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"AA" roots of credit crisis

Discussion in 'U.S. Politics' started by Libsmasher, Sep 18, 2008.

  1. Libsmasher

    Libsmasher New Member

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    I haven't heard any mention of this - probably because the historical memory of most lib media talking heads goes back about one year.

    One of the causes, a big one, of the credit crisis goes back to the four-year running disaster of the Jimmy Carter administration.

    In 1977, the democrat House, democrat Senate, and Jimmy Carter, passed the Community Reinvestment Act, basically "affirmative action" in mortgage lending, in which banks were forced to lend to financially unqualified minorities. This by itself is probably the origin of the sub-prime loan, and in any case lots of the threatened investment banks had big stakes in this type of risky loan. Eg, take bailed-out Bear-Stearns (wiki):

     
  2. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    And poor old Bush just stood there like a bemused half-wit watching it scale out of control.

    But it's not his fault.

    He can't help being stupid.
     
  3. Libsmasher

    Libsmasher New Member

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    No intelligent comment or rebuttal? No facts or arguments?

    Quit cluttering my threads with your puerile crap.
     
  4. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    Oh you couldn't see the message.

    Bush has been in power for 8 years and this disaster has occurred on his watch.

    It wasn't something that happend before his watch and then laid doormant until it went off like a time bomb.

    But to be fair stupidity would be a very convincing defence for Bush
     
  5. Libsmasher

    Libsmasher New Member

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    Why don't you stop making these stupid posts that only show how ignorant you are of the american political system? Bush couldn't do anything about a LAW that required loans to the unqualified. Blaming Bush for not changing a stupid law, instead of the creators of the law, is militant Bushophobic imbecilism.
     
  6. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    Ahh I see.

    So Bush couldn't do anything except sit back and watch it happen.

    Like he did when reading his little goat story.

    Ahh, poor stupid Georgey Worgey
     
  7. Libsmasher

    Libsmasher New Member

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    Do yourself and everyone else a favor - STFU. ;)
     
  8. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    I am only displaying synpathy for poor old Dubbya sitting there watching all this bad stuff going on around him that was all caused by democrat governments of old and not being able to do anything about it.

    The poor man. I mean, most people think he is a lousy president running a corrupt government but we know better eh Lib?

    It isn't his fault he is stupid,
     
  9. bododie

    bododie New Member

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    Anyone wonder if Dawkinsrock is that fool Iraqi minister who claimed that we were being run out of Bagdad when the interview showed the tanks about to run his ass over? Silly little boy.
     
  10. GOP(JT)

    GOP(JT) New Member

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    ROFL i keep getting pictures of osama bin laden hunched over a laptop in his lil cave posting away on HoP
     
  11. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    You mean that beardy guy that the US defences couldn't stop and they still can't find him.

    Is that the one?
     
  12. The Scotsman

    The Scotsman Well-Known Member

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    Location:
    South of the Haggis Munching Line
    ......:D:D..........they called him "Comical Ali"........enjoy

     
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