Just curious cause that makes no sense. Congress makes policy and approves Fed Chairman and listens to his lies and BS day after day and does nothing. Democrat congress has the power to abolish the Fed and fractional lending but does nothing but watch it destroy this country.
In general, you'll find most democraps won't take responsibility for their poor investment decisions. They need someone to blame for their lost investment. Moreover, it has been shown that HUD, under Clinton appointee Andrew Young pressured FNM and FRE to make loans to minorities, to allow them to "participate in the American Dream". Obviously, in the past, minorities weren't able to secure loans, based on credit ratings systems, but HUD wanted the system "tweaked" to give minorities greater access to credit. What a shock that people haven't been able to repay their loans. The "arbitrary" rules that banks have followed for decades were put aside, in favor of affirmative action in credit. Speculators also played a large part in the housing collapse as well, but all in all, the single largest issue in failed mortgage loans, was giving all kinds of gimmick loans to people, who really didn't have the ability to repay the loans. Of course, you'll never hear the media tell you the real truth about why many of these loans failed, as it doesn't make their agenda look too good.
Before you accuse the Dems., let's see the voting records. My hunch is, we have republican votes too. It would be rare that it was totally down party lines. Come on, Republicans even had a Dem speak at their convention. Party lines cross.
I totally agree with your point. Most of the problems (rising gas prices and housing crisis) started since Democrats took control of Congress in January 2007. People and businesses have started to think hard about the anti-economic growth and anti-market rhetoric used by Democrats.
On this move to, Obama and Frank were the first people out there saying "don't worry, the shareholders will get royally screwed like they deserve". that ain't comforting... for any stock investment.
Plus, where is the outrage?
Have the Democrats EVER withheld outrage like this on ANY decision of the Administration?
This seems to be the first decision the Democrats are kind of really happy about.
No immediate calls for lynchings? Whats up with that?
It has been people like me-- the Sen. Bunnings and Ron Paul small government libertarian/conservatives (non establishment Republicans) that are the only ones going... what in the socialist heck just happened.
Bush still has to sign. It's not like the Dems can run and thru and it's law. It's the responsibility of both Parties.
I'm just happy this happened right before an election. Now we really have some serious stuff to hold them to.
We blame them all (both Republican and Democrat). They are nothing but untrusted worthy liars. They violate the 5th Amendment of The United State Constitution, seizing private properties for public use.