Who is to blame for this mess?

Discussion in 'Politics' started by Ps104_33, Sep 25, 2008.

  1. Ps104_33

    Ps104_33
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    We all are.

    "We created the cultural climate for this shared madness. Television shows advised how to “flip” a house after putting in cosmetic improvements. Real-estate seminars and popular videos convinced us that homes were not places to live and raise a family but rather no different from piles of chips on a Vegas table.

    We created the phony populist creed that everyone deserved to own a house. So lawmakers got the message to relax lending standards in service to “fairness.” But Americans forgot that historically nearly four in ten of us aren’t ever ready, or able, to sacrifice for a down payment, monthly mortgage bills, home maintenance, and yearly taxes — and so should stick to renting."


    "Who re-elected these shady politicians of both parties? Who fostered the cash-in culture in which both Wall Street profit mongering and Washington lobbying are nourished and thrive? We citizens did — red-state conservatives and blue-state liberals, Republicans and Democrats, alike. We may be victims of Wall Street greed — but not quite innocent victims."

    http://article.nationalreview.com/?q=NjkxZDJjMTViZDQ4NzhkMTRmNGRlZGNmZjgzMzhkZGU=


     
  2. Crabtownboy

    Crabtownboy
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    Lots of blame for many to share. But I believe Reagan began the going down the slippery slope to where we are today. But this is not the time to play politics and the blame game, except at the polls, this is the time for something to be done that begins getting us ban on the right track to prosperity for all.

    http://74.125.45.104/search?q=cache...1+regan+deregulation&hl=en&ct=clnk&cd=3&gl=us
     
  3. Major B

    Major B
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    The Blame Game

    1. Social engineers, who were willing to do anything to increase minority home ownership, including encouraging or forcing banks to loan money to people who had poor credit histories, etc.

    2. People bought three times the house they need, just because they "qualified" for it. Our remodeled Cape has room for the grandkids to visit, but not for the 101st Airborne to visit, and you could not hold NBA games int the living room.

    3. People who thought that the boat, the brand new Expedition, the huge flatscreen TV, and the BMW came with the house at no extra charge.

    4. People who thought that as long as they had approved credit, they could charge up to the limit, then make monthly payments with "convenience checks."

    5. Brokers and banks who thought that even shaky mortgages were secure, and floted the Mortgage Backed Security as a way to create fake money. Point--If your MBS has my house on it, you are OK, unless there are other assets that are not performing well.

    6. Wall Street firms borrowing operating capital on a basis $40 in loans for each dollar of cash.

    7. Democratic Senators (and a few Republicans) who had influenced the minority buying craze and blocked the 2005 reform act efforts.
     
  4. Crabtownboy

    Crabtownboy
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    All of these cirticisms, and I agree with the, became possible through deregulation.
     
  5. Bro. Curtis

    Bro. Curtis
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    They refused regulation. That's another fact you have to ignore, but it is still a fact.
     
  6. Revmitchell

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    Actually it started with Carter and Clinton played the biggest role in it:

    http://www.dissentmagazine.org/article/?article=1229
     
  7. Agnus_Dei

    Agnus_Dei
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    When the Constitution took a backseat to policy making…What’s wrong with Article 1 Section 10, which states that…”No State shall…emit bills of credit, make anything but GOLD and SILVER coin to tender in payment of debt.”

    Who’s bright idea was it to eliminate the Gold and Silver standard of our currency. Why do we even need a Federal Reserve, when the Constitution in Article 1 Section 8, plainly states…”The Congress shall have the power to…Coin Money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures…”?

    A 1944 quarter made up of 90% silver and 10% copper is valued today at almost $2.50 (but I can't even buy a piece of gum with it)

    Sure, the last few administrations made our bed, but we need to seek the root of the problem and where it began and we the people need to take back what’s ours. This Country’s founding fathers weren’t stupid when they penned the Constitution. What worked in the 1800’s and early 1900’s can work today.

    In XC
    -
     
  8. rbell

    rbell
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    I disagree...but is it our job to make "prosperity for all" happen? If I want to prosper...it's my job to make it happen...not "the people's" or Washington's.

    Where in the Constitution did it become government's job to protect people from making stupid decisions?
     
  9. Revmitchell

    Revmitchell
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    Deregulation is the liberal lie.
     
  10. ray Marshall

    ray Marshall
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    Hay, I am in agreement with most of what you have said. President Woodrow Wilson was the culprit who sold us out to the international bankers. He sigh the bill that gave Paul Warburg, a foreign agent the set up a group of rich and greedy men the right to operate here in the United States by setting up Federal Banks of which I think if I remember right a total of 13 banks and also gave the Federal Reserve (which is not Federal at all) the right to make loans to us, with them getting a big return on their loans( In the Bible it is called "USURY" by us paying them a good percent and they waxed rich by making their money with our gold. President Franklin Roosenvelt working with them called in our gold and guess who got the gold?? Then next in around 1964-67 started coining money with little silver content. Now the silver is gone and in payment, they aim to take our property in payment. The Federal Reserve was set up to bankrupt America and it is being successful. We will eventually go bankrupt and our leaders will announce it. We haven't caused our demise, but rather they are closing banks here and there. We have been swindeled by our own government by causing us the poor working stiff to foot the Federal Reserve debt which we did nothing to cause this calamity.
     
  11. billwald

    billwald
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    The cause is our sin nature and the refusal to deal with it. Has any reformer said, "We need a government designed for greedy liars?"
     
  12. poncho

    poncho
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