46. "And is it GW Bush's fault when congress forces banks to lend to people who aren't credit worthy?"

Dave,

For once, speak rationally. Speak the truth, and not bull shit your way through this.

Are you saying that this Banking crisis is the Democrat controlled Congress fault?

You think this all happened suddenly and in a span of 20 months?

Are you that so far gone that it's hopeless?

This is a result of an economic ideology that is strictly Republican. It's all about De-Regulation (Republican), Borrowing(Reaganomics), Massive Tax Cuts and massive spending.

Over time, as it continues, you set up failures in future years. We're seeing it now. This isn't a 20 month thing. This is a 6 year year of complete Republican rule thing.

Botts at 4:43PM on Sep 15th 2008

47. Captain - I'm not sure what you're talking about. Hate is a strong word. It's more about getting tired of Obama's vacuous, ridiculous dog and pony show. This guy is the least qualified Presidential candidate in the last 50 years and the more questions he's asked about his qualifications, the madder he gets. Nice.

Dave at 4:49PM on Sep 15th 2008

48. "This isn't a 20 month thing."

*************

In the 20 months that we've had a Democratically controlled Congress, what legislation has been sent up for signing that addresses the financial sector issues we are now facing?

bob at 4:49PM on Sep 15th 2008

49. Botts at 3:50PM on Sep 15th 2008

Peace & prosperity during the Clinton years.

Peace was just a dream, all the while things were building to the inevitable that came to happen in 2001.

Prosperity- It was all on paper, no real worth.
Stock IPOs were coming out at insane rates and prices, In no way reflective of actual value. Most never amounted to much except to those who created the "craze". People were told "don't stop thinking about tomorrow, yesterday is gone" so forget what was common sense and just adopt the new philosophy. Anything goes. The whole thing was a house of cards that had to collapse at some point.
As long as it collapsed after those in power to prevent it were gone and had taken their $$$ with them.

M2D5 at 4:58PM on Sep 15th 2008

50. Obama has to merely 'be' to be a million miles better than any Republican position that has emerged in the last eight years?
>>>

Clearly, there must be a long Latin word that describes this sort of mental illness. An empty suit is still an empty suit.

thomas J gassett at 4:59PM on Sep 15th 2008

51. "In the 20 months that we've had a Democratically controlled Congress, what legislation has been sent up for signing that addresses the financial sector issues we are now facing?"

bob,

This isn't a 20 month thing. Any regulation proposals would have been vetoed, no question about it.

This is a result from 6 years of careless economic policies. The Republican Way.

This is only the beginning. Probably 1000's of banks will close before 2009 comes and goes, and doesn't matter who the President is or the Congress. This can't be stopped or contained.

But after the initial rush of this in the next couple years, with proper economic policies in place and regulation, things can change for the better. I hope.

4 more years of this, forget about it.

Botts at 5:34PM on Sep 15th 2008

52. "Peace was just a dream, all the while things were building to the inevitable that came to happen in 2001."

Starting back in 1980, right? Lebanon. Correct?

"Prosperity- It was all on paper, no real worth.
Stock IPOs were coming out at insane rates and prices, In no way reflective of actual value. Most never amounted to much except to those who created the "craze". People were told "don't stop thinking about tomorrow, yesterday is gone" so forget what was common sense and just adopt the new philosophy. Anything goes. The whole thing was a house of cards that had to collapse at some point.
As long as it collapsed after those in power to prevent it were gone and had taken their $$$ with them."

What is happening now cannot be blamed from what happened in 1992-2000. Two different scenarios. If Bush would have kept everything the same as if he weren't a Republican, you would not see what you're seeing now.

Even you should know that.

Botts at 5:38PM on Sep 15th 2008

53. In the 20 months that we've had a Democratically controlled Congress, what legislation has been sent up for signing that addresses the financial sector issues we are now facing?





Democratic control doesn't mean that the republicans aren't writing their fair share of legislation. Not that much has been done on a federal level but more on a state wide level yes.
Check out these sites


http://www.house.gov/house/Legproc.shtml

http://www.senate.gov/pagelayout/legislative/b_three_sections_with_teasers/active_leg_page.htm

goddess1prevail at 5:40PM on Sep 15th 2008

54. "This isn't a 20 month thing. Any regulation proposals would have been vetoed, no question about it."

*************

So in other words, nothing. They were swept into congress with a mandate to change things - or so we were told.

Given that we have absolutely nothing backing up Obama's claims that he's going to "change" things, I guess we have to look at what his party has done given the opportunity to, if nothing else, get the ball rolling.

And that would be nothing.

Same old, same old.

Brings to mind another barnyard analogy.

You've been sold a pig in a poke.

bob at 5:48PM on Sep 15th 2008

55. Take Phil Gram (McCain's campaign advisor and probable Secretary of Treasury if McCain wins) who introduced to congress the Commodity Futures Modernization Act, which deregulates banking measures set forth after the market crash of 29. This bill was what originally set in motion the irresponsible bank lending (swapping of unregulated loans) that led to the housing crisis we are in today.-me!





I forgot to mention that the Commodity Futures Modernization Act was written by Phil Gramm, a republican and signed into law by Clinton, a democrat in 2000. Measures to regulate the swaps that bundled these risky securities were vetoed by Bush, a republican in 2006.
And ultimately these unregulated swaps led to the economic crisis we are in today.


Problem is these morons have no way of understanding the consequences these bills would have had since none of them have the experience in banking or economic matters. The lobbyists with their fancy writing lawyers do and when you're receiving millions in contributions for your campaign why do you care what the bills really say?
So you see, it's not always a republican or democrats fault. Sometimes it's both
They're all morons in my book.

goddess1prevail at 5:53PM on Sep 15th 2008

56. "PS Just remember the eight years of peace and prosperity that you had under Bill Clinton. Ah, those golden years. And you can have them again.
Vote Democratic!

Francis Xavier Pope at 1:02AM on Sep"

Oh yeah ! I remember.... WTC bombing, attack on U.S.S. Cole, bombing of embassies in Kenya/Nairobi, Marines murdered in Somalia, Reservists murdered in Saudi Arabia, terrorists planning 9/11 on Clinton's watch, Enron running scams under Clinton, NASDAQ/DOT COM bubble of false profits growing, Saddam's daily "Death To America" machete' wielding speeches... Ahh, the "golden years" of Clinton!!

Lizard at 6:10PM on Sep 15th 2008

57. 38. Promethea says; "Those of you who are voting for McCain/Palin - wake up and realize that they are LIARS. Realize that if McCain dies in office, Palin doesn't have the brains, or the experience to run this country. Please listen to the truth before you make that mistake and give your vote to them."

As long as you realize that if Biden dies in office Obammy doesn't have enough experience to run this country. We know your type "Promethea"....All Republicans "lie," and ALL Democrats are candidates for Sainthood. You have all of the 'open-mindedness' of a Union steward at an AFL/CIO rally.
...And what is this "Prometh" thing? Maybe you should give the crack pipe a rest.

Lizard at 6:38PM on Sep 15th 2008

58. "So in other words, nothing. They were swept into congress with a mandate to change things - or so we were told."

So in other words, nothing could have prevented what we are seeing right now. It was already going to happen regardless.

"Given that we have absolutely nothing backing up Obama's claims that he's going to "change" things, I guess we have to look at what his party has done given the opportunity to, if nothing else, get the ball rolling."

Well he's not the President yet. He does understand economics and isn't a moron. With a Democratic President and Democratic Congress, his plans for massive regulation, closing of the shifty loopholes, will put in motion a future economy that can recover from the neocons. This is where his stellar education will come in handy.

"And that would be nothing.

Same old, same old."

Go ahead and vote for the same thing. You'll get your same old same old. And let me tell you, same old same old will give us the Great Depression II.

"Brings to mind another barnyard analogy.

You've been sold a pig in a poke."

That must be that "Change" shit you keep hearing from the McCain campaign.

Botts at 6:57PM on Sep 15th 2008

59. >>>The current crisis would be even worse had not been for the prudent "Troskyites" of yesteryear who mandated such banking reforms as the Federal Deposit Insurance Corporation (FDIC).>>>

The FDIC levies a fee on all U.S. Banks. These are the reserves that insure your deposits. But here’s the problem: The reserves are running low this year. As of today, the FDIC’s reserves reported it had US$45.2 billion of reserves covering 1.01% of all deposits. This is considered historically low.

FDR was personally opposed to insuring banks. The Congress pushed it & FDR caved to the idea. It wasn't a Democratic brainstorm.

It's all fluff Randy, all of it. One big perception after another. The same markets that made Clinton a hero are your excuse for beating down on free enterprise in the name of partisanship.

I don't like what's going on anymore or less than you. We'll reach a bottom with this crisis that we all contributed to & emerge wiser with the risk taking. The bottom line always needs to be heeded, it doesn't matter what party you support....

Bobby at 6:58PM on Sep 15th 2008

60. >>>So you see, it's not always a republican or democrats fault. Sometimes it's both
They're all morons in my book.


goddess1prevail at 5:53PM on Sep 15th 2008>>>

goddess, you're a wise lady. Your comments present an opportunity for open dialogue. A person's gotta respect that type of open mindedness. We won't resolve a thing until we all realize it's not about a two party system, it's about us....

Bobby at 7:13PM on Sep 15th 2008