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Thread: President Obama Takes a Break at Camp David

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by j-mac View Post
    Bush created the housing bubble.....

    that is funny stuff right there...

    j-mac
    bush* didn't create the housing bubble. The housing market was bubbling during that Clinton years. However, bush* not only did nothing to fix the problem, he threw fuel on the fire (my apologies for mixing metaphors)
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by Sheik Yerbuti View Post
    I don't see anyone blaming only Bush for the collapse. I've personally included Clinton in sharing the blame, as well as others. But why do you think the bill was called the Gramm-Leach-Bliley Act?
    The ABC's of republicanism require that they Always Blame Clinton.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  3. #373
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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by The Barbarian View Post
    The second Glass–Steagall Act (the Banking Act of 1933) was a reaction to the collapse of a large portion of the American commercial banking system in early 1933. Literature in economics usually refers to this latter act simply as the Glass–Steagall Act,*

    The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm-Leach-Bliley Act effectively removed the separation that previously existed between Wall Street investment banks and depository banks.

    The repeal enabled commercial lenders such as*Citigroup, which was in 1999 the largest U.S. bank by assets, to underwrite and trade instruments such as*mortgage-backed securities*and*collateralized debt obligations*and establish so-called*structured investment vehicles, or SIVs, that bought those securities.[22]*Elizabeth Warren,[23]*author and one of the five outside experts who constitute the Congressional Oversight Panel of the*Troubled Asset Relief Program, has said that the repeal of this act contributed to the*Global financial crisis of 2008–2009

    The year before the repeal,*sub-prime loans*were just five percent of all mortgage lending. *By the time the*credit crisis peaked*in 2008, they were approaching 30 percent.

    So lets see if I have this straight .. the Glass Steagall act .. .was passed and signed into law ... because of the collapse of a large portion of the American commercial banking system .

    In 1999 president Clinton signs a repeal of that law .. and 8 years later we have a collapse of our banking system. With the major problem being that banks were now doing what the the Glass Steagall act prevented them from doing. The libs response to this …. well it was Bush's fault ..

    Hey if you choose to walk around with blinders on .. thats fine by me I've understood the liberal mantra of destroy, do nothing , and blame others for a while now .. I remember NAFTA … another gem signed by the Clinton administration, that has proven (according to liberals anyway) to be great for America. I can't help to wonder when Ross Perot ran for president and told us this about NAFTA hear that sucking sound .. those are jobs leaving American ….. ah maybe he was wrong .. and that was just Bill getting his BJ in the white house .

    Thankfully the people woke up quickly when Democrats took control of the two houses … and then the white house .. and showed just how incapable they were. November 2010 brought about one of the biggest changes in history …. keep along the path we are on now .. . 2012 will be just as big .. but hey just keep your blinders on .. remember it's all Bush's fault .. and Obama is going a great job ..

    Now history aside .. . I can understand your need to keep Bush in the topic ... if My parties policies were failing as bad as yours .. I wouldn't want to talk about it either.. altho it's easier on me right now ... because I don't have a party ... until republicans prove that they have gone back to their roots . . I see them as the same spending jerks as the democrats
    By the way, can you explain specifically which portions of Glass-Steagall were removed which allowed banks to write the toxic loans which collapsed the market? (e.g., 1% ARMS and interest only loans)

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by sangha View Post
    bush* didn't create the housing bubble. The housing market was bubbling during that Clinton years. However, bush* not only did nothing to fix the problem, he threw fuel on the fire (my apologies for mixing metaphors)
    you might want to go read up on that.

    Bush tried in vain to stop fanny and freddie.
    Only to be met with "you just dont want the lower class to be able to own property"

    democrats, led by Barney frank and wind bag Kennedy are more culpable in our current financial state than anyone.
    I'M VOTING FOR THE WHITE GUY THIS TIME

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by shades View Post
    you might want to go read up on that.

    Bush tried in vain to stop fanny and freddie.
    Only to be met with "you just dont want the lower class to be able to own property"

    democrats, led by Barney frank and wind bag Kennedy are more culpable in our current financial state than anyone.
    Read this!!

    http://www.i-medonline.com/html/bush...cceptance.html
    "Thanks to our policies, home ownership in America is at an all- time high." ~ George Bush, 9.2.2004, RNC acceptance speech
    Last edited by sangha; 07-05-11 at 04:44 PM.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by shades View Post

    democrats, led by Barney frank and wind bag Kennedy are more culpable in our current financial state than anyone.
    Ummm, until 2007, they were in the minority party; can't blame them. Now while Democrats did nothing about the problem once they took control of Congress, you might want to look at Republicans (who were in charge of Congress) if you're going to blame someone for not taking action at preventing the meltdown.

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by Sheik Yerbuti View Post
    You think he's blameless?? He had nothing to do with it??
    Did I say that? No. You however, tried to say that the housing bubble was solely Bush's fault.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by Sheik Yerbuti View Post
    I don't see anyone blaming only Bush for the collapse. I've personally included Clinton in sharing the blame, as well as others. But why do you think the bill was called the Gramm-Leach-Bliley Act?
    Here is your own quote .. With the exception of overriding vetoes, nothing gets past the president without his/her approval and consent. It's the president's job to execute laws faithfully. So what does it matter what the bill is called ... Who signed it into law ???

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by The Barbarian View Post
    Here is your own quote .. With the exception of overriding vetoes, nothing gets past the president without his/her approval and consent. It's the president's job to execute laws faithfully. So what does it matter what the bill is called ... Who signed it into law ???

    It was passed with a veto-proof majority

    Gramm
    On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][15] and by the House 362-57.[16][17] The legislation was signed into law by President Clinton on November 12, 1999
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: President Obama Takes a Break at Camp David

    Quote Originally Posted by j-mac View Post

    Did I say that? No. You however, tried to say that the housing bubble was solely Bush's fault.

    j-mac
    No, I didn't solely blame Bush. That's what prompted me to ask you if you thought he was blameless. Based on what I posted, I can't even begin to guess why you thought I laid 100% of the blame on Bush. I figured you were capable of comprehending what I posted.

    Apparently, I figured wrong.

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