happened during this time. but it does seem like the bush administration had a reason to not want to hinder the bankers and investors money maker scheme.. and well, he almost made if out of the white house before it erupted...

originally posted by: enlightenedservant
a reply to: xuenchen

Wait a second. You know that Clinton left office in January of 2001, right? So if the 2008 financial crisis is somehow the result of Pres Clinton's actions, why didn't Bush and the Republican controlled Congress do anything to undo Clinton's work? Or are we supposed to forget that Republicans controlled both Chambers of Congress for most of Bush's presidency and for the last 4 years of Clinton's presidency?

Obstructionist Democrats like Hillary Clinton and Barack Obama.

a reply to: xuenchen


LOL why do even adults need resess? LOL
OK so u r not even a adults ur just a big bunch of kids

YEA LOL im going to be a adult then say oooook all the sudden im gonna need resecss? LOL
ya u go play with the little boys u go play witht he little girls
quit runnin a country then just go play on a slide or swings??????

HAHAHAHA ok guys... whatever. srsly do u even think adult should be acting thsi way?
theres like 10 or more times the whole situation if u watch the news

look im not gonan even goin to give this a response its just.. just.. wow u think our presidents have
better time on there hands