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

To: Little Joe who wrote (125470)	10/28/2012 12:28:34 PM
From: koan	2 Recommendations Read Replies (3) \| Respond to of 149317

Whatever you are reading you need to quit it. It is dead wrong. Both the deficit and the 08 debacle are well understood. Deficit: The non partison congressional budget office said the 3 bush tax cuts on the rich and the two wars were the cause of Bush ballooning the deficit from 5 to 10 trillion dollars. 08 crash: The 08 crash was caused by the credit markets seizing up 'OVERNIGHT' and the libor rocketing to 4%. The entire world financial markets were in freefall. The credit markets seized up because of the bogus collateralized debt obligations (CDO's) which were junk bonds stamped triple AAA by Moody's and S and P and bundled and then sold in billion dollar chunks to banks around the world that trusted us/Moodys! All of this happened on Bush's watch and the bail out was requested by Bush! Banks did not know what was in the CDO's and refused to loan to each other or anyone. That caused the world markets to crash and credit default swap market to face bankruptsy and why AIG to needed a 182 billion infusion of cash requested by Paulson, on his knees begging Pelosi! All of this happened because Bush (and Greenspan) refused to regulate the banks and Wall street believing in unregulated capitalism. Everyone knows this stuff. t is common knowledge. Like all right wingers you need to get yourself educated and quit believing brain dead right wing talking points and Faux news. Bush caused all this, and is why you didn't hear a peep about Bush at the Republican convention. They acted like he never existed. <<Oh come on Koan, Krugman was the intellectual father of the housing crisis. He advocated this disastrous policy which is and was the main cause of our economic problems. You can assert that lower taxes were the problem but you cannot make an argument for this concept. I know that is not in accord with the Dem talking points, so I have probably just confused you.