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  • jr5113 jr5113 Jul 10, 2014 10:52 AM Flag

    Economic Treason: Republicans Phil and Wendy Lee Gramm, with the support of the right-wing, conservative

    "think" tanks in Washington, were directly responsible for the 2008 economic collapse from which this administration is extricating us. The tireless efforts to deregulate the securities industry, particularly collateralized mortgage obligations and other derivatives, caused the 2008 collapse. We are all paying for conservative right-wing greed. Screwing one's country runs in the conservative family.

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    • It was liberal/socialist democrats who caused the financial crisis and what jr terms economic collapse in 2008. In Jan 2007 the socialist/democrats got control of both houses of Congress. Frank in the House and Dodd in the Senate controlled the committees that oversaw financial institutions. At that time unemployment was low,the economy was growing nicely, and the stock market was going up.These socialist/democrats insisted on continuing to force banks to make bad loans and allowed the heads of Fannie and Freddie to receive huge bonuses, in the many millions, although those democrats cooked the books of their organizations to get those bonuses. Forcing the banks to make bad loans led to the crisis, since Wall Street packaged those bad loans and sold them , thus defrauding the world. The Congress was warned a number of times by Bush to reign in these bad loans policies but to no avail. The leftists have no real policy except to take from earners to give to non earners so they apply a steady pressure to expand the power and take of the govt so as to buy votes for themselves. But socialism cannot produce nearly so well as freedom ( capitalism) and so ultimately more and more of the people experience the scarcity and poverty that socialism brings. Obama's war on the middle class is showing that now, as we can see with out 12%true unemployment rate and our record number on food stamps. I saw recently that for every job the Obama gang has "created" 75 new people have gone on food stamps.

    • It was the Commodity Futures Modernization Act of 2000 with the "Enron Loophole" that set up the 2008 collapse. It is a coincidence, I'm sure, that Wendy Lee Gramm was on Enron's board at the time.

    • Glass Steagle repealed in 1998, that's what set everything in motion. And who was President then?

    • One of the few people that saw the collapse coming, correctly cited the cause, and was fired for it was Brooksley Born, a democrat.