No, there was NO systemic discrimination in the Mortgage industry other than the discrimination thats necessary for lenders to remain in bussines.
What's your proof of Racial Discrimination ? The Boston Fed report that was ordered by Clinton that was filled with glaring mistakes ?
That didn't take into account the lenders net worth, their job history, THEIR CREDIT ???!!
Ricky Danger's ( my new nick name for Clinton ) economy was, again the result of a couple of bubbles. The Stock Bubble and the Housing Bubble.
Bush inherited the Collapse of Clintons stock bubble and the effects of Clintons Sub-Prime Housing Bubble as his Presidency wrapped up in 2008.
To you that means Bush was a horrible President. To the rest of us, who are completely capable of intelligent objective analysis it means he had to offset the failures of his predecessors trickery and incompetence.
In retrospect it would have been far easier on your average American if we hadn't elected such a low life in 1992.
Last edited by Fenton; 07-31-13 at 08:42 AM.
But C'mon, it's been 5 years. The excuses and blame are just Childish.
The least of our electorate thought it a wise decision to elect a incompetent to deal with a collapse that was so systemic and so entrenched into the markets that it had world wide implications.
And he did a disasterous job. He made it much worse.
What did you folks expect. Obama was a big part of the sub-prime bubble before he ever entered the Senate.
He used to sue banks for " discrimination " as a plaintiffs attorney in Washington.
The GOP ? No they're not perfect, but blame them for what they're repsonsible for.
I like how you left those things out and Bush IS responsible for BOTH Iraq and Afghanistan as it was HIS choice for all of them as well as the spending and government increases. He also wasted time on flag burning amendments and anti-gay marriage amendments instead of focusing on the housing market as you claim. Sorry, but you cannot ignore those factors no matter how you want to spin everything on Clinton.
Clinton, Bush 2 and Obama have been lousy presidents. At least I can admit that, you cannot fathom anything being Bush's fault.
Do some people have irrational opinions of the president? Absolutely. But it seems to me that you are implying that those irrational opinions are an underlying factor behind all Obama opposition and the GOP's noncompliance. That's where I completely disagree. Let's not pretend that Republicans are just going to jump on board when it comes to things like raising taxes, amnesty, or gun control.
I'm implying nothing. I'm stating clearly that we went to nutterville the second he liked he might win. We didn't with any other white president. Bush had to start two wars before that happened. Clinton had to actually sleep with an intern and lie. All Obama had to do was look like he might win.
AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.