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Microsoft Corporation Message Board

  • hawcreek12 hawcreek12 Feb 2, 2013 11:57 AM Flag

    Hawcraper just can't accept reality, so he lies even to himself

     

    Blaming why something happened on when something manifested itself is not a good place for an Obama moe-ron to hang their hat.

    Fact is Bush did not sign the law that caused the meltdown, Clinton did.

    Fact is Bush tried to reign in the irresponsibility and the far left told him there was no problem with Freddie and Fannie.

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    • Bush could have fought the left more strongly however, and lessened the damage their misguided policies caused.

      • 1 Reply to ghosananon
      • NO, I listened to the congressional hearings on banking, and every liberal Democrat blasted the banks for not providing mortgage loans to flakes in high risk loan areas. The libs called it "red lining" and made the compassionate appeal to the voters that the rich guy banks were preventing poor folks from owning a home as if it was an entitlement. Barney Franks pushed, and helped put teeth into the Community Reorganization ACT as well as Slick Willy, and the rest is history. Banks were forced to make loans, and Barney promised that Fanny and Freddie would buy up the risky loans, and remove the risk from the banks. "You just write the loans, and we will buy them up." Along with low loan rates this created the speculative buying frenzy as well as the subprime loans. In the end, Alan Greenspan, Mr. economy guru, said that he miscalculated the impact on the overall economy from the subprime loans. He stated he thought it would have a minumum effect when it had a major effect. But then Barney and friends highly leveraging these loans selling "bundled" loan packages called (??) to foreign Central banks, and the entire packages went under because of the bad home loans brought down world economies. Totally a lbieral playground of squandering tax payer money...Barney, Freddie, and Fanny.

 
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