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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (986028)	12/7/2016 1:24:53 AM
From: i-node	Read Replies (2) \| Respond to of 1574879

We've had this discussion before. It is abundantly clear that Bush did not cause the financial crisis of 2008. He just didn't. There is nothing anyone can point to to suggest otherwise. I would suggest you think about that. OTOH, it is clear the Brooksley Born affair was a precursor to the 2008 crash. Clinton knew it, was warned about it, and summarily fired her for bringing it up. Bush administration officials warned Congress at least a dozen times that action needed to be taken and Barney Frank and Chris Dodd flatly refused to act on it. At some point you have to place blame where it belongs and not on the person who was standing when the music stopped. Bush probably saved the US economy by pumping 700 Billion in tax dollars into the system. This is what Clinton did when LTCM collapsed in '98. But it was much smaller and they got the banks to chip in over the course of a weekend to salvage the situation. But in '08 it was far too big. The collapse of the economy in '08 was a result of the increase in unqualified borrowers. We know that. But this didn't happen instantaneously. It started in the early 90s, during which time new Regulations were issued and new borrowing practices were adopted. In fact, FNMA didn't adopt the new practices until much later, but that is really what led to the failure. I have shown you time and again that the Bush tax cuts generated MORE tax revenue not less. You are never going to understand economics as long as you mired down in this liberal bullshit. Obama's biggest failing is the same as yours: not understanding what causes economic growth. The Iran deal was pretty terrible, though.