Do we really want to start the blame game ? The Bush blame game.
Because if so, here is your history lesson.. The CRA was started by Jimmy Carter. Then Bill Clinton put it on Steroids...You know to be "fair".
Then although Bush was President, Barney Frank and Company ran with the CRA and pushed the banks to engage in Loans they never wanted to do..
Subprime lending was forced on the Banks by Barney Frank, Chuck Schumner and company to make it "fair" that everyone gets a home loan.
In 2003 , and 2005, Bush and the Right and the Federal Reserve said we are at risk...Barney Frank said we were not at risk..
In 2006, McCain called for tougher regulations...The democrats blocked the effort...Obama voted..
Bush tried several times to stop this ,but he was labeled a racist by the left and by the press.. No one in the media and on the left did their job to save the nation from collapse.
Sure Banks made a lot of money, and Goldman Sachs took the country for a ride.. I did too...I was not going to sit back while it was happening..
Sure there were MBS's that were DDD that got packaged as AAA and sold world wide. But you know what ? Stop trying to be fair and lend to unqualified buyers...It is the mantra on the left to equal the playing field by any means neccessary, even when it makes no financial sense.
And the cry babies about the two wars, blah,blah,blah...Please stop...It was a sub prime mortgage meltdown...And if the left would have left the regulation and the banks alone to stay with old school standards, none of 2008 would have happened.
So I put the meltdown, and the printing and spending that was needed to save the Nation squarely at the feet of the Liberals, because I know what happened.
You see it was easy to see coming...I sold a luxury home in 2006 and went into cash...Waiting. Then in February 2009 I closed on a 55% off peak Home at the bottom for one third my selling price of the other home. Then I rolled the rest into Investments...The opportunity of a lifetime...
And I thought it was only once in a life time. But if we continue on this path, I will get a second shot at putting my portfolio on steroids, because I refuse to let the opportunity pass....
So those that blame Bush for the collapse, are just being.....misinformed, or following the kool aid trail..Because He said something, and the media and the left shut him down...Without 2008 where would we be ? Trillions less in debt, People still in homes. Jobless rate lower, and a stronger economy..Oh and still in two wars..
And I am for Clinton era tax rates.....AFTER true spending cuts are made...The education system is broken...Throwing more money at it will not fix it...You want infastructure done ? Bring the troops home and put them to work on the highways and bridges..The unions would go crazy but what are you going to do with 300,000 troops ? Keep sending them to different nations for a pay check..
Tell the EPA to shove it and trim it's power and fat...Stop trying to force higher fuel prices to mandate green energy...Don't tell me that the President does not set fuel prices...He said on camera and his Energy Czar said on camera that they welcome higher gasoline prices to "force" green energy, even if it means european prices...So he puts policies in place that raise the price to justify going green.
The media is not doing it's job...They worship Obama and the left...They will never tell the truth or expose the lies and corruption...But Bush ? They will run front page articles....There is a price to pay for such hypocracy and silence...
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Luck is the meeting of preparation and opportunity
Pro Touring 71 Z/28 in training
Soon to be crazy
Last edited by Bucketlist2012; 12-06-2012 at 07:20 AM.
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