Who's fault is it again?
 

George Bush has been in office for 7 1/2 years. The first six the economy was fine.

A little over one year ago: 1) Consumer confidence stood at a 2 1/2 year high
2) Regular gasoline sold for $2.19 a gallon
3) the unemployment rate was 4.5%. 4) the DOW JONES hit a record high--14,000 American's were buying new cars, taking cruises, vacations overseas, living large!...

But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic Congress and yes--we got 'CHANGE' all right.
..
In the PAST YEAR:

1) Consumer confidence has plummeted
2) Gasoline is now over $4 a gallon & climbing!
3) Unemployment is up to 5.5% (a 10% increase)
4) Americans have seen their home equity drop by $12 TRILLION DOLLARS and prices still dropping
5) 1% of American homes are in foreclosure
6) as I write, THE DOW is probing another low

$2.5 TRILLION DOLLARS HAS EVAPORATED FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!

YES, IN 2006 AMERICA VOTED FOR CHANGE...AND WE SURE GOT IT! ....

REMEMBER THE PRESIDENT HAS NO CONTROL OVER ANY OF THESE ISSUES, ONLY CONGRESS.

AND WHAT HAS CONGRESS DONE IN THE LAST TWO YEARS, ABSOLUTELY NOTHING!!

NOW THE DEMOCRATIC CANDIDATE FOR PRESIDENT CLAIMS HE IS
GOING TO REALLY GIVE US CHANGE ALONG WITH A DEMOCRATIC CONGRESS!!!!

JUST HOW MUCH MORE 'CHANGE' DO YOU THINK YOU CAN STAND?

Re: Who's fault is it again?
 

yes but the democrats want to protect all those poor victems of mortgage default!

Re: Who's fault is it again?
 

This is good info but remember the Dems can not pass everything without a 2/3 or great percentage of "yea's"

Re: Who's fault is it again?
 

This is still Clinton leftovers ppl.

When Clinton created his "surplus budget" it was on paper , not real or current. If we stayed on his budget then after 8 to 10 years we would have a 10 trillion dollar surplus. It was then the economy started booming , ppl started buying , etc etc. But they were doing it based on what Clinton said was coming, not what ppl actually had in their pockets.

Well Clinton didnt budget in a terrorist attacK and the dot com bubble busting. The first part of your post is wrong, the market and economy numbers started going down in late 2000. We were heading down hill when Busch let go the first barrage of refunds and tax cuts. And it turned around what Clinton had messed up, but Afganastan and Iraq have taken a financial toll... A toll I have no problem paying for. But all of the purchased made during the Clinton years of promised surplus were made on credit , credit given based on numbers that never materialized.

Now we are paying for it.

Re: Who's fault is it again?
 

I think the dems would be protected had they offered a single bill for consideration that would have dealt with this mess.

they didnt. in fact, there has been NO congress in 50 years that has done less than the 110th. It has been a disgrace.

The only thing the democrats (read barak obama) has done is point to Phil Graham and say he wrote a bad deregulation bill that caused this.

A closer look at that bill reviels that 90 Senators voted for it (including Joe Biden) and the president (Bill Clinton) signed it. and the Tresury Secretary (Robert Rubin, democrat) said it was VERY NEEDED....

All that bill did was allow investment banks and regular banks to diversify into areas they had not been able to do before. That bill is what has kept the likes of Bank of America strong. Had Leahman Brothers done what BOA did, it would not have failed.

Re: Who's fault is it again?
 

i think the honest among us know whose problem this mortgage crisis is, start with chris dodd and the rest of the dem leaders that protected fannie and freddie from scrutiny unitll now, that will keep you busy for a while, dt

Re: Who's fault is it again?
 

and Barny Frank. what a kook.

Re: Who's fault is it again?
 

There is no way to say that with any fair amount of conviction other than your thoughts. LB had other issues too not just this.

Re: Who's fault is it again?
 

The point JT, is that Leahman didnt diversify. they stuck with being an investment bank and didnt take advantage of the law that would have allowed them to move into regular banking areas.

BOA did. they moved to diversify and they are strong today. You can say that because that is exactly what happened with each.

Leahmans problems are directly related to mortgage backed securities and being over leveraged based on these securities having such little value.

Re: Who's fault is it again?
 

All of America's leaders are buffoons. I don't care what party they say they're a part of. They're all brainless.