Thread: What and Who caused this sub-prime mess?

What and Who caused this sub-prime mess?
And which party needs to answer if it?
(This is more a Democrat scandal than a Republican one.)

----For date reference: -------------------------------------------------
1963-1969 (D) Lyndon B. Johnson & Lady Bird Johnson
1969-1974 (R) Richard M. Nixon & Pat Nixon
1974-1977 (R) Gerald R. Ford & Betty Ford
1977-1981 (D) Jimmy Carter & Rosalynn Carter
1981-1989 (R) Ronald Reagan & Nancy Reagan
1989-1993 (R) George Bush & Barbara Bush
1993-2001 (D) Bill Clinton & Hillary Rodham Clinton
2001-2008 (R) George W. Bush & Laura Bush
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(Under Jimmy Carter (D)) 1977: “Community Reinvestment Actâ€

There was Republican Congress during most of these events.?!

vmonkey56 wrote:

There was Republican Congress during most of these events.?!

That doesn't erase the fact that most of the problem was created by the liberal thinking left (Democrats).

Vmonkey and MW . . .not worth the time to debate this as the democrat and republican parties are one and the same - except for a 'select' few like Mr. Jeff Sessions.

Originally Posted by alisab

Vmonkey and MW . . .not worth the time to debate this as the democrat and republican parties are one and the same - except for a 'select' few like Mr. Jeff Sessions.

Yes, the parties seem the same. It is important to be honest. Sadly both parties seem now to be in control of socialist and anarchists. The Republican Party under Bush have certainly turned their back on conservative principles and common sense. This article should not have ended with the Clinton administration. Bush's Minority Housing Initiative EO continued the problem as did his failure to uphold the rule of law. William has it right. Americans will need to come together no matter with which crappy candidate we're saddled in November.

And I know I'm paranoid, but....

"The talks (at the meeting of the Group of Seven industrialized nations) shifted Sunday to the World Bank and its policy-setting committee, LED BY MEXICAN FINANCE MINISTER AGUSTIN CARSTENS and the bank's president, Robert Zoellick, former U.S. diplomat and trade negotiator."

A Mexican governement official is going to be a primary player in the setting of international financial policy in response to the U.S. sub-prime mortgage debacle...what an amazing coincidence!

Originally Posted by alisab

Vmonkey and MW . . .not worth the time to debate this as the democrat and republican parties are one and the same - except for a 'select' few like Mr. Jeff Sessions.

Saved me from typing. Both parties are the same.

Okay people, Yes! There were bad Republicans in this mess too, but no way near the over dominating Democratic angle. And I also didn’t include in the article (because I didn’t have exact dates or name of submitted bills) but the Bush administration did tried a couple a times to get oversight Bills passed. But the Democrats, Nancy Pelosi and her gang used their majority to stop them.

WHY? Because it would have looked like Bush saved the day, and she couldn’t have that. Even at the risk of tanking the economy. (She is too stupid to have known what would happen and needs to be impeached before she causes anymore damage with her ego.). Also it would have exposed Barney Frank's homosexual lover (a Fannie Mac official), and Chris Dodd's sweetheart loans that promoted "easy" mortgages through Fannie Mae and Freddie Mac--all the time protecting them from more regulation--Democrats have their fingerprints all over the mortgage crisis. It is not that Republicans never did anything wrong, but it is Republicans that were trying to get more oversight for mortgages issued by Fannie Mae and Freddie Mac, which might have averted this financial crisis.

In any event, Democrats seem to have exercised almost full control of Fannie Mae during the crucial years, and to have protected both Fannie Mae and Freddie Mac. And when it got obvious that the dam was about break, the Democrats started blaming the lack of regulations due to Republicans. Look at Nancy Pelosi tirade when the $700 Billion bill didn’t pass the first time. Up until then she thought she was home free and the money would cover the Democrats butts, along with getting the public to believe the Republicans cause the problem.

And I do not excuse the few guilty Republicans that saw greed before the eyes and decided to take “their cutâ€

Bush has turned his back, until recently, on conservative values except for lip service. There is no difference between Repub or Dem these days--perhaps we should worry about them both, with their corporate connections, lobbyists, special interests, etc. With the economic mess, it seems nothing has been decided on how to handle the problem, except theories as what may work--a little later. This adminstration and Congress seem to have blown up the world, while they are running around like chickens with heads cut off.
And, unfortunately, this is the kind of "democracy" we want the rest of the world to embrace.

Originally Posted by vortex

Bush has turned his back, until recently, on conservative values except for lip service. There is no difference between Repub or Dem these days--perhaps we should worry about them both, with their corporate connections, lobbyists, special interests, etc. With the economic mess, it seems nothing has been decided on how to handle the problem, except theories as what may work--a little later. This adminstration and Congress seem to have blown up the world, while they are running around like chickens with heads cut off.
And, unfortunately, this is the kind of "democracy" we want the rest of the world to embrace.

vortex, and with all due respect,

You make a lot of valid points, but the time for cynicisms has passed.
Time is running out, and rapidly! So I need to ask all of us, which choice is[b] “badâ€