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Thread: Clinton says he could have prevented economic collapse

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    Clinton says he could have prevented economic collapse

    Here's a softball for you Bushlovers. In an interview with NBC, Bill Clinton was asked about the economy:

    "Asked his perspective on how the country fell into such economic hard times, Clinton responded in an NBC "Today" show interview by asking rhetorically: "Did any of them seriously believe that if I had been president and my economic team had been in place the last eight years, that this would be taking place?"
    President Clinton: Obama off to good start - White House- msnbc.com

    Here's your chance to tell each other how deluded the Big Dog is. Of course, he's right.

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    Re: Clinton says he could have prevented economic collapse

    How well did Citibank do under Robert Rubin, Clinton's miracle boy treasury secretary?

    (I ask this, of course, knowing full well that you don't know.)
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Clinton says he could have prevented economic collapse

    By the way, perhaps you should read this fully, an article from 1999 -- before Bush -- about the Clinton banking deregulation and what it could lead to. It's posted on the website of those renowned Bush lovers, the World Socialists.

    Clinton, Republicans agree to deregulation of US financial system

    Some of this should sound shockingly familiar.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Clinton says he could have prevented economic collapse

    Clinton opened the door to allow those on small incomes the ability to purchase their own property.
    Naturally these folk saw this as an opportunity and grasped it with alacrity.
    Not realizing what a Low starter Mortgage actually meant.
    To facilitate these cheap rate Mortgages, Clinton started the printing presses rolling.
    Did he know what he was doing?-----------Oh yes.

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    Re: Clinton says he could have prevented economic collapse

    Quote Originally Posted by WillRockwell View Post
    Here's a softball for you Bushlovers. In an interview with NBC, Bill Clinton was asked about the economy:


    President Clinton: Obama off to good start - White House- msnbc.com

    Here's your chance to tell each other how deluded the Big Dog is. Of course, he's right.
    Sometimes I watch college basketball and swear up and down that I could have made "that" three pointer.
    However, as much as I swear I can do something it does not really mean anything.

    Mr. Clinton is flapping his gum.
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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    Re: Clinton says he could have prevented economic collapse

    Of course, the OP said "he's right" and then just took off without explaining what he'd have done differently.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Clinton says he could have prevented economic collapse

    Can we really destroy the economy by trying to help a small percentage of minorities get home loans over 10 years?

    Just sounds fishy to me.

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    Re: Clinton says he could have prevented economic collapse

    Quote Originally Posted by sazerac View Post
    Can we really destroy the economy by trying to help a small percentage of minorities get home loans over 10 years?

    Just sounds fishy to me.
    How does that fit in here?
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Clinton says he could have prevented economic collapse

    Quote Originally Posted by Harshaw View Post
    How does that fit in here?
    The Glass-Seigel act that you mentioned and Clinton's "American Dream" program. Also Bush's "Zero Down" program. Isn't this what is being blamed for a lot of the crisis?

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    Re: Clinton says he could have prevented economic collapse

    Quote Originally Posted by sazerac View Post
    Can we really destroy the economy by trying to help a small percentage of minorities get home loans over 10 years?

    Just sounds fishy to me.
    Sure you can. The financial system is like an organic entity. When you introduce bubonic plague into a cut in your finger, the damage doesn't just stay in your finger but quickly spreads throughout the entire organism.

    When government mandates the minorities with poor credit be given more favorable loan terms then it becomes DISCRIMINATORY for lenders to apply more stringent terms to non-minorities. This relaxation in lending standards, designed to boost minority home ownership levels, produces more speculation and a lowering of purchaser standards in the home market. The ripple effects spread far and wide through an integrated economy and a worldwide financial market.

    Purposely infecting the financial system with a political goal is not a wise thing to do.

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