Thursday, March 26, 2009
Explain to me again why we are not supposed to blame Bush for the current crisis?
Keira at 11:09pm March 25
um, um...because he 'kept us safe'?? ;) Of course he's to blame! Numb nut!
Paulina at 11:10pm March 25
no no no you are not allowed to blame him.
Paulina at 11:11pm March 25
I'm reading republican blogs - and all I can say is wow!
Keira at 11:11pm March 25
of course not, it's unpatriotic to do so, but it's ok to hope Obama fails...talk about double standards!
Keira at 11:12pm March 25
they're delusional!!! they have more pettiness in them than my 5 y/o nephew!!!
Paulina at 11:16pm March 25
It's so hard for me to reconcile what's going on - I don't understand how the very people who were at the helm can criticize the one trying to fix the mess. And with such hatred - you should read some of these blogs. Why are the so desperate for him to fail???? Why so harsh?
Keira at 11:46pm March 25
they're still bitter about the kick in the ass they got! They're champions at distorting things to their advantage, but I think the people see thru that BS! And no one gives a damn when they come crying to the media "obama doesn't listen to us". Blah!
Susan at 7:44am March 26
Maybe if you've been in a coma for the past 8 years you can get away with it.
Matt at 8:48am March 26
Keep on having fun slapping Bush around. As bad as he may have been, the fact is BHO's economic plans are going to make things much worse. He is planning to take our debt from 5% GDP to a hair under 30%, and in 2019 it will be 80% of GDP!!! Think about that! On what planet is this smart? Where in history has this worked before? Can anyone name ... an economically prosperous nation with such incredible levels of government debt? What country has ever taxed itself into prosperity??? And where's this money going to come from? Oh yeah, we'll just borrow it from foreign governments like China, who will gladly buy our treasuries. Whoops, their hinting that they're not going to buy them anymore. Want to see where our country is headed? Look at the UK, California, NY and Michigan. When the president of the EU says our policies are like a "road to hell", it's time to wake up!
Ed at 10:32am March 26
I can't explain it in a tiny post, but maybe M. Jay Wells can ...
"The New York Times reports that the [Bush] administration recommended "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago," calling for new supervision of Fannie Mae and Freddie Mac by the Treasury Department. Reportedly, congressional Democrats "fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing."
Treasury Secretary John Snow testifies that Congress should enact "legislation to create a new federal agency to regulate and supervise the financial activities of our housing-related government-sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements, says a White House release.
But Rep. Frank replied: "I do not think we are facing any kind of a crisis" ...
Ed at 11:37am March 26
In the sense that Bush did not use the bully pulpit of the Presidency to fight for the the reforms he obviously supported, then, yes, in that regard, we can say it is Bush's fault -- He did not have the backbone, resolve and wherewithal to stand up to the obstructionists and vested interests on Capital Hill ...
Alex at 11:44am March 26
Talk the talk, but walk the walk?
Oxley (R., Ohio) pulled the bill before a vote because of opposition from the Bush Administration. The GOP had control of both houses of Congress in 2003.
Oxley pulls bill under fire from Bush
Squabble over powers of Treasury over Fannie, Freddie...
By David Weidner, CBS.MarketWatch.com
Last update: 7:29 p.m. EDT Oct. 7, 2003NEW YORK (CBS.MW) — Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac.
Both Oxley and the administration support a proposal to remove regulatory oversight of the GSEs from the Department of Housing and Urban Development. Oxley’s bill would maintain HUD’s oversight of new products designed to encourage home ownership.
Assistant Treasury Secretary Wayne Abernathy, speaking before the Institute of International Bankers in New York, said the Treasury Department would not have enough power u...
Ed at 1:20pm March 26
The previous post actually reinforces my point. Simply asking to pull an ill-conceived bill does not not discount the Bush Admin's attempt (albeit seemingly feeble) at "real" reform. It wasn't just a turf "squabble." Giving or retaining Fannie & Freddie oversight to HUD would not have solved anything--it's like the fox guarding the hen-house! HUD programs (& the CRA) actually encouraged the reckless lending!!!!! I know it's lengthy, but try and actually read the IBD post/link I reference. It's funny how the politicians have skillfully re-directed the blame and anger from themselves and their pet GSEs that do their bidding to the "the rich", or "Wall Street," an easy target because apparently those fatcats have been brilliantly keeping me from my money, and yours too!!! I've got any idea! Why not borrow and steal and tax even more my from us and future generations (it is not really ours anyway; we just work for it) to clean up the mess they created in the first place.
Posted by peculiarwit at 1:26 PM