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Citigroup Inc. Message Board

  • dexter.laughandfeast dexter.laughandfeast Aug 30, 2010 3:00 PM Flag

    Bush and the Republicans screwed the economy so bad, even Obama

    Bush and the Republicans screwed the economy so bad, even Obama that even $800B of stimulus cannot get it going.

    And now these same stupid "Tax cut" crazies are running around to extend Bush tax cuts, which caused the whole deficit mess in the first place.

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    • In April 2001, the Bush administration warned that Freddie and Fannie were too large and over leveraged and their failure “could cause strong repercussions in financial markets”.

      By September 2003, Republicans began to question Democrats about oversight needed for Freddie and Frannie. The issue was opposed by Congressional Democrats. ‘‘These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing. Representative Melvin L. Watt, Democrat of North Carolina, agreed. ”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,”

      n 2005, the Senate Banking Committee, then chaired by Republican Richard Shelby, tried to rein in the two organizations by passing some strong new regulations. Democrat Senator Chris Dodd of Connecticut successfully threatened a filibuster. Barney Frank continued to defend Fannie and Freddie as “fundamentally sound” and labled the president’s proposals as “insane”. Senator Thomas Carper of Delaware stated “If it ain’t broke, don’t fix it.” Maxine Waters of California accused Republicans of being racially motivated.

    • Most of the $800 billion dollars has been wasted. We got nothing for it. Gov't is not efficient when spending our money.

    • Looks like that ole tax cut crazy obammy is going to extend the Bush Tax cuts. He has no clue as to what's necessary to revive this economy. He doesn't know whether to crap or go blind.

    • The wars have cost about 7 trillion dollars in real costs. all the stolen money and all.

    • Among many other completecockups, you admit Bonobo wasted $800 B on liberal pork, but he get's a pass.

      You have less clues than a clueless person trying to play Clue without the Clue board game.

      Being president shouldn't be a trial and error process.

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