When the Dumb-ol-Crats won House control in '06, THAT is when the Sh_t hit the fan, and Bush was rebuffed at every turn to regulate these Housing entities. Obama's good buddy, Franklin Raines, bilked & milked a severance pkg. bonus of $90 MILLION to leave Fannie!!!! Prison would be where we all would be had we done what he did, and what the Dumb-ol-Crats did in ignoring the crisis. SH_T hit the fan right after the time the "D's" took control in '06. That is FACT. No disputing the chronology.
One comment: Pres. Bush DID send Treas.Sec.Snow up to Capitol Hill (it's verified true on YouTube) trying to "clamp down" on Fannie and Freddie, or as Snow stated, "we face a severe crisis by not tightening regulations" (on Fannie/Freddie). George W. sent his Treas.Sec'y 3 times to Capitol Hill, but was rebuffed by Maxine Waters, Kendrick Meek, Barney Frank & Christopher Dodd--all inept or corrupt! Questioning Franklin Raines, Obama's Fannie CEO buddy, was tantamount to "racism," per Maxine.
President Clinton is one of the greatest world leaders. And this video is evidence that the blame card is put on Clinton more than any other president. Let me ask you this: why are we still blaming a president who left office NINE FUCKING YEARS AGO? We had a billion dollar surplus by the time his term ended, which were pissed away through tax cuts for the rich. (Tax cuts cost money, too, neocons- it's simple economics.) Clinton had absolutely NOTHING to do with the recession, blame the BANKS
@VoiceHunter how do you get a surplus??? RAISE TAXES!!! oh but they were taxes on the rich you say?? yes! and everybody else! he raised the corporate taxes!! only large businesses are not as affected by that, the small business are! and middle class IS SMALL BUSINESS. clinton and democrats had nothing to do w/ Fannie and Freddie??? your a fuckin tard
@mauicletus I'M the tard? You don't even know how to type correctly. And you don't know shit about Clinton's economic policies. He gave tax cuts so large, the government would actually pay you money and give you the tools to get on your feet if you were in poverty. Stop believing everything Rush Limbaugh tells you.
@VoiceHunter <---- definition of ignorance. tax cuts so LARGE????? WTF? how about YOU STOP BELIEVING WHAT LIBERALS TELL YOU! since they obviously dont have your best interest in mind, if they did, they WOULD SUPPORT MISSLE DEFENSE, but they dont, because you are a pawn to be bartered
@VoiceHunter. I'm a Liberal Progressive (registered Independent) & part of what this guy is saying is true. Clinton signed into law in Nov 1999 "The Financial Services Modernization Act". which removed the separation between the banks Wall St. It also allowed 4 the derivatives 2B traded which allowed banks 2 package these poorly underwritten loans & sell them to Wall St. Once these loans started defaulting, it took our financial sys down w/it in Sept of 2007. It was voted on by Dems & Repubs
@VoiceHunter. Although, I would agree w/u on the blame game thing. Obama has every right 2 blame Bush re:the current status of the economy. When u have an economy that was f-ed up as badly as Bush F-ed things up, it takes a while 2 recover. Just like it did when Clinton took over Bush Sr's economy. But 2 blame Clinton 4 the deregulation that Bush had 6 years 2 fix? Um. Thats a little hard to swallow. But thats what all the right wing talkers are doing right now. They blame the Dems & Visa versa
Somehow I think explaining to you How any why FNM, FRE work and why they are government back would be futile. I think also that explaining that they are simply reinsurance companies (not primary lenders) whould not make much sense to you. In addition, the banks were not forced to lend to anyone, They simply couldnt discriminate against certain areas if all other matters were equal. I doubt that reason and fact would really do much good here.
you son of the B if these houses hasn't been built and bought by the irresponsible, then $200 Billions would be used on the National High speed rail project for America but thanks for the idiot people..
You're an idiot Bob and your paranoia shows it. The low income loans were less than.01% of the money used for the bailout. The derivative market is what dropped us to our knees. I guess you forgot about how McCains campaign manager belonged to the Home Ownership Alliance,which defended Freddie Mac and Fannie Mae against stricter regulations paying him over $2 Million. What did they get for their money? Access to John McCain.
I guess you forgot about how McCains campaign manager belonged to the Home Ownership Alliance,which defended Freddie Mac and Fannie Mae against stricter regulations paying him over $2 Million. What did they get for their money? Access to John McCain.
The best idea is to DISMANTLE both Fannie and Freddie. The idea of both of these companies is to inject liquidity into the mortgage markets, by freeing banks capital which would otherwise be tied up in the loans if it were not for F&F buying. The problem is when F&F get burned, the government gets burned. Also, I am sure banks are a lot less careful doing their underwriting due to the fact that F&F are going to soon be taking the stinky paper off thier hands, Will F&F ever die, oink oink, never.
hey clinton fixed bushs dads mess and made us a great country what messes everyone had money then until that dumb fucking cowboy came in and who cares that bill was with a girl in office who gives to fuck every 18 year old boy now adays sleeps with 3 girls a week so there and girls now adays a whores
The sad part are the student loans. Millions of people can not even clear them with barnkruptcy.
I remember working on capmus one summer, repairing items in the dorms, when a charter bus dropped off 40freshman "students" who needed to get ready for "college". in June.
I asked my boss who they were and he said, and I quote "the end".
Bob should start a fundraiser thing call the something patrioticlike, like the fundraiser for America or something, and then he should make a serious run for president next election. History shows that its usually the guy that spends the most that wins the election. His rants make since to people, and I think he could have a serious shot, hell I'd vote for him
@splendid1000 yes, Im a moron for wishing to vote for someone that actually speaks his mind and is at least somewhat sane, over the stupid retards in office right now, because they are doing a crackerjack job, right. wouldnt matter anyway, as I said, if he had more money than the person he'd run against, which is probably impossible because of all the money those jokers take from bribes, than statistically, he would win.
Oh man I thought Freddie Mac was hilarious in Friday and in Ocean's 11! Too bad the funny ones always go first. Speaking of going first, I saw another video with this guy and he said when it comes to a gay interracial gangbang, he ALWAYS goes first!!!
good comment. you express an opinion that is well within your rights as a American Citizen. WE'LL BE THERE FOR YOU WHEN YOU NEED US! and you will...by the way...i have a BS, work in for the gov't and have a business on the side. pull yourself up by your boot-straps and suck it up kiddo! it's tough out here...don't be pissed off...it's hard talk.
Id say this is a brain on drugs but youd first need to believe it has a brain. I dont think thats even possible. I guess you forgot that under Clinto we had a surplus. I guess you forgot that the last three so called bail outs were under Rebublicans. The great depres the savings and loans and now the greatest of all world bailout. Do you have any idea how stupid you sound. Sorry dude but you are so frekin wrong on everything you seen to think is real. Do yourself a favor better your education.
We DID NOT have a surplus under Clinton it was projected based on the economy but the economy was already weakening by early 2000. The Great Depression was caused by the Fed. And FDR DID NOTHING to get us out of the Great Depression it went on for 10 years and until he released his strangle on business (so we could build for WWII) did the economy recover. Who had control of CONGRESS during savings and loans??? The Democrats. YOU'RE A F*CKING IDIOT!
That's funny, all the Democrats were blaming Bush for the recession by March of 2001, ALL the liberal pundits and politicians. Bush's tax cuts didn't go into effect until OCTOBER of 2001. That's 10 months dear.
I find it funny that the Democrats are now talking about extending those very tax cuts you guys like to blame. Hilarious!
I didnt say he caused the economy problems in 2001, that was the dot com bubble collapse, but his tax cuts didnt help the situation by the time it really crashed in 2002, at least not for the middle and lower class, and his war definitely didnt help matters either
That may not be what you said, but that's what Democrat pundits were saying at the time. Also, those tax cuts brought more revenue into the treasury, even John F. Kennedy new this principle to be true. The only problem has been that they OVER SPEND what the bring in. TAX CUTS are not the problem. Tax cuts INCREASE revenue, it just when the increase takes place our elected officials like to spend MORE THAN they bring in.
I forgot to ask did you get all your information from FOX. I thought so. Well, maybe you need to take some of that energy and do a little reading before you spout out things that are completely wrong. No way your blaming Clinton, dude you are really messed up. Do yourself a huge favor turn off FOX for at least a month then come back and tell me if you still think you know what your talking about.
Yeah we blame Bill Clinton we cite the legislation it's called CRA. Talk radio is your real enemy. You blaming Fox news shows you only watch TV, because liberals can't make it in radio.
Its going to prop up the banks you idiot. I guess you don't care if you loose that hard earned joe the plumber savings of yours. But you can always go to work for WalMart or maybe Joe Stevens needs his toilet repaired. Hell you could just live off the money you have saved that you were going to buy that company with. Oh sorry I forgot the dems took it over the last eight years. I see, well maybe you can run for VP. Can you see the unemployment office from your front door.
That money went EVERYWHERE including money so businesses could reimburse employees who ride a bike to work, and money to a company that makes wooden arrows. We wouldn't "need" that money if it wasn't for the changes Bill Clinton made to CRA. The Dems have been controlling Congress for the last two years. The Dems blocked regulation attempts on Fannie Mae in the Senate Banking committee in 2004. There's 3 branches of gov't moron, not just the executive, that's the problem with you liberals.
This is not true, I bought a house in 2001 and by 2006 All I heard on the radio was ARM 3-5 year as well as adjusted rates. This stuff was fling off the shelves and the American people bought it without reading the small print, I seen it coming. I work in the Telecommunications field and when we start to take a dip the market always follows, well it did and the market dropped and all them people got caught with bad risk management loans. They took the risk and got caught. I saw it coming, sorry
Fannie Mae and Freddie Mac don't originate mortages they only exist to buy mortages that were already written to free up money for the banks so they can continue to loan money. I have know idea where he came up with Clinton told them to lend money. Phil Graham wrote a bill to repeal regulation of banks that hold the publics money from making risky investments and giving risky loans. Clinton couldn't veto the bill. The Repulicans had to many votes. Don't take my word. Look it up on the internet.
BS! Bill Clinton willfully signed that bill because Democrats agreed to support that legislation after it went to a conference committee. He STILL could have vetoed it, they just would have overrode it.
It was originally 54-44 in the Senate then the DEMOCRATS got on board after their revisions and it passed 90-8.
I'm inclined to agree with you, but I stopped listening because you sound like a hysterical nut. Keep your passion, but take a breath and calm yourself. We'll get through this. :-)
its just his style. all his points are solid and they are entertaining at the same time. its funny. its not like he's like this 24/7 around his house and stuff.
This comment has received too many negative votesshow
Republicans are such idiots. (Politically anyway.) They want to blame Clinton and minorities for everything they do.
THE LAST LIBERAL LEGISLATION WAS ALMOST FORTY YEARS AGO, YOU MORONS.
There's this thing called ...the deficit. It is entirely the responsibility of the Republicans, along with the current credit crisis, the endless war in Iraq, and everything else.
Pork, keep in mind that Democrats and Republicans make up congress. While they may be in the majority, it does not necessarily mean it is all the Republicans fault. The Democrats still do have a say... that is why there is so much conflict and why it is tough to pass legislation. Two houses each with Dems and Repubs. Everyone is at fault here. Dems did damage, Repubs did damage. We just need to focus on getting out of it.
hey buddy, wake up. you don't want to accept the THE REASON BILL CLINTON GOT RID OF THE DEFICIT WAS BECAUSE ALL HE DID WAS HAVE SEX IN THE WHITE HOUSE SO HE DIDN'T SPEND ANY FRICKIN MONEY!!!!
So porky, tell me EXACTLY what "last liberal piece of Legislation" was signed 40 years ago? Until 1994 Democrats had controlled the House for 40 YEARS. So let's do some math here, we'll use 2008 since 2009 is so new: 2008-1994= 14 years. 40-14= 26 years. So for 26 YEARS DEMOCRATS DIDN'T MAKE A SINGLE PIECE OF LEGISLATION???
Heheh.I'm the toned down version of Bob minus the mistake he said about executive power^_^
One the side note,does anybody know that Bill Clinton's former budget adivsor, Franklin Raines, and current housing advisor to Obama was once the CEO of Fanny Mae?!? Good luck to Obama on the housing advice, he'll need it.
And yes Bill Clinton adminstration helped pave the way for the mess as they strenthened the bill (CRA) that would allow loans to be given to low income, small bussiness, who couldn't afford it.
Bob we are a National Socialistic nation now,thanks to Bush and his cronies. They have already given way over a trillion dollars to these thiefs with out the ok from Congress.And everyone is looking at the Bailout and they have already bailed out a bunch of Bankers!And the Derivatives is at 1.3 quadrillion!This bailout will finalize the end of America as we know it!.Look up Bill 51 They let Lehmans fall because most of the holdings were with Venezuela.
Part 2. As for Government. It's the Grand Illusion that there is a choice between "Government and "No Government". That's not the choice. There's always government. Something or somebody is always calling the shots or stand- ing in the way of calling the shots. You have a gov. that is not run by the people but by a group of Lobbyists who are really calling all the shots. They are telling you every day in every way your gov. is the problem. Your government is the solution - when it's YOU.
Part 1. I guess if you're really very emotional it must be true. The main problem with our government is that the kind of compromises it takes to get things done always mean there's two sets of hands on the wheel so despite the best of Democratic intentions, there is always a way for that other Republican hand to steer things into a ditch at the last moment. Than blame the guy in the drivers seat. This is the Rights big plan for Obama's Presidency.
What should be Next, Is to stop blaming the Democrats exclusively. Clinton deserves to shoulder some of the blame, but Bush has had TWO TERMS to fix the problem. Instead he has made the problem far worse.
Maybe it's time to stop the blame game and elect officals who will represent THE PEOPLE!
That's just it, during this campaign the liberal pinko left is blaming Bush and the Republicans for this mess. The repeal of the Glass Steagal Act and care free lending was a Democrat initiative. And by the way, the dems have had majority the last two years and what was done to help avoid this, NOTHING. It gets back to NO ACCOUNTABILITY, NO OWNERSHIP. You people that think Democrats at the federal level of government are for the common man, WAKE UP. They are all corrupt, Republicans too.
Poor fellow must have failed US Government in High School some called it Civics. No President can write a law. Only Congress can write laws. The president is part of the executive branch of government charged with Enforcing the laws that Congress writes. The President does have to authority to Veto a proposed law (called a Bill); but Congress can over write a Veto if they have enough votes.
"override", Bob. USA's executive branch does not directly enforce laws: more specifically, it appoints civil servants. The President's power is also to approve or return unsigned, not just veto.
Same circle happens. Hard working middle class takes it up the ass. The rich scam off the naive low income immigrants, and the rich get bailed out by their alumni chaps.
great video. everyone thinks bill was soooo great with economics but all he did was set the next, god knows how many, presidents up with a mess of HIS consequences.
Thanks to Bush-onomics, Amercia has now become the world's bitch. Americans have no money and the Government has to go to the Middle East to borrow money. Let's hope we don't have to ask Bin Laden's family for a small loan.
For those of you who voted for a Tax cut and Jesus, I guess you got your Tax cut. Let's hope Jesus shows up to help us out of this shit-hole.
The US is a one party system. The Bail Out is corruption, along with all the Freddie Mac Fannie Mae thing, you can't defend either party because they're culprits, they're buddies. The two parties are set up so the public can throw their emotions at elections without leading to any big change in policy. The income tax is stolen money 100%, it all goes to private banks to pay interest on loans unnecessarily, research. The real government is corporate. One party system.
Hilarious how he blames Clinton, as if he's forgotten that there's been someone else in the White House for 8 years who's done nothing about the credit issues in the US.
Sum pp say 'ther's a 5-dolar fine fur winin'" - i shud'nt hav to listne!!! y don't u stop takingsum pp shud hav their guns takin' away &their 'rite' to sppeck, and be loked up &beating u'r one of those bob kep drinking& take sum painkilers& prozac!!! u shud be stoned out of ur mine by now! y not u need it some pp just ned it and u'r 1!!!don tke drugs bob it messes u'r mind!!!
markbh70...looks like you need an education...GOOD GOD!!! I am suprised you can even get online let alone use a keyboard. Ibet your good with a stick and making fires, welcome back to the caveman days all, We should put you on display at the Smithsonion or in a circus...LIVE, MARK THE CAVEMAN!!!
calm the fuck down ass fuck!! whats next is a fuckin heartatack for you, you ignarant stupid fuckin republican asshole!!! give bill a break, he was the greatest president of all time. so go suck some stupid rep cock. couse thats what it sounds like your chokin on!! ps assfuck,stop makin an assfuck out of yourswlf.
LOL I actually laughed out loud at that. Read a US history book.
Second, when you start a response with "republican asshole", people pretty much know that you have an agenda and then everything you say turns to shit.
The Gramm-Leach-Bliley Act,an Act of the United States Congress which repealed part of the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.
Phil Gramm was the economic advisor to John McCain as recently as 2 months ago.True,Bill didn't veto this bill,but it was republican philosophy that killed our last bit of protection.
Yeah Bill Clinton is the one who SIGNED the Legislation for de-regulation! Who cares about BUSH's comments as cited from the NY SLimes, he's not the ONE who CREATED the Legislation! Democrats DID!
GRAMM-LEACH-BLILEY look at those names..not one of them democrat. Phil Gramm (the author of the bill) was in fact McCain's chose as his economic advisor. This bill was created by REPUBLICANS..get your facts straight on this bill's creation.
I know that. But see, it did pass in the Senate 90-8 and Republicans had a small majority in the Senate. That means a BUNCH of Democrats voted for it. You know why? Because they wanted more revisions to the CRA legislation that caused the bad loans to begin with!!! But here's the point: you asshats have been saying it's "THE BUSH POLICIES OF THE LAST 8 YEARS THAT'S THE PROBLEM". You've been blaming Bush for deregulation when it was BILL CLINTON that SIGNED the deregulation to begin with.
Ok, I don't know you nor do you know me, the comment "asshat" is way out of hand. Is this all you Republicans know? To try to out shout and call those who disagree with you names? And, let's not forget GW Bush's Ownership society. The hardcore fact remains, this whole financial mess has the bloody imprints of BOTH parties frankly. And, I'm not defending one over the other nor am I placing blame on one over the other, I'm a independent myself.
Don't give me this crap you're an independent, I love the old "I'm independent" line when you start nailing lefties on the past of Democrats. And it's so funny that the majority of what you reacted to was the word "asshat". All those facts and all you can focus on is the ONE little jab I put in there. BOTH parties, eh? You said "..but it was republican philosophy that killed our last bit of protection". Knowledge of the Galactic Senate doesn't mean you know what you're talking about.
You miss my meaning, I can argue with you all day on an intellectual basis and not have to resort to any jab. And, yes de-regulation is a republican philosophy..letting the free market fix itself is a republican ideology. However, Dems went against their own ideology due to being paid off by lobbyists..hence we saw the hypocrisy of the 1990s..and the further perversion of regulation (by GW Bush carrying out on what was set in motion) of 2000-2008 period.
Also what does George Bush's "Ownership" Society have to do with it? His Ownership Society DID NOT create the Community Re-Investment ACT! His Ownership Ship Society obviously is based on self reliance, which is NOT what caused this financial mess. Government intervention created by Democrats via the Community Re-investment act is what caused this. DEMOCRAT Philosophy is what caused this. ELIMINATE GLB-ACT and the BANK WOULD STILL HAVE HAD A LOAN PROBLEM!
Here's what the ownership society had to do with this financial mess. Google this article: BUSH ADMINISTRATION ANNOUNCES NEW HUD "ZERO DOWN PAYMENT" MORTGAGE and this: G.W. Bush on the Housing Boom - Oct. 2002. Frankly, those articles are self-explanatory. You still stress ONLY DEMS did this, I still stress BOTH parties had a hand..sorry you're not going to change my mind. I want to get rid of both corrupt lobby pay-rolled parties.
Actually that's not GWB ownership society, that caused him to be on board with this. It was his "Compassionate Conservatism" tone. That was his problem and people who think Bush was a real Domestic conservative don't understand. Gram-Leach-Bliley which what you blame, doesn't make any of this possible, it only allows those loans to be "repackaged" and sold to wallsreet. Bush didn't create CRA, Bush didn't sign CRA or it's revisions, he did inherit it and went along with it for a while.
CRA: compels banks to make loans to low-income earners and in what the supporters of the Act call communities of color that they might not otherwise make based on purely economic criteria. These organizations, such as "ACORN", claim that over $1 trillion in CRA loans have been made. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA protest is issued by a community group.
And the Legislation that I'm citing that Democrats CREATED was the Community Reinvestment Act. That is the problem. Eliminate that act, and the bad loans NEVER make it to Wall Street BECAUSE THERE ARE NO BAD LOANS TO BE TAKEN TO WALL STREET.
I have an exact title for you : "Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis." It's a long one, but copy and paste does not discriminate.
Meh no need to copy and paste I'm sure any can track down various articles just by its title. As for CRA, google this article: What is the Community Reinvestment Act (CRA)? Basic point of the article, and by all means take what you want from it, but it's not a "mortgage" law..this according to lawyers. Now, maybe to some right wing opinion talk show hosts it was.I think you and I are different in our approaches to research, I actually use sources from both sides of the aisle (saw "Shocking..).
If CRA is not the problem then why are you citing a video about Bush's comments from 2002? Those comments he made were about results and goals not POSSIBLE without the CRA. NOT GLB!! GLB is what led these loans to Wall STreet. Bush was on board with minority loans until 2004.
Yeah I have Googled CRA. So many links show up. Hmm.. I'm wondering which link you clicked on? Who wrote the article? Do tell. You can't have BAD LOANS without CRA!
You know I can go back and forth with you citing articles ( I don't think youtube allows links and I followed your example by submitting titles to google). Let's face it, we're beating a dead horse, it's impossible for either of us to come to an agreement apparently we're equally stubborn in our views. So I'll leave you with one question. How does this blame game help our current situation one iota?
Again your title brought up many links. You seem like a reasonable guy. I've been hearing cookie-cutter responses aimed at Republicans for months now on this subject and I'm telling you it's more the Democrats fault. Am I happy with Republicans involvement? No! In fact I tested as a conservative Libertarian. Republicans preach fiscal conservatism then at like Democrat-light, aka pre-1972 Democrats. I have one more response then I'm done....
Here's the thing about Gramm Leach Bliley. Do you know why Democrats finally agreed to it? They agreed to it because they were able to make sure that institutions that benefited from GLB were REQUIRED to go under a CRA(Community Re-investment Act) INSPECTION. And if those institutions wanted to EXPAND their services under the GLB they were required to have a satisfactory CRA RATING.
almost done.... In other words: Those institutions had to be in compliance with ISSUING BAD LOANS in order to benefit from GLB. Please research this part of GLB. That is why they voted against it, then voted for it because they were able to still hook the banks with CRA requirements.
Ok to use your own words, this mess started with CRA got some additional teeth with the GLB, GWB went along with it and now here we are. Dems are more responsible, because they held out an ammendment to GLB (I'll check)in its relation to the CRA. Even assuming I agreed with you 100%, this now sounds like you too blame both parties, just Dems slightly more. Here's were we differ I place blame slightly more on the republicans due to the timing of the bubble bursting, yet I too blame both parties.
Frankly, these little boxes are just too small to make a reasonable response imo. Anyway, I'll admit you make a strong argument when you further back it up with some research and thanks for at least trying to check my supplied info. I'll give you the same respect in this regard and check this GLB ammendment if I can find the link. So, you are apparently more to the right of myself..coming from that perspective what do you suggest we do to get out of this mess?
"what do you suggest we do to get out of this mess"? Well, in a perfect world?
Replace 95% of law makers of both parties, with Libertarians so they can break down gov't some-- Social differences can be put on hold for economic freedom. Cut capital gains tax, stop spending so much money. Go to the fair tax. Drill for oil so Opec can't manipulate prices by cutting back. Repeal CRA. Issue loans based on merit. Remove the provision that allowed Fannie and others to repackage the loans etc.
But that's been my point with the timing of the bubble bursting. That's what that whole Fannie Mae video shows. Do I agree with the fix Republican proposed? No! They wanted to place a regulation on a institution that was thriving in business based on a regulation. Eventually those proposed NEW regulators could have been bribed I believe(?) that video is of the Senate banking committee- the group responsible for regulation of Fannie Mae in the first place, that's where Barney Frank comes in.
Anyone who says "grow up" I just can't take seriously. "your side", fuck you sound like the country is at war with each other. Clinton signed it in moron...
As a independent voter, former democrat, I started to read what the liberals hate about Bush, but the stuff I was reading was so riddled with lies, I lost all respect for most liberals. Do they even know how to tell the truth. " sigh"
Gergis, first of all, illegals shouldn't be sponging off my tax dollars. ( the goverment; which doesn't have any money; only money they've collected from taxpayers )
Second, what ta hell? 95% of those that have mortgages are paying them on time and doing fine.
Liberal, yeah, deregulation did begin under clinton's watch.
One surplus year, which had to be adjusted down and all others were projections, which recession wiped out. Clinton was not the problem, not the solution either. F & F were creations of Congress. The Chief architects were Sen Barney Frank & Sen Dodd. Any opposition to the current rules have been demonized as racist. For 18 years proven analysts, regulators, Bush, McCain said finance needed reform. CONGRESS DID NOTHING, And that is Bushes fault? No wonder democrats are winning in the polls.
wow get a grip! Clinton? We had a surplus and Bush and his buddies deregulated everything. Think what would have happened if Bush had gotten his way and had Social Seciurity privatized..Get a grip pal!
Of course you're right, free money to...and get this...the majority of defaults are so-called minorities.
Let's see.. the politically correct liberals ( goverment backed loans )backing loans to non paying minorities to buy votes. Yeah, and guess who gets stuck with the bill?
Yeah you, you sap, you and your children, grandchildren and great grandchildren.
Here's a monkey wrench for your theory. TIN loans (no social security numberloans)have performed better than all others. Looks like illegals like pay their mortgages.
We had a surplus when Clinton left, which means extra money you, dumb redneck communist. Stop blaming Clinton for 9/11 are f*in stupid, Bush was delivered the doc, he went on vacation, failed America! The No.1 job of the president is to protect America he failed and you dumb communist re-elected him. This is the hell all u bible freaks asked for, here it is!
When Bill Clinton left as president our country was in the best position it ever had been in US History, you dumb f*ing idiot stop listening to Rush, he's worse than gangsta rap,
This is what happens when republicans are in charge! They fail us fully, while no one pays any taxes or assumes responsibility for being American. This why republicans are communist scumbags.
Republicans are communists, opposed anything social, don't want to pay taxes. All your dumb left wing B.S. lies it's not about left or right, republican or democrat it's about America. Republicans are not Americans they are communists. Kill the Republican ideology its counterproductive to being American.
The fact of the matter is that many of the defaulted purchases were made by investors, that is individuals who purchased homes that they never lived in. You cann't blame this problem on minorites, oh I forgot, it's the American way! Evan on the Inside Washington show said it best yesterday: Americans have behaving as if the laws of God and nature have been suspended. You my friend are guilty too!
need to calm down. Were you as vocal when neighborhoods were redlined and black Americans could not purchase homes that they could afford? Have you had your lithium level checked lately? If not, you should...!
Republicans don't believe in paying their debts. This matter reaches back to Ronald Reagan and his green mail, leveraged-buyouts trickle-down philosophy, a philosophy that Bush has followed. Now there is a lien on the White House, it will soon be reposessed. Away with Republicanism, Reganism and the typical Republican blame game! Next Republicans will be blaming Obama for the fiasco. Oops, John McCain already did! Bush reverses Clinton policies that he did not like - why not this one?
Bush has had 8 years to do whatever he wanted to do, his ideas clearly havent worked and your country is now in a mess. Get over it and stop blaming other people.
The Republicans are for less regulation and a more free market. Here's your result. Even the Republicans admits they were wrong. The market might crash harder than since '29.
I completely agree with you but the problem is you can kick them out of their houses but they still dont have the money and the banks still wont get their money. What where seeing here is the reverse trickle down effect. The banks lent out money to the poor the poor lost their ability to pay back their loans and now the loan sharks are out of their cash but what you are forgetting is in this country if you are a multi - million dollar corporation then good ol uncle sam whipes your butt for ya.
toncuz wake up!...He has the facts! I have been in Financial services for 30 years...what do you do for a living? Probably backing up to a Government paycheck! Even your jobs are at risk now!
You, I think you do have a point. Have you looked to see whose campaigns Fanne Mae and Freddie Mac have contributed to, the most, these last few years. That's all pretty interesty as well.
Thanks for standing up for your beliefs and using your free speech.
I blame Clinton as well and agree that Bush should have seen this, though.
What a stupid ignorant buffoon. Still blaming Clinton for twenty years of conservative Republican deregulation. A Republican congress for 14 years with 8 years of Republican White House and these half-wits think Clinton "dictated" to all those Repub crony banker contributors. This white trash fool is dumber than Bush.
I DIDN'T SAY THAT! I was responding to Bob blaming "democrats" THERE are NO more republicans or democrats. There are only elite. Look at Ron Paul, he calls himself a true Republican and he stands alone! What does that tell you of these titles? They mean nothing. There's only elite global megalomaniacs, a dissolving middle class and a majority of poor people. This is America, stop dividing us. There are 2 real parties: good & evil and even if you're an atheist you can figure out what evil is.
Much of what you say is true, but your delivery - yelling, screaming - sure is a turn off. I feel more people would believe what you say if you didn't sound so crazy. Yes, the economic problems aren't Bush's - they are a legacy from Clinton, among other problems, but most people don't read/listen with wisdom and discernment and in depth. And let's all remember, Clinton was the one who didn't do anything with the terrorist when HE had the opportunity. Read your history better!
Wow Bob! Did you see the other comments posted here? The ignorance of these people is astounding! It's these same people that will gleefully try to put Obama in office. Scary! Our nation has become a country that lives beyond their means and wants us to foot the bill. This is the biggest scam ever to have been perpetrated on the American public and they don't even realize it! Mr and Mrs Obama talk about the American dream of their parents. If it is so great , why are they destroying it???
Comrade, this country has embraced interventional capitalism for quite some time. We just hate to admit it. Of course, this most recent episode of Freddie/Fannie just confirms that point.
the problem is......bush and clinton dont give a rats ass about homes or real estate....that's just a plan to get peoples minds off of what really interests our political leaders pocket books...and that's oil....period....hell yea middle class people, who actually have money and savings, should have all the nice homes and shit, and people who simply dont have money need to get the hell out of their homes, but we're slowly becoming a planned economy..like russia...nigga please..get a clue america
Bill Clinton AND Bush were in on it as if they are both puppets. Niether of them admitted that the economy stopped growing for the majority which they should have. This is just a cheap shot at Democrats? No this is a let's place blame all over the place except where it belongs. Businessz are going to maintain with no growth while AMerica's population is going to explode. Bush said the economy was growing which it has not been. Obama the fallguy, America the fooled.
Exactly, a growth-centered economy worked in the past...The question is always there though, once you've grown to the size of your surroundings, what do you think is going to happen when you try to keep growing? Seems pretty obvious, but no one even talks about this on the news. WE HAVE TO FORGET ABOUT AN ENDLESS GROWTH ECONOMY!
@SuperCrazyman54 Non man that is funny as shit :D
igottogether 5 months ago
Squidwards: People talk loud when they want to act Smart right?
Bob: CORRECT!!!
igottogether 6 months ago
KILL BILL!
tether37 6 months ago
Bill Clinton = Most overrated president ever!!!
sanjacraven36 9 months ago
When the Dumb-ol-Crats won House control in '06, THAT is when the Sh_t hit the fan, and Bush was rebuffed at every turn to regulate these Housing entities. Obama's good buddy, Franklin Raines, bilked & milked a severance pkg. bonus of $90 MILLION to leave Fannie!!!! Prison would be where we all would be had we done what he did, and what the Dumb-ol-Crats did in ignoring the crisis. SH_T hit the fan right after the time the "D's" took control in '06. That is FACT. No disputing the chronology.
BigBingFan 1 year ago
One comment: Pres. Bush DID send Treas.Sec.Snow up to Capitol Hill (it's verified true on YouTube) trying to "clamp down" on Fannie and Freddie, or as Snow stated, "we face a severe crisis by not tightening regulations" (on Fannie/Freddie). George W. sent his Treas.Sec'y 3 times to Capitol Hill, but was rebuffed by Maxine Waters, Kendrick Meek, Barney Frank & Christopher Dodd--all inept or corrupt! Questioning Franklin Raines, Obama's Fannie CEO buddy, was tantamount to "racism," per Maxine.
BigBingFan 1 year ago
President Clinton is one of the greatest world leaders. And this video is evidence that the blame card is put on Clinton more than any other president. Let me ask you this: why are we still blaming a president who left office NINE FUCKING YEARS AGO? We had a billion dollar surplus by the time his term ended, which were pissed away through tax cuts for the rich. (Tax cuts cost money, too, neocons- it's simple economics.) Clinton had absolutely NOTHING to do with the recession, blame the BANKS
VoiceHunter 1 year ago
@VoiceHunter how do you get a surplus??? RAISE TAXES!!! oh but they were taxes on the rich you say?? yes! and everybody else! he raised the corporate taxes!! only large businesses are not as affected by that, the small business are! and middle class IS SMALL BUSINESS. clinton and democrats had nothing to do w/ Fannie and Freddie??? your a fuckin tard
mauicletus 1 year ago
@mauicletus I'M the tard? You don't even know how to type correctly. And you don't know shit about Clinton's economic policies. He gave tax cuts so large, the government would actually pay you money and give you the tools to get on your feet if you were in poverty. Stop believing everything Rush Limbaugh tells you.
VoiceHunter 1 year ago
@VoiceHunter <---- definition of ignorance. tax cuts so LARGE????? WTF? how about YOU STOP BELIEVING WHAT LIBERALS TELL YOU! since they obviously dont have your best interest in mind, if they did, they WOULD SUPPORT MISSLE DEFENSE, but they dont, because you are a pawn to be bartered
mauicletus 1 year ago 2
@VoiceHunter. I'm a Liberal Progressive (registered Independent) & part of what this guy is saying is true. Clinton signed into law in Nov 1999 "The Financial Services Modernization Act". which removed the separation between the banks Wall St. It also allowed 4 the derivatives 2B traded which allowed banks 2 package these poorly underwritten loans & sell them to Wall St. Once these loans started defaulting, it took our financial sys down w/it in Sept of 2007. It was voted on by Dems & Repubs
JSAautomotive 1 year ago
@JSAautomotive
yep, it was both dems AND repubs. and repubs had control of the senate and house.....
splendid1000 1 year ago
@VoiceHunter. Although, I would agree w/u on the blame game thing. Obama has every right 2 blame Bush re:the current status of the economy. When u have an economy that was f-ed up as badly as Bush F-ed things up, it takes a while 2 recover. Just like it did when Clinton took over Bush Sr's economy. But 2 blame Clinton 4 the deregulation that Bush had 6 years 2 fix? Um. Thats a little hard to swallow. But thats what all the right wing talkers are doing right now. They blame the Dems & Visa versa
JSAautomotive 1 year ago
Somehow I think explaining to you How any why FNM, FRE work and why they are government back would be futile. I think also that explaining that they are simply reinsurance companies (not primary lenders) whould not make much sense to you. In addition, the banks were not forced to lend to anyone, They simply couldnt discriminate against certain areas if all other matters were equal. I doubt that reason and fact would really do much good here.
dac8555 1 year ago
you son of the B if these houses hasn't been built and bought by the irresponsible, then $200 Billions would be used on the National High speed rail project for America but thanks for the idiot people..
sideslide23 1 year ago
You're an idiot Bob and your paranoia shows it. The low income loans were less than.01% of the money used for the bailout. The derivative market is what dropped us to our knees. I guess you forgot about how McCains campaign manager belonged to the Home Ownership Alliance,which defended Freddie Mac and Fannie Mae against stricter regulations paying him over $2 Million. What did they get for their money? Access to John McCain.
beachnative420 1 year ago
I guess you forgot about how McCains campaign manager belonged to the Home Ownership Alliance,which defended Freddie Mac and Fannie Mae against stricter regulations paying him over $2 Million. What did they get for their money? Access to John McCain.
beachnative420 1 year ago
This has been flagged as spam show
The best idea is to DISMANTLE both Fannie and Freddie. The idea of both of these companies is to inject liquidity into the mortgage markets, by freeing banks capital which would otherwise be tied up in the loans if it were not for F&F buying. The problem is when F&F get burned, the government gets burned. Also, I am sure banks are a lot less careful doing their underwriting due to the fact that F&F are going to soon be taking the stinky paper off thier hands, Will F&F ever die, oink oink, never.
tickyul 2 years ago
hey clinton fixed bushs dads mess and made us a great country what messes everyone had money then until that dumb fucking cowboy came in and who cares that bill was with a girl in office who gives to fuck every 18 year old boy now adays sleeps with 3 girls a week so there and girls now adays a whores
Zaku493 2 years ago
The sad part are the student loans. Millions of people can not even clear them with barnkruptcy.
I remember working on capmus one summer, repairing items in the dorms, when a charter bus dropped off 40freshman "students" who needed to get ready for "college". in June.
I asked my boss who they were and he said, and I quote "the end".
dvr123us 2 years ago
Bob should start a fundraiser thing call the something patrioticlike, like the fundraiser for America or something, and then he should make a serious run for president next election. History shows that its usually the guy that spends the most that wins the election. His rants make since to people, and I think he could have a serious shot, hell I'd vote for him
VonDelacroix 2 years ago 2
@VonDelacroix
cuz u are a moron
splendid1000 1 year ago
@splendid1000 yes, Im a moron for wishing to vote for someone that actually speaks his mind and is at least somewhat sane, over the stupid retards in office right now, because they are doing a crackerjack job, right. wouldnt matter anyway, as I said, if he had more money than the person he'd run against, which is probably impossible because of all the money those jokers take from bribes, than statistically, he would win.
VonDelacroix 1 year ago
@VonDelacroix
i dont like any of them either, but i wouldnt vote a moron like Bob in
splendid1000 1 year ago
@splendid1000 a new moron is better than the old morons, he would at least make watching the presidential address interesting, lol
VonDelacroix 1 year ago
BOB FOR PRESIDENT!!!!!!
Tyberious123 2 years ago 11
Oh man I thought Freddie Mac was hilarious in Friday and in Ocean's 11! Too bad the funny ones always go first. Speaking of going first, I saw another video with this guy and he said when it comes to a gay interracial gangbang, he ALWAYS goes first!!!
mrpickles5150420 2 years ago
WHO WANTS SLOPPY SECONDS.
ericwatters1 2 years ago
bush and clinton and obama suck my dick
michaeltheman8888 2 years ago
lol george bush wasn't cleaning up the mess, he was in on it all. help either party and you lose.
suiseisekisquash 2 years ago 4
FDR LBJ BC
SteveOSpielberg 2 years ago
you're awesome man
straightedgemike570 2 years ago 2
try 2.7 trill
napalmcoffee 3 years ago
This comment has received too many negative votes show
what sucks, ill tell u what sucks YOU get a life
XxFAmUzPhantomXxX360 3 years ago
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EgoSumIndigentia 2 years ago
This comment has received too many negative votes show
this guy is so annoying
charlottewww 3 years ago
Comment removed
EgoSumIndigentia 2 years ago
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FUCK THIS COUNTRY RATE ME UP BITCH
wowdegree 3 years ago
good comment. you express an opinion that is well within your rights as a American Citizen. WE'LL BE THERE FOR YOU WHEN YOU NEED US! and you will...by the way...i have a BS, work in for the gov't and have a business on the side. pull yourself up by your boot-straps and suck it up kiddo! it's tough out here...don't be pissed off...it's hard talk.
goldendoomer 3 years ago
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EgoSumIndigentia 2 years ago
Id say this is a brain on drugs but youd first need to believe it has a brain. I dont think thats even possible. I guess you forgot that under Clinto we had a surplus. I guess you forgot that the last three so called bail outs were under Rebublicans. The great depres the savings and loans and now the greatest of all world bailout. Do you have any idea how stupid you sound. Sorry dude but you are so frekin wrong on everything you seen to think is real. Do yourself a favor better your education.
CAJUNNSC 3 years ago
We DID NOT have a surplus under Clinton it was projected based on the economy but the economy was already weakening by early 2000. The Great Depression was caused by the Fed. And FDR DID NOTHING to get us out of the Great Depression it went on for 10 years and until he released his strangle on business (so we could build for WWII) did the economy recover. Who had control of CONGRESS during savings and loans??? The Democrats. YOU'RE A F*CKING IDIOT!
bootyraider 3 years ago
@bootyraider
yah and did Clinton cause the weakening in 2000? Nope. We recovered from that within 6 months anyway, Up until Bush's tax cuts and pointless war
splendid1000 1 year ago
@splendid1000
That's funny, all the Democrats were blaming Bush for the recession by March of 2001, ALL the liberal pundits and politicians. Bush's tax cuts didn't go into effect until OCTOBER of 2001. That's 10 months dear.
I find it funny that the Democrats are now talking about extending those very tax cuts you guys like to blame. Hilarious!
bootyraider 1 year ago 2
I didnt say he caused the economy problems in 2001, that was the dot com bubble collapse, but his tax cuts didnt help the situation by the time it really crashed in 2002, at least not for the middle and lower class, and his war definitely didnt help matters either
splendid1000 1 year ago
@splendid1000
That may not be what you said, but that's what Democrat pundits were saying at the time. Also, those tax cuts brought more revenue into the treasury, even John F. Kennedy new this principle to be true. The only problem has been that they OVER SPEND what the bring in. TAX CUTS are not the problem. Tax cuts INCREASE revenue, it just when the increase takes place our elected officials like to spend MORE THAN they bring in.
Sorry for the caps, but I like to emphasize.
bootyraider 1 year ago
I forgot to ask did you get all your information from FOX. I thought so. Well, maybe you need to take some of that energy and do a little reading before you spout out things that are completely wrong. No way your blaming Clinton, dude you are really messed up. Do yourself a huge favor turn off FOX for at least a month then come back and tell me if you still think you know what your talking about.
CAJUNNSC 3 years ago
Thats what Republicans do best. Blame the Democrats and not own up for their own mistakes.
WakeUpDreamers77 3 years ago
Republicans didn't write CRA.
Republicans didn't filibuster oil drilling.
Republicans didn't run Fannie Mae and the Senate Banking Committee.
Republicans didn't block regulation on Fannie Mae in 2004 the Democrats did.
bootyraider 3 years ago
@bootyraider
Wrong. They all did.
splendid1000 1 year ago
@splendid1000
" Wrong. They all did."
They all did what?
bootyraider 1 year ago
Yeah we blame Bill Clinton we cite the legislation it's called CRA. Talk radio is your real enemy. You blaming Fox news shows you only watch TV, because liberals can't make it in radio.
bootyraider 3 years ago
Its going to prop up the banks you idiot. I guess you don't care if you loose that hard earned joe the plumber savings of yours. But you can always go to work for WalMart or maybe Joe Stevens needs his toilet repaired. Hell you could just live off the money you have saved that you were going to buy that company with. Oh sorry I forgot the dems took it over the last eight years. I see, well maybe you can run for VP. Can you see the unemployment office from your front door.
CAJUNNSC 3 years ago
That money went EVERYWHERE including money so businesses could reimburse employees who ride a bike to work, and money to a company that makes wooden arrows. We wouldn't "need" that money if it wasn't for the changes Bill Clinton made to CRA. The Dems have been controlling Congress for the last two years. The Dems blocked regulation attempts on Fannie Mae in the Senate Banking committee in 2004. There's 3 branches of gov't moron, not just the executive, that's the problem with you liberals.
bootyraider 3 years ago
Also too, we allowed banks to FAIL during the early 80's and we survived.
bootyraider 3 years ago
Buyer beware! If it sounds to good it probably is! Sound familiar?
James1toknow 3 years ago
This is not true, I bought a house in 2001 and by 2006 All I heard on the radio was ARM 3-5 year as well as adjusted rates. This stuff was fling off the shelves and the American people bought it without reading the small print, I seen it coming. I work in the Telecommunications field and when we start to take a dip the market always follows, well it did and the market dropped and all them people got caught with bad risk management loans. They took the risk and got caught. I saw it coming, sorry
James1toknow 3 years ago
drink sperm with bob
tonmagicwon 3 years ago
I'd like to see this guy debate Obama or Pelosi or Barney Frank, that would be not only be comic gold, but they would get destroyed
wolfgang2570 3 years ago 11
@wolfgang2570
LOL are u serious? That may be the funniest thing i've read all day
splendid1000 1 year ago
Anyone know where the video is of how Clinton's sub prime mortgages aproval caused part of the problem we are having?
WaterGardenVista 3 years ago
Fannie Mae and Freddie Mac don't originate mortages they only exist to buy mortages that were already written to free up money for the banks so they can continue to loan money. I have know idea where he came up with Clinton told them to lend money. Phil Graham wrote a bill to repeal regulation of banks that hold the publics money from making risky investments and giving risky loans. Clinton couldn't veto the bill. The Repulicans had to many votes. Don't take my word. Look it up on the internet.
mikebuhroo 3 years ago
BS! Bill Clinton willfully signed that bill because Democrats agreed to support that legislation after it went to a conference committee. He STILL could have vetoed it, they just would have overrode it.
It was originally 54-44 in the Senate then the DEMOCRATS got on board after their revisions and it passed 90-8.
bootyraider 3 years ago
Hmmm not sure Bob!
chopwallace55 3 years ago
I like how he has a little orgasim at the end of his rants
slogans84 3 years ago
i'm not a fan of republicans, and definitely not a fan of democrat bashers. but this guy makes for some quality youtubing.
heyhonobodyhome 3 years ago 2
dude you gotta chill or youll have a heart attack
kirk903 3 years ago
I'm inclined to agree with you, but I stopped listening because you sound like a hysterical nut. Keep your passion, but take a breath and calm yourself. We'll get through this. :-)
God bless.
crispiegee1 3 years ago
its just his style. all his points are solid and they are entertaining at the same time. its funny. its not like he's like this 24/7 around his house and stuff.
blues3531 3 years ago
u r so right
rge25 3 years ago
Awesome. Too bad you're falling on dem deaf ears :(
BlackhawkFitness 3 years ago 4
This is an economic DEMbacle.
eksdem 3 years ago
anyone remembers banks in across/rural us went broke epidemically.
any idea about what to do in such case to cure that?
Realizalize 3 years ago
Preach it Bob!
justinkeithmorgan 3 years ago 2
This comment has received too many negative votes show
Dude you should find your self a girl friend with a blue dress. Or is it a boyfriend?.
artebello1000 3 years ago
suck a dick
crnnrc 3 years ago
This comment has received too many negative votes show
Republicans are such idiots. (Politically anyway.) They want to blame Clinton and minorities for everything they do.
THE LAST LIBERAL LEGISLATION WAS ALMOST FORTY YEARS AGO, YOU MORONS.
There's this thing called ...the deficit. It is entirely the responsibility of the Republicans, along with the current credit crisis, the endless war in Iraq, and everything else.
Republicans are morons. Pass it on.
porkpie24 3 years ago
Pork, keep in mind that Democrats and Republicans make up congress. While they may be in the majority, it does not necessarily mean it is all the Republicans fault. The Democrats still do have a say... that is why there is so much conflict and why it is tough to pass legislation. Two houses each with Dems and Repubs. Everyone is at fault here. Dems did damage, Repubs did damage. We just need to focus on getting out of it.
Aaron023 3 years ago
"While they may be in the majority, it does not necessarily mean it is all the Republicans fault."
------------------------------------------- Republicans haven't been the majority since 2006.
bootyraider 3 years ago
hey buddy, wake up. you don't want to accept the THE REASON BILL CLINTON GOT RID OF THE DEFICIT WAS BECAUSE ALL HE DID WAS HAVE SEX IN THE WHITE HOUSE SO HE DIDN'T SPEND ANY FRICKIN MONEY!!!!
walrus12831 3 years ago
So porky, tell me EXACTLY what "last liberal piece of Legislation" was signed 40 years ago? Until 1994 Democrats had controlled the House for 40 YEARS. So let's do some math here, we'll use 2008 since 2009 is so new: 2008-1994= 14 years. 40-14= 26 years. So for 26 YEARS DEMOCRATS DIDN'T MAKE A SINGLE PIECE OF LEGISLATION???
bootyraider 3 years ago
Heheh.I'm the toned down version of Bob minus the mistake he said about executive power^_^
One the side note,does anybody know that Bill Clinton's former budget adivsor, Franklin Raines, and current housing advisor to Obama was once the CEO of Fanny Mae?!? Good luck to Obama on the housing advice, he'll need it.
rao007 3 years ago
And yes Bill Clinton adminstration helped pave the way for the mess as they strenthened the bill (CRA) that would allow loans to be given to low income, small bussiness, who couldn't afford it.
rao007 3 years ago
lonely idiot. get a life dude!!!!!!!!!
uffffffffffffffffffffffffffffffffffffffffffffffff
badasssnipe 3 years ago
Bob we are a National Socialistic nation now,thanks to Bush and his cronies. They have already given way over a trillion dollars to these thiefs with out the ok from Congress.And everyone is looking at the Bailout and they have already bailed out a bunch of Bankers!And the Derivatives is at 1.3 quadrillion!This bailout will finalize the end of America as we know it!.Look up Bill 51 They let Lehmans fall because most of the holdings were with Venezuela.
bludrums 3 years ago
Angelformehere 3 years ago
Angelformehere 3 years ago
What should be Next, Is to stop blaming the Democrats exclusively. Clinton deserves to shoulder some of the blame, but Bush has had TWO TERMS to fix the problem. Instead he has made the problem far worse.
Maybe it's time to stop the blame game and elect officals who will represent THE PEOPLE!
red05hemi 3 years ago
That's just it, during this campaign the liberal pinko left is blaming Bush and the Republicans for this mess. The repeal of the Glass Steagal Act and care free lending was a Democrat initiative. And by the way, the dems have had majority the last two years and what was done to help avoid this, NOTHING. It gets back to NO ACCOUNTABILITY, NO OWNERSHIP. You people that think Democrats at the federal level of government are for the common man, WAKE UP. They are all corrupt, Republicans too.
JScott1266 3 years ago
Poor fellow must have failed US Government in High School some called it Civics. No President can write a law. Only Congress can write laws. The president is part of the executive branch of government charged with Enforcing the laws that Congress writes. The President does have to authority to Veto a proposed law (called a Bill); but Congress can over write a Veto if they have enough votes.
Oh, and quit screaming!
Bob
bobgroome411 3 years ago
"override", Bob. USA's executive branch does not directly enforce laws: more specifically, it appoints civil servants. The President's power is also to approve or return unsigned, not just veto.
HighestRank 3 years ago
BOB FOR PRESIDENT
BridgetLex 3 years ago 2
Same circle happens. Hard working middle class takes it up the ass. The rich scam off the naive low income immigrants, and the rich get bailed out by their alumni chaps.
KineticFrenetic 3 years ago
great video. everyone thinks bill was soooo great with economics but all he did was set the next, god knows how many, presidents up with a mess of HIS consequences.
rightwingnutjob999 3 years ago
Thanks to Bush-onomics, Amercia has now become the world's bitch. Americans have no money and the Government has to go to the Middle East to borrow money. Let's hope we don't have to ask Bin Laden's family for a small loan.
For those of you who voted for a Tax cut and Jesus, I guess you got your Tax cut. Let's hope Jesus shows up to help us out of this shit-hole.
The Clinton blow job does not so bad after all.
Just wish we could give Bush 4 more years.
kuskut 3 years ago
another non-comment here.
The US is a one party system. The Bail Out is corruption, along with all the Freddie Mac Fannie Mae thing, you can't defend either party because they're culprits, they're buddies. The two parties are set up so the public can throw their emotions at elections without leading to any big change in policy. The income tax is stolen money 100%, it all goes to private banks to pay interest on loans unnecessarily, research. The real government is corporate. One party system.
Minimoy 3 years ago
Hilarious how he blames Clinton, as if he's forgotten that there's been someone else in the White House for 8 years who's done nothing about the credit issues in the US.
Moddejunk 3 years ago
uhh.... he has approached congress many times on the issue. But congress never listened.
silvercondouloboy06 3 years ago
bil Clinton shud hv kiled u too!!!
Tat's wu's nst!
TX bob!!!
kept up the good work!! ;)
Sum pp say 'ther's a 5-dolar fine fur winin'" - i shud'nt hav to listne!!! y don't u stop takingsum pp shud hav their guns takin' away &their 'rite' to sppeck, and be loked up &beating u'r one of those bob kep drinking& take sum painkilers& prozac!!! u shud be stoned out of ur mine by now! y not u need it some pp just ned it and u'r 1!!!don tke drugs bob it messes u'r mind!!!
MarkBH70 3 years ago
markbh70...looks like you need an education...GOOD GOD!!! I am suprised you can even get online let alone use a keyboard. Ibet your good with a stick and making fires, welcome back to the caveman days all, We should put you on display at the Smithsonion or in a circus...LIVE, MARK THE CAVEMAN!!!
hkct45 3 years ago
this should be called
crystalmethwithbob
Otkenpilot 3 years ago
lol!
totally awesome breakdown.
and now socialized health care proposed amongst other rapings of my tax dollars.
gross me out dems.
AlpondrickTheGreat 3 years ago
Fucking amazing.
burninginfo 3 years ago
calm the fuck down ass fuck!! whats next is a fuckin heartatack for you, you ignarant stupid fuckin republican asshole!!! give bill a break, he was the greatest president of all time. so go suck some stupid rep cock. couse thats what it sounds like your chokin on!! ps assfuck,stop makin an assfuck out of yourswlf.
spthart 3 years ago
"greatest president of all time"?
LOL I actually laughed out loud at that. Read a US history book.
Second, when you start a response with "republican asshole", people pretty much know that you have an agenda and then everything you say turns to shit.
ViN86 3 years ago
Republicans aren't ignorant, that's the liberals bashing that into your skull.
I had a liberal history teacher last year, and he was always talking about how republicans are ignorant.
My dad beat his ass in a debate, the teacher kept changing the subject because he didn't have the facts.
Listen you're a sheep, and a kool-aid drinker.
brethalion332 3 years ago
Fact:
The Gramm-Leach-Bliley Act,an Act of the United States Congress which repealed part of the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.
Phil Gramm was the economic advisor to John McCain as recently as 2 months ago.True,Bill didn't veto this bill,but it was republican philosophy that killed our last bit of protection.
clonedjedime 3 years ago
FACT: BILL CLINTON SIGNED THE GRAMM-LEACH-BLILEY ACT!
Since you guys are about blaming Presidents we can blame Clinton for signing that piece of Legislation!
bootyraider 3 years ago
Oh really? Check out GW Bush in 2002 when he talked about Fannie Mae and Minority Home Owners! Do a little bit more research next time.
It's de-regulation that led to this mess. Afterall there is no chicken with out the egg.
I don't we're allowed to list links..but here's how you find the video: The exact title is: "economic crisis president bush mortgage speech"
posted by: twit273.
Seriously, do yourself a favor and check that out. I'm curious as to your answer.
clonedjedime 3 years ago
Clinton is the one who is responsible for deregulation. You do your research clonedjedime.
boohoojew 3 years ago
Yeah Bill Clinton is the one who SIGNED the Legislation for de-regulation! Who cares about BUSH's comments as cited from the NY SLimes, he's not the ONE who CREATED the Legislation! Democrats DID!
bootyraider 3 years ago
GRAMM-LEACH-BLILEY look at those names..not one of them democrat. Phil Gramm (the author of the bill) was in fact McCain's chose as his economic advisor. This bill was created by REPUBLICANS..get your facts straight on this bill's creation.
clonedjedime 3 years ago
I know that. But see, it did pass in the Senate 90-8 and Republicans had a small majority in the Senate. That means a BUNCH of Democrats voted for it. You know why? Because they wanted more revisions to the CRA legislation that caused the bad loans to begin with!!! But here's the point: you asshats have been saying it's "THE BUSH POLICIES OF THE LAST 8 YEARS THAT'S THE PROBLEM". You've been blaming Bush for deregulation when it was BILL CLINTON that SIGNED the deregulation to begin with.
bootyraider 3 years ago
Ok, I don't know you nor do you know me, the comment "asshat" is way out of hand. Is this all you Republicans know? To try to out shout and call those who disagree with you names? And, let's not forget GW Bush's Ownership society. The hardcore fact remains, this whole financial mess has the bloody imprints of BOTH parties frankly. And, I'm not defending one over the other nor am I placing blame on one over the other, I'm a independent myself.
clonedjedime 3 years ago
Don't give me this crap you're an independent, I love the old "I'm independent" line when you start nailing lefties on the past of Democrats. And it's so funny that the majority of what you reacted to was the word "asshat". All those facts and all you can focus on is the ONE little jab I put in there. BOTH parties, eh? You said "..but it was republican philosophy that killed our last bit of protection". Knowledge of the Galactic Senate doesn't mean you know what you're talking about.
bootyraider 3 years ago
You miss my meaning, I can argue with you all day on an intellectual basis and not have to resort to any jab. And, yes de-regulation is a republican philosophy..letting the free market fix itself is a republican ideology. However, Dems went against their own ideology due to being paid off by lobbyists..hence we saw the hypocrisy of the 1990s..and the further perversion of regulation (by GW Bush carrying out on what was set in motion) of 2000-2008 period.
clonedjedime 3 years ago
Also what does George Bush's "Ownership" Society have to do with it? His Ownership Society DID NOT create the Community Re-Investment ACT! His Ownership Ship Society obviously is based on self reliance, which is NOT what caused this financial mess. Government intervention created by Democrats via the Community Re-investment act is what caused this. DEMOCRAT Philosophy is what caused this. ELIMINATE GLB-ACT and the BANK WOULD STILL HAVE HAD A LOAN PROBLEM!
bootyraider 3 years ago
Here's what the ownership society had to do with this financial mess. Google this article: BUSH ADMINISTRATION ANNOUNCES NEW HUD "ZERO DOWN PAYMENT" MORTGAGE and this: G.W. Bush on the Housing Boom - Oct. 2002. Frankly, those articles are self-explanatory. You still stress ONLY DEMS did this, I still stress BOTH parties had a hand..sorry you're not going to change my mind. I want to get rid of both corrupt lobby pay-rolled parties.
clonedjedime 3 years ago
Actually that's not GWB ownership society, that caused him to be on board with this. It was his "Compassionate Conservatism" tone. That was his problem and people who think Bush was a real Domestic conservative don't understand. Gram-Leach-Bliley which what you blame, doesn't make any of this possible, it only allows those loans to be "repackaged" and sold to wallsreet. Bush didn't create CRA, Bush didn't sign CRA or it's revisions, he did inherit it and went along with it for a while.
bootyraider 3 years ago
CRA: compels banks to make loans to low-income earners and in what the supporters of the Act call communities of color that they might not otherwise make based on purely economic criteria. These organizations, such as "ACORN", claim that over $1 trillion in CRA loans have been made. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA protest is issued by a community group.
bootyraider 3 years ago 2
And you know how good black people are with money! hhahaahaha!
ohio1998 2 years ago
And the Legislation that I'm citing that Democrats CREATED was the Community Reinvestment Act. That is the problem. Eliminate that act, and the bad loans NEVER make it to Wall Street BECAUSE THERE ARE NO BAD LOANS TO BE TAKEN TO WALL STREET.
bootyraider 3 years ago
I have an exact title for you : "Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis." It's a long one, but copy and paste does not discriminate.
bootyraider 3 years ago
Meh no need to copy and paste I'm sure any can track down various articles just by its title. As for CRA, google this article: What is the Community Reinvestment Act (CRA)? Basic point of the article, and by all means take what you want from it, but it's not a "mortgage" law..this according to lawyers. Now, maybe to some right wing opinion talk show hosts it was.I think you and I are different in our approaches to research, I actually use sources from both sides of the aisle (saw "Shocking..).
clonedjedime 3 years ago
If CRA is not the problem then why are you citing a video about Bush's comments from 2002? Those comments he made were about results and goals not POSSIBLE without the CRA. NOT GLB!! GLB is what led these loans to Wall STreet. Bush was on board with minority loans until 2004.
Yeah I have Googled CRA. So many links show up. Hmm.. I'm wondering which link you clicked on? Who wrote the article? Do tell. You can't have BAD LOANS without CRA!
bootyraider 3 years ago
You know I can go back and forth with you citing articles ( I don't think youtube allows links and I followed your example by submitting titles to google). Let's face it, we're beating a dead horse, it's impossible for either of us to come to an agreement apparently we're equally stubborn in our views. So I'll leave you with one question. How does this blame game help our current situation one iota?
clonedjedime 3 years ago
Again your title brought up many links. You seem like a reasonable guy. I've been hearing cookie-cutter responses aimed at Republicans for months now on this subject and I'm telling you it's more the Democrats fault. Am I happy with Republicans involvement? No! In fact I tested as a conservative Libertarian. Republicans preach fiscal conservatism then at like Democrat-light, aka pre-1972 Democrats. I have one more response then I'm done....
bootyraider 3 years ago
Here's the thing about Gramm Leach Bliley. Do you know why Democrats finally agreed to it? They agreed to it because they were able to make sure that institutions that benefited from GLB were REQUIRED to go under a CRA(Community Re-investment Act) INSPECTION. And if those institutions wanted to EXPAND their services under the GLB they were required to have a satisfactory CRA RATING.
bootyraider 3 years ago
almost done.... In other words: Those institutions had to be in compliance with ISSUING BAD LOANS in order to benefit from GLB. Please research this part of GLB. That is why they voted against it, then voted for it because they were able to still hook the banks with CRA requirements.
bootyraider 3 years ago
Ok to use your own words, this mess started with CRA got some additional teeth with the GLB, GWB went along with it and now here we are. Dems are more responsible, because they held out an ammendment to GLB (I'll check)in its relation to the CRA. Even assuming I agreed with you 100%, this now sounds like you too blame both parties, just Dems slightly more. Here's were we differ I place blame slightly more on the republicans due to the timing of the bubble bursting, yet I too blame both parties.
clonedjedime 3 years ago
Frankly, these little boxes are just too small to make a reasonable response imo. Anyway, I'll admit you make a strong argument when you further back it up with some research and thanks for at least trying to check my supplied info. I'll give you the same respect in this regard and check this GLB ammendment if I can find the link. So, you are apparently more to the right of myself..coming from that perspective what do you suggest we do to get out of this mess?
clonedjedime 3 years ago
"what do you suggest we do to get out of this mess"? Well, in a perfect world?
Replace 95% of law makers of both parties, with Libertarians so they can break down gov't some-- Social differences can be put on hold for economic freedom. Cut capital gains tax, stop spending so much money. Go to the fair tax. Drill for oil so Opec can't manipulate prices by cutting back. Repeal CRA. Issue loans based on merit. Remove the provision that allowed Fannie and others to repackage the loans etc.
bootyraider 3 years ago
But that's been my point with the timing of the bubble bursting. That's what that whole Fannie Mae video shows. Do I agree with the fix Republican proposed? No! They wanted to place a regulation on a institution that was thriving in business based on a regulation. Eventually those proposed NEW regulators could have been bribed I believe(?) that video is of the Senate banking committee- the group responsible for regulation of Fannie Mae in the first place, that's where Barney Frank comes in.
bootyraider 3 years ago
go to nobailout. org
warmicestorm 3 years ago
No, deregulation was during your boy's administration, bill clinton, chef.
And his name is good; what's wrong with drinking with bob, funny actually.
He has a right to be angry. And the republicans are not blameless either, but it started on clinton's watch.
If drinkingwithbob was a idiot liberal, he'd call you names, proving he was a retard, then ban you.
Liberals suck, election year or not.
warmicestorm 3 years ago
First, read the guys user name? Says alot about the validity of his rant..
second, research who and when they pushed deregulation of the banking and mortgage industries...
Reagan/Bush Sr. era +
S&L Scandals which included John McCain and His son also Neil Bush, brother to Geo W. Bush and son to Geo H. Bush-
get your facts straight guys-
Screaming, yelling and name calling doesn't change the facts eventhough your side seems to think so,
Grow up----when you're in charge, your responsible
M5CHEF08 3 years ago
Actually, this happended during the Clinton administration.
He didn't call anyone names, he's just upset, like most American's.
clkaggie06 3 years ago
Anyone who says "grow up" I just can't take seriously. "your side", fuck you sound like the country is at war with each other. Clinton signed it in moron...
boohoojew 3 years ago
As a independent voter, former democrat, I started to read what the liberals hate about Bush, but the stuff I was reading was so riddled with lies, I lost all respect for most liberals. Do they even know how to tell the truth. " sigh"
warmicestorm 3 years ago
Gergis, first of all, illegals shouldn't be sponging off my tax dollars. ( the goverment; which doesn't have any money; only money they've collected from taxpayers )
Second, what ta hell? 95% of those that have mortgages are paying them on time and doing fine.
Liberal, yeah, deregulation did begin under clinton's watch.
warmicestorm 3 years ago
One surplus year, which had to be adjusted down and all others were projections, which recession wiped out. Clinton was not the problem, not the solution either. F & F were creations of Congress. The Chief architects were Sen Barney Frank & Sen Dodd. Any opposition to the current rules have been demonized as racist. For 18 years proven analysts, regulators, Bush, McCain said finance needed reform. CONGRESS DID NOTHING, And that is Bushes fault? No wonder democrats are winning in the polls.
dberry2003 3 years ago
dberry2003: Thank you! Someone finally got the facts right. You should post more comments & opinions!
clkaggie06 3 years ago
wow get a grip! Clinton? We had a surplus and Bush and his buddies deregulated everything. Think what would have happened if Bush had gotten his way and had Social Seciurity privatized..Get a grip pal!
DrakeGrad 3 years ago
Good vent.
Of course you're right, free money to...and get this...the majority of defaults are so-called minorities.
Let's see.. the politically correct liberals ( goverment backed loans )backing loans to non paying minorities to buy votes. Yeah, and guess who gets stuck with the bill?
Yeah you, you sap, you and your children, grandchildren and great grandchildren.
Anyone that gets a paycheck.
warmicestorm 3 years ago
Here's a monkey wrench for your theory. TIN loans (no social security numberloans)have performed better than all others. Looks like illegals like pay their mortgages.
Gergis421 3 years ago
We had a surplus when Clinton left, which means extra money you, dumb redneck communist. Stop blaming Clinton for 9/11 are f*in stupid, Bush was delivered the doc, he went on vacation, failed America! The No.1 job of the president is to protect America he failed and you dumb communist re-elected him. This is the hell all u bible freaks asked for, here it is!
venicechik 3 years ago
When Bill Clinton left as president our country was in the best position it ever had been in US History, you dumb f*ing idiot stop listening to Rush, he's worse than gangsta rap,
venicechik 3 years ago
This is what happens when republicans are in charge! They fail us fully, while no one pays any taxes or assumes responsibility for being American. This why republicans are communist scumbags.
Republicans are communists, opposed anything social, don't want to pay taxes. All your dumb left wing B.S. lies it's not about left or right, republican or democrat it's about America. Republicans are not Americans they are communists. Kill the Republican ideology its counterproductive to being American.
venicechik 3 years ago
The fact of the matter is that many of the defaulted purchases were made by investors, that is individuals who purchased homes that they never lived in. You cann't blame this problem on minorites, oh I forgot, it's the American way! Evan on the Inside Washington show said it best yesterday: Americans have behaving as if the laws of God and nature have been suspended. You my friend are guilty too!
revcsolomon 3 years ago
need to calm down. Were you as vocal when neighborhoods were redlined and black Americans could not purchase homes that they could afford? Have you had your lithium level checked lately? If not, you should...!
revcsolomon 3 years ago
Republicans don't believe in paying their debts. This matter reaches back to Ronald Reagan and his green mail, leveraged-buyouts trickle-down philosophy, a philosophy that Bush has followed. Now there is a lien on the White House, it will soon be reposessed. Away with Republicanism, Reganism and the typical Republican blame game! Next Republicans will be blaming Obama for the fiasco. Oops, John McCain already did! Bush reverses Clinton policies that he did not like - why not this one?
revcsolomon 3 years ago
way to go America, good vote, A SECOND TERM AT THAT.
FUCK.
cigarmikey 3 years ago
Bush has had 8 years to do whatever he wanted to do, his ideas clearly havent worked and your country is now in a mess. Get over it and stop blaming other people.
1100111000 3 years ago
The Republicans are for less regulation and a more free market. Here's your result. Even the Republicans admits they were wrong. The market might crash harder than since '29.
McCain sucks and that's that.
a1mint 3 years ago
that's intense. how many takes are required to get the final product and do your neighbor's hate you? lol
VenisonFajitas 3 years ago
McCain knew this was a likely senario and tried to prevent it.
becky3725 3 years ago
I completely agree with you but the problem is you can kick them out of their houses but they still dont have the money and the banks still wont get their money. What where seeing here is the reverse trickle down effect. The banks lent out money to the poor the poor lost their ability to pay back their loans and now the loan sharks are out of their cash but what you are forgetting is in this country if you are a multi - million dollar corporation then good ol uncle sam whipes your butt for ya.
theman19811982 3 years ago
BOB! GO BOB!
kirkmach32 3 years ago
toncuz wake up!...He has the facts! I have been in Financial services for 30 years...what do you do for a living? Probably backing up to a Government paycheck! Even your jobs are at risk now!
robinsurfs 3 years ago
You, I think you do have a point. Have you looked to see whose campaigns Fanne Mae and Freddie Mac have contributed to, the most, these last few years. That's all pretty interesty as well.
Thanks for standing up for your beliefs and using your free speech.
I blame Clinton as well and agree that Bush should have seen this, though.
me2u2be 3 years ago
What a stupid ignorant buffoon. Still blaming Clinton for twenty years of conservative Republican deregulation. A Republican congress for 14 years with 8 years of Republican White House and these half-wits think Clinton "dictated" to all those Repub crony banker contributors. This white trash fool is dumber than Bush.
toncuz 3 years ago
you are scarry. Billy's been out of office for a long time now, Bush is corrupt as shit but what the fuck are you talking about?
chhmcom 3 years ago
Don't pin this on "democrats" the country is being wiped out by an elitist few. United we stand.
lightleague 3 years ago
yeah there are no corrupt democrat elitists.WTF
truetrickery 3 years ago
I DIDN'T SAY THAT! I was responding to Bob blaming "democrats" THERE are NO more republicans or democrats. There are only elite. Look at Ron Paul, he calls himself a true Republican and he stands alone! What does that tell you of these titles? They mean nothing. There's only elite global megalomaniacs, a dissolving middle class and a majority of poor people. This is America, stop dividing us. There are 2 real parties: good & evil and even if you're an atheist you can figure out what evil is.
lightleague 3 years ago
drinkingwithbob speaks for me, he just tells it like it is. Democrats are pure evil.
xxxxoxxxx9 3 years ago 3
Much of what you say is true, but your delivery - yelling, screaming - sure is a turn off. I feel more people would believe what you say if you didn't sound so crazy. Yes, the economic problems aren't Bush's - they are a legacy from Clinton, among other problems, but most people don't read/listen with wisdom and discernment and in depth. And let's all remember, Clinton was the one who didn't do anything with the terrorist when HE had the opportunity. Read your history better!
sassybird48 3 years ago
Wow Bob! Did you see the other comments posted here? The ignorance of these people is astounding! It's these same people that will gleefully try to put Obama in office. Scary! Our nation has become a country that lives beyond their means and wants us to foot the bill. This is the biggest scam ever to have been perpetrated on the American public and they don't even realize it! Mr and Mrs Obama talk about the American dream of their parents. If it is so great , why are they destroying it???
dbljaygrl 3 years ago
Comrade, this country has embraced interventional capitalism for quite some time. We just hate to admit it. Of course, this most recent episode of Freddie/Fannie just confirms that point.
smoovay 3 years ago
the problem is......bush and clinton dont give a rats ass about homes or real estate....that's just a plan to get peoples minds off of what really interests our political leaders pocket books...and that's oil....period....hell yea middle class people, who actually have money and savings, should have all the nice homes and shit, and people who simply dont have money need to get the hell out of their homes, but we're slowly becoming a planned economy..like russia...nigga please..get a clue america
kurojin97 3 years ago
Bill Clinton AND Bush were in on it as if they are both puppets. Niether of them admitted that the economy stopped growing for the majority which they should have. This is just a cheap shot at Democrats? No this is a let's place blame all over the place except where it belongs. Businessz are going to maintain with no growth while AMerica's population is going to explode. Bush said the economy was growing which it has not been. Obama the fallguy, America the fooled.
supaniceguy 3 years ago 2
Exactly, a growth-centered economy worked in the past...The question is always there though, once you've grown to the size of your surroundings, what do you think is going to happen when you try to keep growing? Seems pretty obvious, but no one even talks about this on the news. WE HAVE TO FORGET ABOUT AN ENDLESS GROWTH ECONOMY!
jecht8 3 years ago