Do you think Bush is responsible for the current economic crisis?
I think Bush is partly responsible for the current economic crisis. He knew what’s coming, instead he watched the housing market collapse, and as a result, the stock market is plummeting every day and many banks are out of business.
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we need to stop these vast oversimplificaitons- its’ bush’s fault, in part – but the Fed and Congress have much more to do iwth this – enabling fannie mae and freddie mac (both dems and republicans) – the fed lowering capital requirements on investment banks so they could make bad investments- weak dollar policies – REFUSAL by both parties to get spending under control by congress – simply blaming bush is escapism – trying to make the bigger problems we face wtih the entire system of government disappear when bush is gone – when the problems have been around for decades – it ain’t gonna happen.
Yes
Yep. You can’t be King without taking the fall. Except in this case – that’s why we have the Patriot Act. He is exempt from all evil and can break into your home, stop you from speaking out in public, wiretap your phones, and spy on your records.
You really need to ask that question?
I think anyone that blames or credits a president with the state of the economy…doesn’t really understand the economy
Yes Yes and Yes
Him and Allen Greenspan
Ask Barney Frank
No.
One word…YES
No. I don’t think so. I think people giving loans to people who couldn’t afford to pay them back are responsible. The President’s inaction is just as suspect as Congress’. So if we’re finger-pointing, I don’t have enough hands.
Not any more than Congress.
hell yes!! our economy was great until he became president!!
No. Liberal policies that encourage business to make risky loans to minorities because there’ a perception that they don’t get a fair shake are responsible for the economic crisis.
All Bush is responsible for is 8 years of growth following his tax cuts.
not just Bush but our Congress. A President is only as powerful as the Congress.
I would counter that the market will continue to decline as long as investors see a risk of obama’s taxes being implemented. If they are implemented — then expect The drop – not the minor fluctuations we have seen. You must realize most investment advisers are pushing hard for a total pullout of us market for all high net worth investors. Move the funds overseas and into nontaxable. I will return to the market once it stabilizes around 7000.
of course bush should have done something but i think it was some of the people remember money is the root to all evil says the Bible
not fully but he should of acted when people started to default 18 months ago so i think he was negligent
No. I think Frank, Dodd, Pelosi and the Democrats voting no twice to regulate Fannie & Freddie are responsible for this crisis. With the help of ACORN as well.
no and you have got to be fucking stupid to think it is his fault because clinton is the one who signed off on all of that shit
He’s just as responsible for it as Clinton. The real culprit is congress. Yes, Bush requested the bailout that basically destroyed the market, but congress had to pass it (which happened a week before Bush explained any details). I saw Obama, McCain, and Bill Clinton all lobbying for this bailout.
When the government makes banks give loans to people with poor credit, bad things will happen.
The government is determined to take the risk out of capitalism, and that’s impossible. To my recollection, that philosophy began with Clinton.
god no.
henry cisneros under clinton wrote the sub prime mess
the biggest architect of the aig collapse is the obama campaign head
and as far as the war cost, if clintonw wouldve simply done his job and captured bin laden one of the six times he was able to this war wouldnt have been an issue at all.
No, even LIBERAL SNL said that it was the democrats. Acorn forced banks to give loans to ppl who would never be able to repay. Obama trained ppl for Acorn. Republicans tried to stop this. So while he was FAR from perfect, this time it is the democrats fault
Tree of ACORN+OBAMA http://www.gop.com/obamaacorntree/?sid=google&t=rncgeneral&r=ObamaAcornTree
http://www.johnmccain.com/videolanding/acorn1.htm?sid=google&tobama&r=obamaacornvideo
A MarketWatch summary: http://www.marketwatch.com/news/story/rnc-obamas-acorn-tree/story.aspx?guid=%7B392B81C5-251B-4796-9EB5-9DF2BB22C92F%7D&dist=hppr
Connecting the dots on Obama: http://www.youtube.com/watch?v=zUdjhKbImwE
http://www.youtube.com/watch?v=_gDo3iYwTa4
Yes and the Democrats but mostly Bush.
Some of it. But others did have something to do with it as well.
Edit: People, please, the economy didn’t start to go down just two years ago, it’s been going down for a LOT longer than that. Yes, I feel Bush is partially responsible for his dim witted policies, and yes, I feel congress is partially responsible. But it’s been going on for longer than many of you think.
Dems and Repubs are responsible. And Barney Frank, Chris Dodd, and those other jerks, have sent this economy reeling, and they’re Dems. But, as I said, both parties are responsible for this mess.
it seems to have happened since the dems took over congress so if you want to lay blame the look to the fools who voted them into office .
It is definitely not President Bush’s fault for the state of our economy right now. Our economy was doing well until the Democrats took over congress. And Im not totally blaming the Democrats. The fall of the economy is part of the business cycle. It was bound to happen sometime.
Yes he is partly responsible. He is in favour of deregulating the economy which essentially caused the crisis. He is also a supporter of big business and privatization.
Certainly partly. Greenspan partly. The Banking Commitee partly. ACORN partly. People who bought homes they can’t afford partly. Democrats against drilling partly.
You say Bush "watched", although he warned in 2003 and 2005 that Fannie and Freddie were issues, and congress failed to act.
Democrats pushed for lower lending standards at Fannie Mae and Freddie Mac in the belief that everyone had a right to own a home even if they didn’t have a down payment or an ability to make the payments when the interest rates went up on their variable rate mortgages. George Bush attempted to stop this practice in 2003 and John McCain and other senators attempted to introduce legislation to end this in 2003.
The Democrats created this problem.
No but it was partly democrat run semi-government agencies like fannie mae and freddie mac that did couple that with democrats wanting minority to get a fair shake at owning houses so the standards were lowered which paved the way for predatory lending. Even Bill Clinton admitted this reluctantly when he appeared on David Letterman.
Yes!
No, Not totally. he is in the seat when it went ka-poot, so he will garner some of the blame, but not all of it. This goes back to the mid 90’s and involves many, many, many, many people.
I know you are all going to think I’m crazy – but I’m sure this somehow goes back to 9/11 and building 7.
In other words – YES.
I think anyone who thinks investors and speculators do not make decisions based on the deicisons of our leaders, really doesn’t understand the economy.
Bush ordered troops into the Middle East, strain of the economy is a normal result of such actions.
Republicans peeled back many of FDR’s protections against depression, as a result of their deregulations.
Now we will have to once again start the public works to boost the economy.
If you think otherwise, have fun being wrong.
If McCain is elected, The American people will hurt much much longer. But that is ok as long as the rich don’t, HUH?
No. It is proven that Bush and McCain both warned in 2002 and 2003 respectivley, that is Congress did not get a handle on Freddie and Fannie, that the housing market would crash and take the econoomy with it.
Congress under Democratic control fought all effort to control it early.
Head of Banking Barney Franks ignored it. His live in boyfriend an assistant high up.
Chuck Schumer, Harry Reid, Nancy Pelosi all ignored the warning and fought for less control on housing. This was a direct follow up to Clinton administration housing efforts of 1992 and 1996.
Bush could do nothing with Reid and Pelosi in charge.
NOW they blame Bush (for everthing) because it sticks and it works. Look at details.
Obama Economic advisor made $90 million in 6 years at Freddie Mac.
another adviser $19 million in 4 years.
Where is the call for commisions to review this. If the republicans were guilty you know that the Dems would call for hearings. The silence is deafening.
YES!!!!!
TG is absolutely right.
Blaming any one man for the state of a nation’s economy is ridiculous, even if that man is the President of the United States.
Congress is at fault, banks are at fault, Wall Street is at fault, ACORN is at fault, and the people who took the loans are at fault. It is an ideology of entitlement and irresponsibility in this country which is at fault. The lack of morals and ethical behavior is at fault, which comes down to the family, and the schools which teach the future citizens of this nation.
The only way to fix this problem is to begin at home with the parents. Responsibility, and good decision making are essential, and it is something that is not abounding in America today because of this ideology of Political Correctness and "extremist tolerance" of what should be intolerable.
he was part of it… and he is the one who insists on keeping us in this worthless war.
but i think the home buyer has a lot of blame on them as well. i would never buy a house knowing that there would be a time when i wouldn’t be able to afford to make the payments. i considered buying during that time, but i decided against it… because i thought to myself "what if i can’t sell it later?" too bad the rest of the buyers didn’t make that same consideration. now we’re all screwed.
Why isn’t anyone talking about S.E.C. Ends Decades-Old Price Limits on Short Selling (2007)http://www.nytimes.com/2007/06/14/business/14sec.html
and
"Low-income home buyers can have just a nice a home as anyone else" by Bush, click on the attachment.
http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html (2002)
and
The bill that ultimately repealed the Glass-Steagall Act was introduced in the Senate by Phil Gramm (R-TX) and in the House of Representatives by James Leach (R-IA) in 1999. The bills were passed by a 54-44 vote along party lines with Republican support in the Senate[8] and by a 343-86 vote in the House of Representatives[9]. Nov 4, 1999: The final bipartisan bill , Gramm-Leach-Bliley Act in 1999, resolving the differences was passed in the Senate 90-8-1 and in the House: 362-57-15. Without forcing a veto vote, this bipartisan, veto proof legislation was signed into law by President Bill Clinton on November 12, 1999. [10]
The banking industry had been seeking the repeal of Glass-Steagall since at least the 1980s. In 1987 the Congressional Research Service prepared a report which explored the case for preserving Glass-Steagall and the case against preserving the act.[11]
The repeal enabled commercial lenders such as Citigroup, the largest U.S. bank by assets, to underwrite and trade instruments such as mortgage-backed securities and collateralized debt obligations and establish so-called structured investment vehicles, or SIVs, that bought those securities. [12] Citigroup played a major part in the repeal. Then called Citicorp, the company merged with Travelers Insurance company the year before using loopholes in Glass-Steagall that allowed for temporary exemptions. With lobbying led by Roger Levy, the "finance, insurance and real estate industries together are regularly the largest campaign contributors and biggest spenders on lobbying of all business sectors [in 1999]. They laid out more than $200 million for lobbying in 1998, according to the Center for Responsive Politics…" These industries succeeded in their two decades long effort to repeal the act.[13]
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