Wow... I guess America must have more black people than I realized! They alone have crippled the economy with their awesome borrowing tendencies!
It was done on behalf of black people, but it included
poor people, in general. No one here is blaming blacks, just Democrats.
The removal of consequences for irresponsible lending was due to deregulation of the economy, started by Republicans.
1) This parrotting of provably false liberal talking points referring to the Gramm-Leach-Bliley Act doesn't pass the laugh test. It was signed into law by a Democrat (Bill Clinton), and even the
New York Times (which hasn't endorsed a single Republican presidential candidate since Eisenhower) has
confirmed that this irrelevant piece of bundling deregulation had nothing whatsoever to do with the collapse.
The
New York Times even
warned in 1999 that Democrats would specifically destroy the economy in exactly the way it has been destroyed if they did not back off on forcing banks to make bad loans to black people.
Try again. :2wave:
Bush's policy accelerated deregulation instead of acknowledging its inevitable downfalls. Of course, Democratic Presidents have towed the status quo as well.
Total BS. :liar2
Bush majorly
ramped up oversight in 2002 and repeatedly tried to address the dangers of Fannie Mae (dozens of times over eight years), but was blocked by Democrats along party lines every time.
This is just like the left's response to California's half-baked "deregulation" expiriment with energy, where they left insane nanny state price controls in place to ensure that it would be a disaster...then, the news media relentlessly rushed in to cover it as a failure of
deregulation, rather than a failure of nanny state interference, which is what it was.
C'mon, this is basic information.
Basic partisan
misinformation, sure.
See Captain Courtesy==> You get what you give. Orius posted an actual counterpoint and he got an actual debate. When you mindlessly hurl bogus grade school taunts, you get a non-serious debate. Try to grasp it.