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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: kathtoo who wrote (60241)	2/27/2009 5:39:21 PM
From: TimF	2 Recommendations Respond to of 224755

Carl Rove, Bush, Cheney, et all brought us this financial destruction Not really. Which isn't to say they didn't play a role at all, but its unreasonable to say its primarily or mostly their fault. Bush sure didn't balk at the first bailout plan by Paulson did he? No he didn't. I wish he did. Definitely scary times. But please lets quit blaming, Carter, Clinton, and Obama, and skipping Reagan, Bush, Bush, What did Reagan or Bush I do that was a source of the problem? Actually I'd like you to tell me what you think Bush II did as well. I would say his administration did contribute to the problem, but I'd like to see why you think he did. I think I'm likely to disagree with the reason you give, but who knows we might agree. Clinton repealed Glass Steagal and helped usher in this time of financial irresponsibility I don't think that fact is very relevant. My point about Clinton is 1 - He pushed a more expansive vision of the CRA, and 2 - He increased the ability of people to not pay taxes on capital gains from owner occupied housing.

To: kathtoo who wrote (60241)	2/27/2009 6:03:05 PM
From: Little Joe	4 Recommendations Read Replies (2) \| Respond to of 224755

It is just as hypocritical not to blame the dems who participated in this debacle. Frank, Biden, Maxine Waters, Rubin, etc. The truth is both parties bought into the borrow and spend, export manufacturing, funny money game and the bomb just exploded on Bush's watch. Now Obama is listening to the same fools and crooks who got us into this mess to get us out. Ain't going to happen and the sooner he realizes this the sooner we will fix this mess. I am really upset by the yellow dog dems and Reps who only want to point the finger at the other party. If you have any brains at all you realize this was a failure of both parties. Worse it was not only their stupidity but their greed that caused this problem. WE NEED A NEW PARTY. These guys will never reform and they are disenfranchising all Americans. lj

To: kathtoo who wrote (60241)	2/27/2009 6:51:26 PM
From: lorne	1 Recommendation Respond to of 224755

kathtoo...."Carl Rove, Bush, Cheney, et all brought us this financial destruction,"..... And...." Greenspan in particular fueled the housing bubble and allowed moral hazard. Under GWB it went on steroids.".... All presidents have advisers on whom they depend for expert advice on what they should do about problems... some advisers are good some not. Bush adviser: Housing-bubble fears overblown Economic advisor Bernanke sees prices market-driven, not speculation Tues., July. 12, 2005 msnbc.msn.com WASHINGTON - The Bush administration is closely watching the housing boom, though so far the surge appears to be driven mostly by basic market forces and not speculation that could lead to instability, Ben Bernanke, the president's top economist, said Tuesday. Federal Reserve Chairman Alan Greenspan and some private economists have raised concerns that the market may be getting too hot. Speculative buying and selling seem to be cropping up in some areas, but other forces also are feeding the hot market and the surge in house prices, Bernanke suggested. "While speculative behavior appears to be surfacing in some local markets, strong economic fundamentals are contributing importantly to the housing boom," said Bernanke in his first speech as the new chairman of the White House's Council of Economic Advisers. Those fundamentals, he said, include low mortgage rates, rising employment and incomes, a growing population and a limited supply of homes or land in some areas. "For example, states exhibiting higher rates of job growth also tend to have experienced greater appreciation in house prices," said Bernanke, a member of the Federal Reserve Board before assuming his new post in late June. Greenspan has said there are signs of "froth" in some local markets where house prices seem to have risen to "unsustainable levels." It doesn't appear likely, however, that a national housing bubble, which could pop and send prices tumbling, will develop, the Fed chief has said. Greenspan also has raised concern that the froth in housing may have spilled over into mortgage markets with the rise of risky interest-only mortgages and the introduction of relatively exotic forms of adjustable-rate mortgages. "The administration will continue to monitor" developments in the housing market, Bernanke said. "However, our best defenses against potential problems in housing markets are vigilant lenders and banking regulators, together with perspective and good sense on the part of borrowers." Bernanke's comments on housing were contained in a broader speech delivered to the American Enterprise Institute on the need for Americans to gain economic security in a fast-changing, competitive global marketplace. He highlighted the importance of workers refreshing job skills to remain competitive and emphasized the importance of improving education, especially in math and sciences. He also stressed the need for Americans to gain more control over their economic security — themes consistent with the Bush administration's message. Bernanke, 51, is frequently mentioned as a possible successor to Greenspan, who is expected to step down early next year. Before going to work at the Fed, Bernanke was a professor at Princeton University and chairman of the economics department.