But I would rather have President Bush for 4 more years than Obama. I DO NOT blame Bush for the Market problems.... A thinking investor would not either. McCain wrote Bills that warned of the housing issues...but it was defeated in the Democrat controlled Houses. I am not ashamed to say that I feel that Bush is the most underappreciated President in recent time. I think that the country has failed in many ways. Individuals need to take RESPONDSIBLITY...That is a traditional AMERICAN element that is absent currently.
No one got it right so far. The democrats are to blame. 2004 there were hearings into fannie mae and freddie mac. Democrats buried it. BURIED. Go watch the youtube videos. Its from their own mouths. Maxine waters, frank raines, barney frank....
Even Bill Clinton said the democrats were to blame
..."Individuals need to take RESPONDSIBLITY...That is a traditional AMERICAN element that is absent currently."...
Yes, Individuals those who voted the incompetent President Bush need to take RESPONSIBILITY. He is a TOTAL FAILURE.
I'm sorry for your loss of wealth. I don't think many of us expected this and yes I too feel that President Bush did play a roll. I think he made some fundementally poor decisions. Honestly, I think they were special favors that banking industry lobbyists asked for in exchange to help fund his campaign. Yet there were most likely senators and congresmen also "influenced" so I don't think it was all Bush's doing.
My largest gripe is the GOP needs a strong candidate to come along and reinforce the party. Someone like a Ronald Reagan. I do believe people like this exist. McCain isn't such a guy, he's just another poor decision maker like Bush.
President Bush provided us with a free market system. It is up to the individual to handle the freedom respondsibly. I do not want or need Obama to be my parent and guardian and take away my freedoms. What government plan or program has ever worked better than the free market long term?
Bush destroyed the free market system. Does the government having to buy banks look like the free market to you? Does it? Seriously? Does it?
Bush corrupted the system and broke it by legalizing wide scale fraud on many fronts.
Although Bush is an incompetent spendthrift to say this is an outright lie:
<<President Bush provided us with a free market system.>>
There is very little in the US system that is free market any more. Take for example the fifth plank of the communist manifesto which is a mirror image of the Federal reserve:
5. Centralization of credit in the hands of the State, by means of a national bank with state capital and an exclusive monopoly.
So please don't insult free market systems and propagandize us by saying the current US economic system comes anywhere close to resembling one
w/out going into chronic repetition it absolutely boggles my mind, your comment. when does association versus results enter you mind.
the man has single handedly done more overtly to destroy the middle class than anyone in modern history. i'll NEVER understand the bush thesis of ANY of his ideologial beliefs or goals. he's w/out question one of the biggest criminals in the history of this country. thank god in 14 days he'll become nothing more than an ugly footnote rapidly passing into obscurity. GOOD RIDDANCE TO BAD RUBBISH!!!
You should blame Bush. He did all of this 100%. Bush had Greenspan lower rates nonsensically after 9/11. Bush didn't allow the SEC to regulate homes loans, had them remove the uptick rule, allowed them to refuse to enforce naked short selling laws, and most damning of all, gave out special permission for some market players to take on insane amounts leverage.
Bush, who thought he knew better than the guys who fixed the markets after the crash in the 1930's, undid many market protections that made our financial system weak.
I personally know someone who earned in the 40's who had been "allowed" to borrow over 800K of cash. Back when I bought my home (20 years ago) I was barely allowed to borrow 80K making the same total with two incomes. And any of you wonder why the financial mess is in the state it is in? Sure, personal responisbility....but know this, if I put money into a business that lost 120K in a year my personal responisbility would be to get the hell out...just what everyone has been doing. What? step up to the plate and continue to honor the promise to overpay for an asset for the next 30 years. Not very smart. Sure, it is noble for someone to volunteer to pay for the bubble. I think uncle sam threw some cash at it but it seems it is going to put out the fire in the executive suites. Forest fire is still out of control