Why does Obama still Blame Bush for our economic woes?
I don't understand liberal. I guess they subscribe to Saul Alinsky when he said that if you lie enough people will eventually believe the lie. Obama and the liberals continue to place the economic crisis on Bush when in fact the problem lies squarely on the backs of the Democrats. It all got started with the Carter administrations CRA which required banks and savings institutions to make loans to the lower-income earners. Then along came Clinton who issued ultimatums to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. They also were threatened with denial of access to the all-important secondary mortgage market and stiff fines, along with other penalties. The banks were even given a CRA rating which was based how diverse their lending portfolio was. We know what happened from there. Financial institutions all over the world were flooded with billions and billions of toxic assets and then the Housing market crashed, which was the first domino to fall. Why does Obama still Blame Bush for our economic woes?
2012-05-31T06:58:41Z
"American citizen", why can't you just answer the question? Does the truth hurt you that much?
2012-05-31T07:00:34Z
Floyd- The financial institutions who got the bail outs paid the money back, did they not? I remember when Obama took office he threatened to veto any effort by the Congress to stop the TARP.
daisy2012-05-31T07:01:48Z
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probably because this is the liberal way and they basically do not fact check anything. you are 100% correct in that this goes back to carter. also, you may note that everyone of the obama economic failures are a dismal failure. the housing crash is due to the Dem's and they should take credit for that. but sort of goes along with the 4 million jobs that obama claims to have created. just will not tell what that info is based on. also now taking credit for spending cuts - using the tarp money that was paid back. no wonder we are bankrupt. accounting according to obama. ABO 2012
I cannot very likely be in my correct mind and not consider you. I do not blame Obama..That is for the ignorant, undereducated, non thinkers who have been mind washed via the Fox 5 community and Rush Limbaugh, Sean Hannity, Sarah Palin and the grasping money grubbing corporate businessmen. What can one do to coach them? Yell lots? I have no idea. I do recognize that corporate fascism is slipping into position and the men and women are too dumb to peer it. Liberal is a curse word? Being human and being in charge for your brother is unsuitable? Where are all those religious individuals who think they're there brother's keeper? They simply supply lip service to their religions and don't learn the phrases that Jesus spoke. It is a shame that lies and innuendo have taken the location of schooling and reality. Bad america is fitting a third world country and our men and women are hungry, reside in poverty at the same time the wealthy preserve getting richer and richer and richer......
WOW Are you misinformed. CRA 'forced' the banks to make loans? No it didn't. It made the qualifiers less, it deregulated the process but no bank was ever 'forced' to make a loan. If that were true then every bank in the US would have had huge losses when the market crash, they didn't. And it was not Carter who signed CRA into law, it was Clinton under the disguise of financial market reform. I noticed how you never said a word about the repeal of Glass-Steagal by the Republican Congress in 1999. Many warned at the time that the repeal would cause financial market collapse in the near future. And it did. I would not just blame Bush for our current economic woes. It goes back even further to Reagan and the past 30 years of failed Republican economic policies (and yes I would include Clinton in that mix).
Yeah, the republicans also took that same advice from Saul. Government take over of healthcare, Politifact lie of the year. Hypocrisy aside.
There's plenty of blame to hand around. Yes, banks were made to take on some bad mortgages, but it's partly their own fault. They know the finances of the loan taker and they give them a low interest rate to start with. Then, after a few years, that adjustable rate jumps up and, big shocker, they can't afford the new payment. Then the banks took all these failing mortgages, did some number magic to make them look nice, and sold them off as assets to, among other things, retirement funds. This is like a baker selling you what he promises is a blueberry pie, but is actually full of chopped liver.
Bush and his continued deregulation helped this happen.
If you tell people something long enough they begin to believe it. Obama has lied to the public for so long that the general public has believed his lies.