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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Neil H who wrote (96133)	7/6/2011 5:06:37 PM
From: tejek	Respond to of 149317

Ted - You are not being real if you are always blaming the Repubs for everything, like you do. I would say that many Dems were directly responsible for the last crises - they pushed the banks and Freddie and Fannie to loan to what previously were unqualified people. You can go back to Bill Clinton, and continue right up the line including the topic of this thread. One of the biggest offenders was Barney Frank First of all, it actually was Mr. Bush who pushed for banks to expand home ownership in this country. It was one of the planks in his compassionate conservative platform. Secondly, does the wife get thrown in jail if she nags her husband to earn more money and he turns around and embezzles funds from his company? I think not. The truth is the banks and Wall Street decided to capitalize on a housing boom that started very naturally. Baby boomers were upgrading and buying second homes after 8 years of an economic expansion under Clinton, the longest since WW II. When it looked like the boom was petering out, banks came up with ingenuous and questionable mortgage instruments to extend the boom, encouraging their appraisers to cheat on their appraisals and lowering their credit standards to expand the potential owner population. Wall Street enabled and abetted by taking these crap bank loans and packaging them into derivatives that hid the true nature and quality of these notes. And in the meantime, the Bush administration whistled and stared off into space rather than do their job which was to govern and regulate. I was in real estate just prior to the boom. It makes me very angry to know that so many rules were broken; so many corners were cut; that Bush ignored his mandate to govern while his cronies sucked us dry. But what makes me even angrier is that intelligent people like yourself who voted for Bush twice don't admit to any culpabilty and instead try to find Dem scapegoats to redirect the blame and keep yourselves guilt free. And why? So that you all can take every last penny you have earned with you. I suspect you all have gotten away with this BS in the past. But its not going to happen this time.....not on my watch. Repent and then we can talk!