why is it that bush plan worked for 5 or 6 years and as soon as nancy reid frank dodd had control of congress the economy went south?

why is it that bush plan worked for 5 or 6 years and as soon as nancy reid frank dodd had control of congress the economy went south?

And to think most of our Reps. have degrees? What did they learn? Where is their common sense? Or their intellect?

sheebe on December 8, 2008 at 2:20 PM

Well, considering Harvard lost $8 billion in their worth…having a degree may not be worth much…

right2bright on December 8, 2008 at 2:27 PM

Yeah, 8 billion and left with 36 billion in endowments. Boy big education is really suffering and I bet they get a bailout next.

Internal Freddie Mac budget records show $11.7 million was paid to 52 outside lobbyists and consultants in 2006. Power brokers such as former House Speaker Newt Gingrich were recruited with six-figure contracts. …

Thanks Newt. I will remember this next time your PAC calls asking for money again.

{^_^}

Gingrich talked and wrote about what he saw as the benefits of the Freddie Mac business model.

Newt is dead to me now.

Bush tried to crack down on F/F much earlier, with no result, but at the same time he kept peddling various no-cost/low-cost down payment mortgage programs for minorities, which just added to the mess.

Washington’s a cesspool, and it’s about to get even more toxic.

Except this proves that it wasnt just democrats, in fact, it was Republican support for democrat dumb ideas that did us in. Republicans held the leadership at the time, what congress does under republican leadership is republicans responsability. Democrats could not and did not act alone, thus ALL blame, as you seem to place, does not fall with them.

ernesto on December 8, 2008 at 1:52 PM

A Republican consulting firm was paid $2M out of $11.7M to lobby on behalf of a company that had far more support from Democrats than Republicans… which of course absolves the Democrats completely from their eternal stupidity when it comes to economics. (go look how deep in the red SS and Medicare are while you’re at it)

Whatever lets you sleep at night.

The only thing that can save the country is term limits.

notagool on December 8, 2008 at 3:19 PM

Beware what you wish for. The Law of Unexpected Consequences will rule supreme here, should term limits be enacted. Just look at the “permanent political class” in the UK, where MP’s are so often figureheads and the assistance make policy by default.

The true damage they have done to this country may not be known for generations to come………. all in the name of “Social Engineering” and aquiring votes.

Their names, and the role they played in this, should be a mantra until every single citizen knows it by heart, and come the 2010 elections………………. HOLD THEM ACCOUNTABLE!!!

The only thing that can save the country is term limits.

right2bright on December 8, 2008 at 2:27 PM

Holy Cow! Didn’t know that… Thanks! Is a lot of money!

justfinethanks on December 8, 2008 at 1:43 PM

RE: too little regulation or too much regulation.

Both. Plus BAD regulation.

Regulations that forced banks to make relatively high risk loans to ‘poorly served, minority, poor’ neighborhoods.

Unregulated derivative markets, and accounting regulations that forced banks to mark the value of their unmarketable derivatives to zero.

The unregulated derivatives (credit default swaps) were booked as assets because they produce an income stream when in actuality they are a liability should a default require a payout, made worse when those supposed assets were used as collateral to purchase more derivatives.

And to think most of our Reps. have degrees? What did they learn? Where is their common sense? Or their intellect?

sheebe on December 8, 2008 at 2:20 PM

Well, considering Harvard lost $8 billion in their worth…having a degree may not be worth much…