Its funny bush gets blammed for the economy.... - Printable Version

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Its funny bush gets blammed for the economy.... - Anhil8tor - 09-23-2008

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1


Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.'' .......

The writing was on the wall in 1999

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Its funny bush gets blammed for the economy.... - Anhil8tor - 09-23-2008

While McCain was trying to save the housing industry and the American taxpayers from the current crisis THREE YEARS ago, what was Barack Obama doing? Taking $126,349 in contributions from Fannie Mae and Freddie Mac.

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Its funny bush gets blammed for the economy.... - Bill - 09-23-2008

I don't blame bush. (even though he's bankrupt 3 of his daddy's companies) I blame the stupid fucks who got too greedy and floated all these loans to people they knew could never afford them. they figured the real estate bubble was a myth and they'd make millions off of reselling repossessed homes. I just don't agree with bailing them out with tax dollars. yeah, I understand that if we don't it does more harm than good but where's uncle sam when I can't make next months car loan payment? Not that that's a problem, but what should be good for one (big business) should be good for all (joe smoe struggling to make his mortgage payment) Truth is we'll all get saddled with the dept of a few who are still collecting multi million dollar bonuses from so called bankrupt companies. this is the first time I think Canada has it right. you can't buy a house in canada without at least 30% down and there are no such thing as 100% mortgages.

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Its funny bush gets blammed for the economy.... - Anhil8tor - 09-23-2008

our government is pushing towards a socialistic view....


its really sad to watch.

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Its funny bush gets blammed for the economy.... - Bill - 09-23-2008

Anhil8tor Wrote:our government is pushing towards a socialistic view....


its really sad to watch.

too much credit dept is floating around to make that happen on the part of the consumer / businesses / government...the government has too much dept already, it can't continue to bail out these businesses and take a peice of the pie in return or everything will end up being owned by china and japan. Businesses have too much dept to give the government a peice of the action and continue operating and americans owe too much to foot the bill and keep the economy from an all out depression.

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Its funny bush gets blammed for the economy.... - BIRD33 - 09-23-2008

Anhil8tor Wrote:our government is pushing towards a socialistic view....


its really sad to watch.

And its happening during a republican administration.Imagine that.You guys are such suckers.

Didnt Mccain and his advisors like Phil Graham brag less than a year ago about how they helped the banking industry by pushing deregulation that they helped pass and is a major part of the current crisis?Is Obama taking less than 150,000 in contributions from a billion dollar company more to blame than Mccain actually helping set policies that got us into this mess?

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Its funny bush gets blammed for the economy.... - Tribal Dragon - 09-24-2008

Hi Bill!

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