View Poll Results: Which party is more responsible for the state of the economy?

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  • The Republican Party

    41 62.12%
  • The Democratic Party

    25 37.88%
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Thread: Which party is more responsible for the state economy?

  1. #41
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    Re: Which party is more responsible for the state economy?

    Michael Bloomberg:

    ...Bloomberg was asked what he thought of the Occupy Wall Street protesters.

    "I hear your complaints," Bloomberg said. "Some of them are totally unfounded. It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp. Now, I'm not saying I'm sure that was terrible policy, because a lot of those people who got homes still have them and they wouldn't have gotten them without that.

    "But they were the ones who pushed Fannie and Freddie to make a bunch of loans that were imprudent, if you will. They were the ones that pushed the banks to loan to everybody. And now we want to go vilify the banks because it's one target, it's easy to blame them and congress certainly isn't going to blame themselves. At the same time, Congress is trying to pressure banks to loosen their lending standards to make more loans. This is exactly the same speech they criticized them for."...

  2. #42
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by cpwill View Post
    Not for nothing CPwill...I wouldnt take bloombergs word for nothing..hes a chameleon and a fraud. Democrat, republican, independent...he has no soul he only has his personal wants.

  3. #43
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by lpast View Post
    Not for nothing CPwill...I wouldnt take bloombergs word for nothing..hes a chameleon and a fraud. Democrat, republican, independent...he has no soul he only has his personal wants.
    And he should be doing federal time for conspiring to violate federal and state gun laws



  4. #44
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    Re: Which party is more responsible for the state economy?

    I would say Republican.

    The government policies that allowed the banks to take on excessive leverage were most predominately pushed by Republican party members
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  5. #45
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Lord Tammerlain View Post
    I would say Republican.

    The government policies that allowed the banks to take on excessive leverage were most predominately pushed by Republican party members
    The New Deal set the stage for all this nonsense



  6. #46
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    Re: Which party is more responsible for the state economy?

    Comeon..until we stop all this nothing is going to change....WE ALL KNOW its both parties that did this...and they will both continue to do this...everything they say is bs to con us and pacify us...Lobbiests and the rich rule this country...the congress democrats and republicans are for the most part rich..who pays the most gets what they want...and until the mass' acknowledge their side is no better than the other...nothing is going to change...they will only change if we collectively make them.

  7. #47
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Lord Tammerlain View Post
    I would say Republican.

    The government policies that allowed the banks to take on excessive leverage were most predominately pushed by Republican party members


    What They Said about Fan and Fred

    ...Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .

    Rep. Frank: Let me ask [George] Gould and [Franklin] Raines on behalf of Freddie Mac and Fannie Mae, do you feel that over the past years you have been substantially under-regulated?

    Mr. Raines?

    Mr. Raines: No, sir.

    Mr. Frank: Mr. Gould?

    Mr. Gould: No, sir. . . .

    Mr. Frank: OK. Then I am not entirely sure why we are here. . . .

    Rep. Frank: I believe there has been more alarm raised about potential unsafety and unsoundness than, in fact, exists....
    Last edited by cpwill; 11-03-11 at 01:21 AM.

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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by SheWolf View Post
    There is no option for Both Parties, because the question is which party is more responsible for the state of the economy?
    Decades of Republocrat rule led us to this place.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  9. #49
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Councilman View Post
    The question cannot be answered only figuring what you think you know today.

    The housing problems date back to 1977 when the Senate had 61 Democrats and the house had 292 Democrats.

    Carter was in the white house and this year 1977, they passed The Community Reinvestment Act which lead to the housing melt down we are still in today.

    The reason we are not in recovery in any portion of the economy is Obama knows as much about the economy as about Theoretical Physics, and that is a big ZERO.

    His waste it unsurpassed in world history and is equal only to his failed plans and projects.
    Are you serious? I thought you were a serious poster, but, come on.... do you actually believe some benign piece of legislation passed in the 1970's created a crisis 30 years later?
    At first blush your assertion is almost idiotic. You owe us all an explanation of how this led to the housing bubble.

    I really doubt you understand the purpose, intent and reason for the CRA. It was about bank redlining, taking money FROM a neighborhood, but not, under any circumstance, putting that money back into the neighborhood. This bank practice promoted urban blight in the 1970's, which was a very serious problem. How did this lay low for 3 decades and then suddenly cause a problem. Sorry, but this was something created by Fox News designed to sound good to the intellectually lazy. You are better than that.

    The problem was a supply side problem of incredible amount of money being made available for mortgages. The I-Banks and hedge fund managers created sophisticated financial instruments that pooled high grade mortgages with sub-primes and wrapped with private insurance guarantees. There was so much money available for this product, sub-prime mortgage companies with boiler room outbound sales operations sprung up all over the country to FIND customers willing to re-fi, take 2nd and 3rd mortgages or speculate on real estate. The I-banks PUSHED the product out... paying substantial commissions to the retail operations (10-15% of mortgage value.) I am happy to go into great detail about this as I witnessed it first hand.

    Sorry, but this was a problem of greed, unregulated banking and too much money chasing too few of good deals.
    Last edited by upsideguy; 11-03-11 at 01:19 AM.

  10. #50
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by TurtleDude View Post
    The New Deal set the stage for all this nonsense

    Really the new deal is responsible for excess bank leverage?

    Countries like Canada have higher tax rates and higher social spending yet did not have the banking system collapse of the US
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

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