Bush tried to warn Congress starting in 2001 about financial meltdown!

Originally posted by SLAYER69
reply to post by ZindoDoone

 

Great find

But like anything with Bush nobody will give him credit he is simply just too disliked.

This reminds me of President Johnson at the time people were so angry over Vietnam they didnt noticed just how much he did for civil rights.

So anything Good out of the Bush administration will be drowned out by the anger over the war and economy.

Only history will weigh in on what was done in our best interests.

My verdict on Bush from what I've seen

But the problem is, the crash came in 2001! That is what he was talking to. THAT CRASH, not this meltdown going on now.

The republicans dominated the house and senate at the time. So they were the ones who blocked regulation. And it's Fox...

Originally posted by invisiblewoman
I know but what they are doing here warning themselves about themselves?

I'm not excusing Democrats ,I'm just saying how can you be the deregulation financial free for all for rich party, and then go someone stop us !

This was set in motion under the Clinton administration and probably wasn't a bad idea loosening up to some degree so poor minorities could buy homes. What happened however is all the other stuff like outlandish sized loans on to much property and non fixed interest rate loans. That unrealistic loosening was done under the democrats watch and was well under way before Bush came around.

Originally posted by Logarock
That unrealistic loosening was done under the democrats watch and was well under way before Bush came around.

And yet Bush let it go on for 8 years. Bah. It's always the Dems fault ain't it?

[edit on 7-2-2009 by mental modulator]

Originally posted by rizla
The republicans dominated the house and senate at the time. So they were the ones who blocked regulation. And it's Fox...

In 2001, Democrats had majority in the senate. Tom Daschle was Majority leader.

reply to post by Anonymous ATS



Well we see the Dems and Repubs were are the same page here. This was a good idea but this type of project needs major observation and regulation ect ect.

What happened was that all the feeders in the industry saw this as a green light to rake it in, got stupid, greedy and firm regulation was not in place to keep the lid on this potentially wild horse program and it go away.

It was really designed to get renters into their own homes NOT freekin mansions! I mean a family renting paying about 600$ a month should have just qualified for that if all they did was buy the place they were living in. Instead they moved up to park place without any increase in income.

Originally posted by riggins44

Originally posted by rizla
The republicans dominated the house and senate at the time. So they were the ones who blocked regulation. And it's Fox...

In 2001, Democrats had majority in the senate. Tom Daschle was Majority leader.

And a man with a pen...

Originally posted by mental modulator

And a man with a pen...

So he could have vetoed? The vid suggests shows Bush was not in favor of regulation. Bah. It's always the Dem's fault, ain't it?

What is interesting is that FNMA and and FHLMC (known herein as "Fannie Mae" and "Freddie Mac") are not at the heart of the problem but a victim of the our financial malaise. More telling is that not one word is mentioned by GWB about credit default swaps and collateralized debt obligations and their role at placing financial institutions at risk, either indicating a general lack of understanding of the Finance, Insurance, and Real Estate (FIRE) sector or an attempt to mislead listeners as to the true nature if our current financial crisis. Furthermore, not one word is mentioned about the fiscal and monetary policies that led to the housing bubble, which one of several factors at the heart of the matter.

Do not be misled by this story on Fox News. It's just politics as usual. One should ask these questions: "Why is this story being aired at this time?" and "Why wasn't this story aired back in late 2008 when the first stimulus package being considered?"

Originally posted by optimus primal
i like what the first commentator has to say (currently first)on youtube. bush had how many years and opportunities to tell the american people this? and he didn't why? i think that in itself says volumes...

Well he was rather occupied. Why didn't some demo talking head step up? To busy counting money money money?

So someone posting thinks those videos about the'American Dream'is some kind of sincere populist ,gesture of caring about American People *as he calls everyone who isn't an Elite

How can anyone listen to this garbage with out spewing?

I'm not going to go into every speech he made they ALL had the same formula

911 changed 'America
war is new the American export,and our only 'product'
I'm the decider and I think you should leave everything to me and my Elite friends
I know the Mercans are hurting ,but they are ' a resilient people'
so I don't think I need to worry about that

there that's EVERY BUSH SPEECH

OH AND FYI TO DREAM YOU MUST BE ASLEEP

Originally posted by rizla

Originally posted by Logarock
That unrealistic loosening was done under the democrats watch and was well under way before Bush came around.

And yet Bush let it go on for 8 years. Bah. It's always the Dems fault ain't it?

But its always the repubs fault then? You guys really are the worst about taking your medicine.

reply to post by Logarock


well you gotta go on the Nancy Peolsi ,is as corrupt as Bush thread and then you'll see we aren't just blaming The Decider

it's just that that's another thread

Originally posted by invisiblewoman
So someone posting thinks those videos about the'American Dream'is some kind of sincere populist ,gesture of caring about American People *as he calls everyone who isn't an Elite

How can anyone listen to this garbage with out spewing?

Man are you kiding? Haven't you been listening to Bama? Hes like king sh** mouth! Hes like classic populist government save the people big talk BS'er from FDR to LBJ, just pours it on. Bush got fuddy duddy but Bama is a classic purple belter.

Of course Bush warned about the crisis well ahead. He knew he was going to go to war and that it was going to cost hundreds of billions. Nobody listened to him because they though he was stupid.

reply to post by Logarock


I said check Nancy Pelosi thread that's were us 'Liberals are bashing ourselves

it's very cathartic ,you NeoCons should try it sometime*bashing yourselves that is *

do you really believe that you can keep blaming the American people and The Dems for a self announced Republican Right Wing PLAN! to deliberately destroy the country?

I blame Democratic greed and laziness for standing around and letting it happen, and profiting from it ,not for the the plan and execution

Originally posted by invisiblewoman
reply to post by Logarock

 

I said check Nancy Pelosi thread that's were us 'Liberals are bashing ourselves

it's very cathartic ,you NeoCons should try it sometime*bashing yourselves that is *

do you really believe that you can keep blaming the American people and The Dems for a self announced Republican Right Wing PLAN! to deliberately destroy the country?

If thats a plan its a team effort you can believe that.

reply to post by Logarock


True dat Logarock ! true dat!
we've been button hooked from both ends

The truth is they are both at at fault. You can nitpick all day on who did what but it doesn't matter now. The fact is that many of the people that ignored or denied this was going on ARE STILL IN OFFICE.

Both Democrats and Republicans.

They are essentially the same with the only real differences being what special interests they cater too.

I know that many cannot resist vouching for there side....but they are both at fault.

Once you realize this, you will seem them both for what they really are.

Liars and thieves of your money.



[edit on 7-2-2009 by David9176]