Deregulation is What Caused AIG

Exactly! However, the truth is not the object nor does it matter to Obama or Democratic supporters. The Congress under Democratic control forced banks to lend on millions of bad or high risk loans and then when they failed blamed the banks and Republicans! While the strong and intimate Democratic ties with Fannie and Freddie were ignored or downplayed. http://www.businessandmedia.org/articles/2008/20080924145932.aspx


This is a reoccurring tactic but unfortunately most the Republicans are inept or indifferent in getting the truth out. Why just before the fall Barney Franks and other top Democratic leaders were ridiculing and fighting reform attempts by Republicans who were pointing out the housing troubles and issues with Freddie and Fannie. But again, let's not let the truth get in the way of our smiley new government.

In regards to AIG. Again, lets only focus on all their executive bonuses, legally entered btw, as Obama and the Dems wish. It is simply class warfare and nothing new as Dems cannot win without such. All this attention over AIG bonuses while initially attempting to let bonuses at Fannie and Freddie slip under the radar. http://news.yahoo.com/s/ap/20090320/ap_on_bi_ge/mortgage_giants_bonuses

What do you know! Only when this stuff comes forward they all act so suprised. Many stupid people will buy that ploy though.

Now we are truly entering into a Socialist or Communist state with Obama and his appointees taking over private enterprise or vowing to do so. The Constitution is being interpreted just as Obama said it should be, which is however they deem it needs to be.

Take care

 

Never mind that, we can't blame this on Obama, so it doesn't matter.

 

No we can't and the truth is that both Republicans and Democrats are to blame.

But what we can blame Obama for is continuing to pump money into and prop up a failed system.

We already have a program for failed companies and individuals who are over their heads in debt. It is called BANKRUPTCY and it works. No one goes to jail, bad debt goes away, and everyone gets a fresh start.

Of course you loose that house you cannot afford.

 

One extreme (sometimes done here) is to blame Obama (and/or the democrats) for everything. Others blame the Republicans (or Bush) for everything.

Both extremes are incorrect.

 

I agree on both points!

 

And of course...for agreeing with me, it brings me to say:

And then there are brilliant points...points that go beyond smart. Smart so smart that it goes beyond the smart we know, into a different dimension of smart. Trans-smart. Meta-smart. Smartness pressured in upon itself to the point of neutron collapse. Singularly smart. Blazing-hot midday sun on Mercury smart. Emitting more smartness in one second than most galaxies emit in a year. Quasar smart. This may be some fragment of smartness from the original bag of smart. Pure essence of smartness so uncontaminated by anything else as to be beyond the laws of physics that we know.

That's how smart it is to agree with Rbell...:applause:

 

But how often are you right?

 

Al Gore "invented" Global Warming-------so that CAN'T be faulted!!!

My "F" was in Algebra----not Geometry

Clinton never did anything wrong---"I do NOT KNOW that woman!!!":laugh::laugh:Yea, right!!!! Tell me another funny, Bill!!!!!

You'd kiss Janet----in spite of that moustach, and you know it, rbell!!!:laugh:

 

Yes this is true for the most part and I do apologize for the confusion. My point was however made though I would like to point out a few things in regards to you comments.

Fannie Mae was established under FDR as part of the New Deal. The New Deal lead to the creation of many welfare programs and abuses as we are still burdened with today. Such issues have long been used by the Democratic Party for class and racial divisiveness as no better example than the Obama Administration. They have to use racial and class warfare otherwise the Party would have become obsolete long ago. In 1968 Fannie Mae was then chartered under the Democrat controlled Congress along with the creation of Freddie Mac a few years later.

This is somewhat irrelevant in regards to how the present Democrats have abused their powers in regards to these organizations, which has lead to the economic situation we are in now. They and their supporters are so intellectually dishonest they often attempt to give blame to Bush.

Just as an extra tidbit, since 1945 the Democrats have had majority control of the Congress upwards to 75% of the time (47 times for Democrats., 17 times for Republicans.) http://uspolitics.about.com/od/usgovernment/l/bl_party_division_2.htm Until the election of Ronald Reagan and from the 1950's they never had control of either branch of Congress. Yes the Republicans had the majority for the most part under Clinton and for a period under Bush but all attempts to reform GSE’s as Fannie or Freddie were blocked by the Democrats.

Because the Democrats united to block all efforts at reform! This is also the case with any Abortion issue no matter how logical, good or popular the legislation may be. Congressional records easily show this. Only Obama carries it further in regards to abortion by supporting the murder of even born children. I recall you do not see the unborn as being a living person but you surely see the evil in that? All other Representatives’ did but not Obama.

To point however. The Democrats blocked the Bush administration throughout his tenure in reforming GSE’s as Freddie and Fannie. This would include 17 times in 2008 alone. http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-fannie-mae.html

Barney Frank, Maxine Waters and other ranking Democrats insisted there were no problems at Freddie or Fannie and to regulate them would have been devastating. Maxine Waters, "we do not have a crisis at Freddie Mac, and in particular at Fannie Mae, under the outstanding leadership of Mr. Frank Raines…”. Barney Frank, ““I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They're not the best investments these days from the long- term standpoint going back. I think they are in good shape going forward...I do think their prospects going forward are very solid”. http://www.usnews.com/blogs/barone/2008/10/6/democrats-were-wrong-on-fannie-mae-and-freddie-mac.html


It should be noted Barney Frank had a long time homosexual affair with a ranking Fannie Mae executive! Again and in addition, Obama and other Democrats initially tried to divert attention from the fact Fannie and Freddie executives were going to get their bonuses until a swell began over it.

http://www.businessandmedia.org/printer/2008/20080924145932.aspx

Barney Frank is as big a liar as Obama. Watch any interview in regards to the Fannie/Freddie situation. It should also be noted Obama sued Citigroup through Acorn forcing them to make bad loans. At other times picketing banks was done under a racial banner in forcing banks to make these sub prime loans.

http://iusbvision.wordpress.com/200...bank-under-cra-to-force-it-to-make-bad-loans/

You can choose any forum in getting the above information if you do not like the ones I posted. This is not to say the Republicans do not deserve some of the blame, as surely many are impotent, but let’s do keep it in perspective with the shiny new Obama administration.

take care

 

Where do I go to report a BB mod for being gross to the point of criminal?