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Thread: Strongest jobs recovery in decades.

  1. #101
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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Goldenboy219 View Post
    Financial deregulation was a bipartisan endeavor. No political party has clean hands regarding the current state of the economy.
    Democrat: FDR created the FHA, which engendered Fannie-Mae and Freddie-Mac. This is a direct violation of the US Constitution.

    Democrat: Carter signed the CRA that required banks to give loan preference to members of the local community, irregardless of their ability to repay.

    Democrat: Clinton signed CRA II, which allowed corrupt organizations to sue banks who were denying loans to (gasp!) people who couldn't pay them back.

    Republican: US Senate passes bill eliminating Glass-Steagall.
    Democrat: Clinton signs repeal of Glass-Steagall.

    yeah, clearly the Republicans share EQUAL blame for the mess.

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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Grant View Post
    There's more here and it all dates back to 1977 during the Carter Administration. Coincidentally, BHO has frequently been compared to Jimmy Carter in recent months.
    The Grin has been coming out ahead in the comparisons.

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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Scarecrow Akhbar View Post
    The Grin has been coming out ahead in the comparisons.
    Well yes, but I was considering more what directly led to this housing crisis and its relation to the economy.

    Yes, FDR changed the dynamics and while those programs mentioned contributed a lot to those bureaucracies which have grown out of proportion today, the deepest problem was the erosion of State Rights under his administration,

    With those rights in place there would be less likelihood of "Obamacare" etc, unless the States explicitly wanted it.

    To treat all 50 states the same with directives out of DC has eroded State Rights while created schisms in the country at the same time. Local governments now feel left out of the decision making process and resentments can only grow. This is not good for the world's leading democracy.
    Last edited by Grant; 09-05-10 at 04:18 PM.

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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Grant View Post
    Which parts are untrue, Pbrauer?
    Anybody who thinks low income people or the Community Reinvestment Act that has had world wide implications just doesn't know what they are talking about. Basically, the CRA was created to require community banks to offer lower interest rates to low income people. It didn't require the bank to make loans they thought were risky. As it turned out, loans under CRA performed better than other loans

    The financial crisis is a very complex issue that created by low interest rates causing the price of homes to soar. People used their existing home as a credit card and eliminating the phony equity they had. These mortgages were sold to Wall Street and when the bubble finally burst it had world-wide implications. As long as the lending institution didn't worry about repayment (because the paper was sold), they make more and more risky loans.


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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Scarecrow Akhbar View Post
    Democrat: FDR created the FHA, which engendered Fannie-Mae and Freddie-Mac. This is a direct violation of the US Constitution.

    Democrat: Carter signed the CRA that required banks to give loan preference to members of the local community, irregardless of their ability to repay.

    Democrat: Clinton signed CRA II, which allowed corrupt organizations to sue banks who were denying loans to (gasp!) people who couldn't pay them back.

    Republican: US Senate passes bill eliminating Glass-Steagall.
    Democrat: Clinton signs repeal of Glass-Steagall.

    yeah, clearly the Republicans share EQUAL blame for the mess.
    Bush II spent plenty of his first term pushing 'minority home ownership' - remember the "ownership society"? furthermore, the Fed under his administration (not entirely his fault here) definitely pursued a policy of making debt cheap.

    culpability is bipartisan. mind you, it's in the sense that a vote that gets 55 Democrats and 10 Republicans in the Senate is Bi-partisan; but it remains so nontheless.

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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Scarecrow Akhbar View Post
    Democrat: FDR created the FHA, which engendered Fannie-Mae and Freddie-Mac. This is a direct violation of the US Constitution.

    Democrat: Carter signed the CRA that required banks to give loan preference to members of the local community, irregardless of their ability to repay.

    Democrat: Clinton signed CRA II, which allowed corrupt organizations to sue banks who were denying loans to (gasp!) people who couldn't pay them back.

    Republican: US Senate passes bill eliminating Glass-Steagall.
    Democrat: Clinton signs repeal of Glass-Steagall.

    yeah, clearly the Republicans share EQUAL blame for the mess.
    Nice straw man, however i never made judgement calls regarding equality in blame. You may resume your internal argument....
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by cpwill View Post
    Bush II spent plenty of his first term pushing 'minority home ownership' - remember the "ownership society"? furthermore, the Fed under his administration (not entirely his fault here) definitely pursued a policy of making debt cheap.

    culpability is bipartisan. mind you, it's in the sense that a vote that gets 55 Democrats and 10 Republicans in the Senate is Bi-partisan; but it remains so nontheless.
    790 KABC: 2002 President Bush Speech Offering Road to Home Ownership


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    Re: Strongest jobs recovery in decades.

    What does any of this have to do with the thread topic other than diversion and placing blame on someone else which is all liberals do. Pbrauer, "your" President is showing exactly the person you refused to accept when you voted for him, an empty suit without any qualifications to be President. The results speak for themselves, 16 million unemployed, lower employment each month of 2010, and higher unemployment each month of 2010 but to a liberal that is the strongest jobs recovery in decades?

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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by Conservative View Post
    What does any of this have to do with the thread topic other than diversion and placing blame on someone else which is all liberals do.
    See what I highlighted.

    Pbrauer, "your" President is showing exactly the person you refused to accept when you voted for him, an empty suit without any qualifications to be President. The results speak for themselves, 16 million unemployed, lower employment each month of 2010, and higher unemployment each month of 2010 but to a liberal that is the strongest jobs recovery in decades?
    Troll


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    Re: Strongest jobs recovery in decades.

    Quote Originally Posted by pbrauer View Post
    See what I highlighted.



    Troll
    Yes, "your" President is a troll, he told you that allowing the tax cuts to expire on the rich would generate 36 billion to the Treasury and you bought it. Name one economic prediction he or his administration has made that has come true?

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