Thread: Has President Bush Done The Right Thing?

Originally Posted by mjdsr

Do you have anything to back this up. I have read numerous articles, written by economists that say otherwise.



Did you read the link I gave? If anyone is to blame it is the democrats, and those republicans who joined them, that blocked attempts to reform fannie and freddie.



Yes...we are being fleeced, but the policies of the democrats are a huge part.

I still don't understand how you don't see how these regulations, when coupled with the loose monetary policies of the fed caused this bubble. Greed is a constant. It is part of human nature, and there will always be greedy people...both in business and the government...that can aggravate the situation. But to think that greed is the major cause is ignorance.

Oh! Great links. The White House? And IBD stating Fannie/Freddie were responsible for subprime loans. Fannie/freddie didn't buy any subprime so the article's premise is garbage.

I am not saying the GSE's didn't have a financing advantage. They did. But because Wall Street assholes tried to outdo them with subprime crap with fradulent ratings (are you going to blame this on CRA, fannie, and freddie?) is not the fault of fannie/freddie

Fannie/Freddie should have never gone public at all. They (they weren't fannie/freddie back then) were successful in the 50's and early 60's creating 30 year loans (loans not available in any other country) that helped move this country towards a higher home ownership %.

Fannie/freddie's biggest problem was the desire for quicker growth caused only after they went partially public. If they stayed 100% in government hands, they never would have had the need for Wall Street 15% annual growth targets, dividend disbursements, and ridiculous salaries for untalented people simply because they kissed the right asses. Remember - unlike in sports where one must generally prove talent to move to higher levels - its who you know, not what you know. Just look at how overmatched a Goldman Sachs star like Paulson has been by this crisis.

Originally Posted by michaelr

Really, huh, American first hey? You had better take a refresher course there pal, it you could pull yourself away from the flag long enough that is. Your country is fucking hard, I dunno, maybe you like that, but if you have children or grandchildren, then you might want to rethink your position, learn what the real problem is, then write to your reps urging them to SIT DOWN AND SHUT THE FUCK UP, else wise those little ones and all American children born in the next few years will have so much debt that they will literally become slaves to it.

mjdsr, has been pretty spot on, you can learn from her!

When i said america first I was responding mjdsr's assertion this was all about CRA's tiny % of loans and his/her apparant assertions that donations only to democrats were the problem.

As for my feelings on debt, why don't you check my thread vote to see where I stand.

I work in the mortgage/financing industry (and have in various roles since 1988) and was shocked in 2005, 2006 and 2007 to see the expansion in loan products. I turned down lenders such as World Savings (bought out by Wachovia) when they solicited me (I didn't call them, they called me repeatedly) because their products were crappy negam loans. and I turned away clients seeking those loans. I personally cost myself over 6 figures because I could see what was happening and didn't want to be a part of it. So don't question my moral character when I oppose those who don't have a real clue where and when THE REAL PROBLEM that has caused this crisis started from.

There seems to be a concerted effort to place blame for this crisis anywhere other then where it belongs.

Originally Posted by International Underwriter

Bush, Congress and anyone screaming for less or no regulation deserves the blame for this.

Bush and Congress are not "free marketeers." If we had a free market, this mess would not have happened.