I think in years to come, Clinton will be judged more harshly than Bush.

For what I, Hearsay, ruler of all that I survey and Defender of the Riff, believe makes a "good" President, my answer is that neither of them have been particularly "good."

 

 

With all do respect, I will have to strongly disagree. However, I do agree with you on a lot of other things. :thumb:

I'm not trying to fart on anyone's birthday candles, I'm just reporting that this was predicted when it happened back in 1999.

 

As for GWB stopping it, could you hear the howls and lawsuits that would have accrued if he'd have said, "We're making artificially inflated loans to uncreditworthy people. Mostly blacks and Mexicans. We need to stop doing that."

 

:thumb:

 

Obviously this is a significant part of the problem but there is so much more there. Plenty of blame for everyone involved.

Lol.

 

George W. took office 8 years ago and couldn't do anything about it until now? Are you kidding me? We're blaming Clinton?

 

What has W. been doing? He's just as much to blame for not doing anything about it the last 8 years.

 

There is plenty of blame to go around.

 

1. The greedy unethical lenders who took too much risk by loaning money to those who could not afford it and not standing up to ....

2. Congressional 'leaders' like Barney Frank who pushed these lenders into making these loans as a form of 'social charity'

3. Clinton and Bush (more on Bush than Clinton IMHO) as neither one did anything about it

4. The democrats and republicans for playing politics on this issue for years with the dems voting down a bill supported by McCain to help fix this in 2005 and the reps for doing the same within the past 2 years

I'm not trying to fart on anyone's birthday candles, I'm just reporting that this was predicted when it happened back in 1999.

 

As for GWB stopping it, could you hear the howls and lawsuits that would have accrued if he'd have said, "We're making artificially inflated loans to uncreditworthy people. Mostly blacks and Mexicans. We need to stop doing that."

 

You know Hearsay, I could have gone a long time this morning without that imagery. :lol:

What concerns me more than who's to blame in the past is that the partisan bickering continues in the present, even in the face of this challenge.

What concerns me more than who's to blame in the past is that the partisan bickering continues in the present, even in the face of this challenge.

 

AMEN

I'm grumpy and needed someone to blame. NYT found this little gem from 1999:

 

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1

Great find. It was wierd reading some of the statements considering this was 9 years ago.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

If they saw this coming why did they continue to push it? I got news for you folks, home ownership isn't a right it's a reward for working hard and doing it the right way. The more I think about this mess the more I think we should let all of these idiots sink, and that includes the morons that bought a $400,000 house making $10 an hour.

USC lost, I'm grumpy, I don't have a dog to kick, so why not blame Bill Clinton. It always makes me feel better.

 

I'm going to have to reevaluate my opinion of you! :eek: I really liked you, too! :cry:

Franklin D Raines is Obama's top economic advisor.

 

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

I'm going to have to reevaluate my opinion of you! :eek: I really liked you, too! :cry:

 

Figure of speech. I am a dog lover through and through. Now, cats . . . .

Figure of speech. I am a dog lover through and through. Now, cats . . . .

 

 

Alright...I can get behind that. I wouldn't kick a cat, but I sure wouldn't invite one into my home.

Alright...I can get behind that. I wouldn't kick a cat, but I sure wouldn't invite one into my home.

Wasn't your avatar known for eating cats?

There is plenty of blame to go around.

 

1. The greedy unethical lenders who took too much risk by loaning money to those who could not afford it and not standing up to ....

2. Congressional 'leaders' like Barney Frank who pushed these lenders into making these loans as a form of 'social charity'

3. Clinton and Bush (more on Bush than Clinton IMHO) as neither one did anything about it

4. The democrats and republicans for playing politics on this issue for years with the dems voting down a bill supported by McCain to help fix this in 2005 and the reps for doing the same within the past 2 years

 

I largely agree with these but you forgot to list the people who agreed to pay back their loans but are now in default.

There is plenty of blame to go around.

 

1. The greedy unethical lenders who took too much risk by loaning money to those who could not afford it and not standing up to ....

2. Congressional 'leaders' like Barney Frank who pushed these lenders into making these loans as a form of 'social charity'

3. Clinton and Bush (more on Bush than Clinton IMHO) as neither one did anything about it

4. The democrats and republicans for playing politics on this issue for years with the dems voting down a bill supported by McCain to help fix this in 2005 and the reps for doing the same within the past 2 years

Go to the American Bailout Plan thread and read the article I posted. Then see if you still think this is more on Bush. Clinton pushed it and Bush tried to do something to fix only to be stopped by the genius Barney Frank.

If they saw this coming why did they continue to push it? I got news for you folks, home ownership isn't a right it's a reward for working hard and doing it the right way. The more I think about this mess the more I think we should let all of these idiots sink, and that includes the morons that bought a $400,000 house making $10 an hour.

 

I could not agree more woodsrider.

 

I said something similar in an economics class and a few people were shocked at the idea of letting someone lose their home. Those people bit off more than they could chew and that's what they deserve.

 

It seems sometimes as if this country helps the lazy, irresponsible and just plain ignorant people while ignoring the hard working, responsible citizens. That bothers me.