President Trump is about to fix another Obama screw up

Discussion in 'Political Opinions & Beliefs' started by logical1, May 27, 2020.

  1. dagosa

    dagosa Well-Known Member

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    All of a sudden the gop are the regulators. Nope,they didn’t start Medicare either. These are clowns who don’t believe in science. Amazing how a president can sign any executive order he wants, good till the end of his term.....but no uncle Dodd had the power of the wizard over him. You’re attempts are embarrassing. Obama cut the deficit by 60% by the time he left office....try again.
     
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  2. dagosa

    dagosa Well-Known Member

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    8 years of incompetence. The BUSH recession.
     
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  3. dagosa

    dagosa Well-Known Member

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    Yawn.....it’s embarrassing. 10 of the last 11 recession under republicans.
    upload_2020-5-29_21-38-35.jpeg
     
    Last edited: May 29, 2020
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  4. RodB

    RodB Well-Known Member Donor

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    Balderdash.
     
  5. RodB

    RodB Well-Known Member Donor

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    RodB said:
    Can you explain then how it was that Bill Clinton opened up Freddie and Fannie, incented them greatly to buy and bundle the subprime mortgages that started under Carter and grew leaps and bounds under Clinton pressure (and, BTW, are the genesis of the 2008 collapse), and put his cronies in at high salaries to run them? Can you rationalize that when Bush and McCain worked hard to regulate the derivatives market they were stopped cold by Sen. Dodd?
    Yes, I was accurate. Your summary is pretty accurate, too. A couple of replies: Glass-Steagall was problematic IMO but had little to do with the housing/mortgage crash of 2008. Lehman Brothers, Washington Mutual, IndyMac Bancorp, and Sen. Dodd's partner in crime Countrywide were not too big to fail. Probably the biggest thing affecting the 2008 collapse was the secondary market of derivatives like credit default swaps et al that were completely deregulated by Clinton and the Democrats (with much abetting from Republicans) and which greatly leveraged the investment risks of the subprime mortgage packages. Regulating the derivative market is what Bush and McCain worked hard to do in 2006 but were stopped in their tracks by Sen Dodd. The AAA ratings given to the mortgage derivatives also aided and abetted the crises.
     
  6. RodB

    RodB Well-Known Member Donor

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    There is no hope here.
     
  7. rahl

    rahl Banned

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    I just proved it to you.
     
  8. RodB

    RodB Well-Known Member Donor

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    No, you asserted. You did not prove.
     
  9. Mr.Incognito

    Mr.Incognito Well-Known Member

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  10. rahl

    rahl Banned

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    uh, I literally proved to you, with the congressional voting record, that republicans caused the 2008 recession. It's a matter of historical record, and objective fact.
     
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  11. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    Can you please link to wherever you got your information of how Clinton "opened up Freddie and Fannie, incented them greatly to buy and bundle the subprime mortgages that started under Carter and grew leaps and bounds under Clinton pressure ..."? And deregulated credit default swaps? And also, a link describing ypur claim that McCain and Bush tried to regulate it?

    Thanks.
     
  12. RodB

    RodB Well-Known Member Donor

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    No, I really can't. All of my filed info are summations compiled from many links and sources. You can google things like the Federal Housing Enterprise Regulatory Reform Act which was the Bush-McCain effort to regulate the derivative markets in 2006, and the Commodity Futures Modernization Act of 2000 which was the complete deregulation of secondary financial markets pushed heavily by Clinton and Democrats, but with considerable Republican support. Also google topics like Clinton's revision of the Community Reinvestment Act and his administration's efforts to coerce subprime lending and open up Freddie and Fannie.

    An interesting side note to the latter was that effort to push minority lending is how ACORN got its start. ACORN, with their young whippersnapper attorney, Barack Obama, was a serious ally in that push.
     
  13. dagosa

    dagosa Well-Known Member

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    There is no hope because I see through your facade. Republicans controlled Congress for six of the eight years Bush was in office. If you’re still clinging to Clintonomics as a reason for the Bush recession, how incompetent is the gop when they had the presidency and congress for six of eight years and did nothing but....... cut taxes, raise the deficit to record highs and start a war with Iraq based in lies. Not to mention forming ISIS with incompetent Iraq management.

    Where was the magic ? Was Monica still in the Oval Office ? After all, for 8 years Bush had the power of the executive order too.
    It’s as hysterical as saying Dems had anything to do with the Trump fiasco.
     
    Last edited: May 30, 2020
  14. logical1

    logical1 Well-Known Member Past Donor

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    It is now 15:28 and the rocket got off ok, and the capsule is about to dock with the space station. Yup another Obama screw up fixed.
     
  15. Lucifer

    Lucifer Well-Known Member

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    This needs to be repeated....over and over and over again!!!
     
  16. Lucifer

    Lucifer Well-Known Member

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    Then give them a hand, since you sound like you're already in orbit.
     
  17. ImNotOliver

    ImNotOliver Well-Known Member

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    This is one of the examples I use to illustrate how conservatives tend to be led by right wing rhetoric rather than through thoughtful insight.

    This one plays into a few conservative buttons. Democrats made banks give mortgage loans to minorities who could not afford them. It completely redirects while feeding underlying prejudices.

    The Bush era tax cuts and deregulation had allowed the wealthy to pull more money out of the economy, a great deal of which was then hidden away in off shore accounts. It was this action that left the credit market short, and the economy too slow to build it back up.

    The economic breakdown began when manufacturers could no longer secure adequate operating loans, causing them to layoff workers who then defaulted on their mortgages, when the shuffling deck nature of the financial industry was laid bare.
     
  18. ButterBalls

    ButterBalls Well-Known Member

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    LOL, Seem to be a play most leftist use when they are reminded of critical data they try and avoid :) But this will be our little secrete :hug:
     
    Last edited: May 30, 2020
  19. nra37922

    nra37922 Well-Known Member

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    Nothing to fix, Biden is senile.
     
  20. ImNotOliver

    ImNotOliver Well-Known Member

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    Not to complicate things here, but the housing problem began in the 90’s due to relatively low interest rates. The real estate industry had been advertising, encouraging home buyers, that with lower or variable interest rates, one could afford a more expensive home. It was a deal that way too many Americans fell for.

    The more fiscally responsible thing to do would have been to take the savings and pay down one’s loan. But most Americans had been led to believe that having loans was good for their taxes, not realizing that one typically pays more for interest than one saves on taxes.

    The net result was an upward pressure on upscale housing and a mostly abandonment of the starter home market by the construction industry, which further caused people to buy more home than they could easily afford.

    It all came to a head when manufacturers began closing down in the 2000’s. Something like 60,000 manufacturers went out of business during Bush’s presidency. many of those closing being caused by investors, tropically rich kids like Mitt Romney, buying up companies, combining their operations, and sending the manufacturing to China. The Chinese didn’t take jobs away from the US. Wealthy investors sold American jobs and technology to the Chinese. On top of that was a credit crunch that left way too many companies unable to secure adequate operations loans to stay in business.

    No work and soon mortgages began to not be being paid and the housing market fell apart.


    I think that the ignorance and greed of way too many Americans had a large role to play in the crash at the end of Bush’s presidency.
     
  21. dagosa

    dagosa Well-Known Member

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    Spin ? Bush was so incompetent in eight years with six having gop in control of both houses, he couldn’t correct anything ? In reality, he made the mess.
     
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  22. dagosa

    dagosa Well-Known Member

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    Biden is senile ? Gee, that only makes him twice as smart as Trump. Really, how can one qualify for even mature cumber intellect with the litany of deranged stances Trump takes.
     
    Last edited: May 30, 2020
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  23. ButterBalls

    ButterBalls Well-Known Member

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    Actually it was set in motion under Slick willies Presidency, you know affordable housing and the American dream that every American should have a home! Even it they couldn't make the payment LMAO ;) But I have gone over this at length with Barney Frank on video telling Americans that housing market and Fannie and Freddie were solvent and in no danger of collapse.

    Right :)
     
  24. dagosa

    dagosa Well-Known Member

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    Some how the gop had total control of the government for six years and ran up record deficits from a balanced budget. How incompetent can one party be. Obama cut deficits by 60%, only to see it all lost with Trumps first budget. It’s down hill again. The GOP’s 10 of the last 11 recessions. Trump the chaos clown . He has the backing of the white extremist and domestic terrorist groups .
     
    Last edited: May 31, 2020
  25. FreshAir

    FreshAir Well-Known Member Past Donor

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    Except it was Obama that pushed for stronger partnerships with the private sector, not Trump
     

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