ORIGINAL: DM
ORIGINAL: spd522
ORIGINAL: bigangrychicken
The economy went in the toilet thanks to the mortgage crisis. This was brought on by Clinton's "equal credit for everyone policy." W didn't help matters, that's true. But don't be a simpleton that the Dems want you to be. You can thank Bill Clinton and our people's own "spoiled brat" mentality for that.
Exactly right. Clinton pushed the subprime mortgage issues to shove minorities into houses they could barely afford as it is. Purely a political move to look good. However, with those mortgages came adjustable rates. Soon the rates climbed and they couldn't make the payments. Obama's financial consultant, Franklin Raines, was in charge of Fannie Mae during that time and pocketed millions. When it all crashed and he was kicked out, he still got a $90 Million payout. Republicans warned of it several years ago but got buried by the Democrats.
You can blame Bush and the Republicans if you want but it was the Democrats, greedy lenders, and irresponsible borrowers that caused it all. Much like the auto sales crash...........UAW priced themselves out of jobs.
There it is in a nutshell...
I wonder who they will be blameingone or twoyears from now, when things don't jump into the fastlane?
DM
You pretty well nailed it....But let me add just a little more fuel to the fire....You can thank the hog labor unions for helping to destroy the economy, also. The union concept was a good thing many, many years ago, when it got laborers out of crude working conditions and promoted safety and a reasonable wage. The problem has been over the years, they have gotten so big and powerful, the original objectivity has gone out the window. Huge hourly wages for some pretty repetitive work. Don't get me wrong....I'm not picking on individuals here...I'm blaming the process itself. They have totally outpriced their worth. It's not too hard to understand why corporations now look outside our country for labor. And who do the unions support?? And who supports and courts the union vote time after time? Yet the Republicans get blamed for the outsourcing problem.....Huh???