FACT: Regulatory changes under Clinton caused the crisis
02-16-2009, 02:08 PM
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FACT: Regulatory changes under Clinton caused the crisis
In your mouth bush-haters:
http://news.yahoo.com/s/time/2009021...08599187977400
From Times 25 guilty people:
"President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods. It is the subject of heated political and scholarly debate whether any of these moves are to blame for our troubles, but they certainly played a role in creating a permissive lending environment."
Uhhhh yeah, I think that may have had a little to do with it
Even better, you get to blame the democrats in congress too:
"Bush did push early on for tighter controls over Fannie Mae and Freddie Mac, but he failed to move Congress." How do you move an insane liberal?
http://news.yahoo.com/s/time/2009021...08599187977400
From Times 25 guilty people:
"President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods. It is the subject of heated political and scholarly debate whether any of these moves are to blame for our troubles, but they certainly played a role in creating a permissive lending environment."
Uhhhh yeah, I think that may have had a little to do with it
Even better, you get to blame the democrats in congress too:
"Bush did push early on for tighter controls over Fannie Mae and Freddie Mac, but he failed to move Congress." How do you move an insane liberal?
Last edited by HellaDumb; 02-16-2009 at 02:13 PM.
02-16-2009, 03:20 PM
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Welcome to last year's topics. Typical cop-out on Democrats and an old debate.
Unregulated financial institutions giving out loans to people with no money are the source. Clinton didn't give out any home loans and didn't force anyone else to either.
It was our precious "free market" making bad decisions based on greed that got us into this mess. I guess you could also blame the new home owners that were too stupid to realize that they couldn't afford the house they just bought.
But by all means, keep thinking the democrats did it. That's how we progress, blame the dems for everything. I heard they invented cancer too.
When you keep blaming the same group for every problem in the country, all you learn from it is how to get better at blaming that group.
I don't think Hitler questioned himself either when he blamed the Jews for everything. Who needs to be rational when you have a scape goat to fall back on.
Unregulated financial institutions giving out loans to people with no money are the source. Clinton didn't give out any home loans and didn't force anyone else to either.
It was our precious "free market" making bad decisions based on greed that got us into this mess. I guess you could also blame the new home owners that were too stupid to realize that they couldn't afford the house they just bought.
But by all means, keep thinking the democrats did it. That's how we progress, blame the dems for everything. I heard they invented cancer too.
When you keep blaming the same group for every problem in the country, all you learn from it is how to get better at blaming that group.
I don't think Hitler questioned himself either when he blamed the Jews for everything. Who needs to be rational when you have a scape goat to fall back on.
02-16-2009, 03:30 PM
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I love how your title says Clinton caused the crisis, but the paragraph you quoted says it only "played a role."
Reading comprehension > you
I also one again like to, as I have done so in the past, applaud you for your choice of username.
Reading comprehension > you
I also one again like to, as I have done so in the past, applaud you for your choice of username.
Last edited by VRT MBasile; 02-16-2009 at 03:32 PM.
02-16-2009, 04:11 PM
#5
Welcome to last year's topics. Typical cop-out on Democrats and an old debate.
Unregulated financial institutions giving out loans to people with no money are the source. Clinton didn't give out any home loans and didn't force anyone else to either.
It was our precious "free market" making bad decisions based on greed that got us into this mess. I guess you could also blame the new home owners that were too stupid to realize that they couldn't afford the house they just bought.
But by all means, keep thinking the democrats did it. That's how we progress, blame the dems for everything. I heard they invented cancer too.
When you keep blaming the same group for every problem in the country, all you learn from it is how to get better at blaming that group.
I don't think Hitler questioned himself either when he blamed the Jews for everything. Who needs to be rational when you have a scape goat to fall back on.
Unregulated financial institutions giving out loans to people with no money are the source. Clinton didn't give out any home loans and didn't force anyone else to either.
It was our precious "free market" making bad decisions based on greed that got us into this mess. I guess you could also blame the new home owners that were too stupid to realize that they couldn't afford the house they just bought.
But by all means, keep thinking the democrats did it. That's how we progress, blame the dems for everything. I heard they invented cancer too.
When you keep blaming the same group for every problem in the country, all you learn from it is how to get better at blaming that group.
I don't think Hitler questioned himself either when he blamed the Jews for everything. Who needs to be rational when you have a scape goat to fall back on.
yes teh home owners were idiots
but who dangled teh carrot infront of thier face?
02-16-2009, 05:49 PM
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You understand the difference between verbiage and reality, right?
02-16-2009, 05:57 PM
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Which civil liberty in particular bothers you? You might want to look into what Obama and the Democrats are doing to squelch free speech before you spout off like that.
02-16-2009, 05:58 PM
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I understand people with certain political views twisting what they read to fit what they want to say. Typically they don't directly supply the information they've twisted directly to their audience.
02-16-2009, 07:10 PM
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What did anything I said have to do with blaming GWB? Or for that matter, Obama is now the topic?
If I wrote it in SIZE="7" would it make more sense?
02-17-2009, 08:43 AM
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But back to the point, if you agree that Clinton's rewriting of the Community Reinvestment Act put pressure on banks to lend in low-income neighborhoods, and you understand that lending to borrowers with little ability to pay fueled this crisis, then you must acknowledge that Clinton's acts have a causal relationship to the outcome.
Thanks for playing.
Thanks for playing.