Could George Bush's administration have been any more disastrous? He comes in promising to shrink the size of the government and let free markets reign supreme. He leaves while nationalizing more private companies than possibly any president in United States history. Could there be a clearer indication of the failure of conservative ideology?
According to OpenSecrets org, between 1988 and 2008 Dodd received $133,900, Kerry $111,000, Clinton $75,550, and Obama — in only 143 days in the Senate — received a whopping $105,849 from Fannie Mae and Freddie Mac lobbyists.
Bwhahahahah even Bush in 2003 wanted to put oversight on these companies and the Dumbocraps were too busy lining their pockets with money from the lobbyists.
A September 11, 2003 New York Times article shows that President Bush proposed the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
laid out on a plate for all to see the liberal Dumbocraps at work...
A September 11, 2003 New York Times article shows that President Bush proposed the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
Bob Barr said:"Congress set up the taxpayers for big losses when it established these quasi-government agencies to subsidize the housing industry, and then earlier this year voted to approve direct federal support for them. Policymakers should learn from the latest financial disaster and say never again. ..."
look who is in charge of congress..oh wait its Pelosi and the Dumocraps!
Liberal Dumbocraps pushed both funds into the risky sub-prime markets
wanting to give blacks and other minorities low to no money down...low interest balloon mortgages that they could get into a home..yet they could not afford really in the first place...lying liberals..shame on them..laughing all the way to the bank on the bakc of good honest taxpayers
new your observer a left leaning financial site (see how I am being honest about where I get my quotes from).
That's it, really: A place-holder Cabinet secretary who left office six years before the crisis started breaking is responsible because he wanted to increase minority homeownership. The rate-slashing Fed, predatory lenders, securities rating agencies, media cheerleaders, etc.--they're largely off the hook because it all started with Mario Cuomo's boy and his good intentions.
If Obama is elected, more of these Govt ventures will happen including the "Govt Health Care Enterprise". Frank Marshall Davis taught Obama that a Marxist/Socialist economy can really work - the Soviets simply did not execute it properly.
Yes government sponsored corporatism is the definition of fascism. so said the person who dubbed the term Mussolini. not that socialism is any better. after all Adolf Hitler was the head of the German Nationalist Socialist Labor Party. something that all the dip shits on the left need to get straight.
Please tell me where your getting your facts from!
"Adolf Hitler was the head of the German Nationalist Socialist Labor Party. something that all the dip shits on the left need to get straight."<- how about looking up your point?
I on the other hand will refrain from cutting and pasting info about a horrible part in history. I suggest people look for themselves.
I refer you to an excerpt form godwin's law: "the first person to call the other a Nazi automatically loses the argument."
FIRST OFF Im not a conservative, Im a Libertarian. and if it were up to me George Bush and Dick Cheney would both receive what in fact they do deserve. Being that they are BOTH international war criminals. Guilty of international war crimes of which given the precedence set after the end of world war 2 with the Nazi party members. ARE PUNISHABLE BY DEATH An untimely end.
And yes the Nazis war criminals were executed for aggressively invading a sovereign nation, and not for the killing of the Jews. but as for my comment i was merely stating an undeniable historical fact, one that dipshits like yourself might take into consideration before you advocate your own enslavement under a all powerful socialist totalitarian tyranny. Since im sure your simple mind neither understands the meaning of nor respects the ideals of Liberty.
In recent history, HUD Director, Cuomo (during the Clinton years) pushed both funds into the risky sub-prime markets - the begining of the end:
"[Andrew Cuomo] turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. "
An accusation is not a fact especially when the accusation is made by a bush loyalist.
Once again you are mixing 1/2 truths with innuendo. He was not part of the deregulation of market that caused the current mortgage crash ... correct?
If you read further it would show that he was an opponent of what caused the crash. Your post goes beyond dishonest. Please keep going and I will keep shutting down your lies.
The story you quoted has already been discredited independently.
In recent history, HUD Director, Cuomo (during the Clinton years) pushed both funds into the risky sub-prime markets - the begining of the end:
"[Andrew Cuomo] turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. "
saadasim.. I never said anything for Socialist Corporate. Corporatism and any state socialist/capitalist/corporate nation is a dangerous path to tyranny and huge inequality.
Republicans and Democrats are attacking each other about the financial global crash?
This has nothing to do with the parties, but with the materialism and lack of spirituality in general.
Human beings have a Soul, they reincarnate. If people would not be fighting so desperately for survival they would learn how to share the world resources in peace.
Super-Lib Robert Reich admitted that Greenspan, Rubin, and the Bill Clinton regime were at fault for the mortgage crisis. He said they changed the rules so that you only needed to "stand-up to get a loan". Bad bad bad bad bad Democrats. Bwahahahaha
This comment has received too many negative votesshow
Thank goodness a McCain-Palin victory is in the works and they can clean out the Socialists from the home lending industry. Now that Jamie Gorelick, Franklin Raines, ACORN, and Jim Johnson have been exposed as part of the Neocommunist agenda of Obama and Biden. Way to go, GOP! Once we take Pennsylvania, its all over for Obama!
IT'S THE INSANE GREEDY LIBERAL DEMOCRAPS WHO HAVE DONE ALL OF THIS!!
the Democraps run the congress and senate..oversight..what oversight..they are the majority in for two years and they let this happen..shame on pelosi and reid!
Democraps, Republicunts, this is not a party issue. It's called the 'shell game' all about moving risk and selling an illusion. Buy gold and lead I recommend .45 in the lead market.
No one is going to fix this. The problem is inherent in the system. Central banking, inflatable fiat currency, fractional reserve banking (everything economics is based on) is flawed to the core. They've known it since the beginning. By its very nature, it is a system which concentrates wealth into the hands of a few. When it crashes we'll all be beggars, and those few will effectively own all the resources. McCain/Palin as well as Obama/Biden are morons. Public figureheads, nothing more.
- The Dumocrats created both entities - FDR created Fannie Mae and LBJ created Freddie Mac
- Both of these are "government sponsored enterprises" (GSE) - regulated by another Govt entity (HUD) and without any real free enterprise controls. "Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. "
In recent history, HUD Director, Cuomo (during the Clinton years) pushed both funds into the risky sub-prime markets - the begining of the end:
"[Andrew Cuomo] turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. "
Behind the scenes, in the back room, they're all shaking hands... political party affiliation is insignificant. It's about money and power, not ideology.
Democrat bigwigs and official Obama supportersJamie Gorelcik, Frederick Raines, Paul Peterson, all were reaping well over $100 MILLION in bonuses and making loans to friends at Freddie Mac and Fannie Mae! They need to be doing the perp walk! Lets march those four into the Senate and have a Investigation NOW!! Start it tomorrow! AMERICA IS OUTRAGED AT THESE DEMOCRATS Perp walk those greedy bastards!
FrankCastlez Republicans have had a lot of power for a long time now. If they still have to blame the Democrats for America's problems instead of accepting personal responsibility, then America need to vote the GOP out of existence.
well troll...- The Dumocrats created both entities - FDR created Fannie Mae and LBJ created Freddie Mac
- Both of these are "government sponsored enterprises" (GSE) - regulated by another Govt entity (HUD) and without any real free enterprise controls. "Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. "
Well moron... who destroyed it? Deregulation destroyed it. What caused the depression on the 30's ... no regulations. What does McCain's long term friend and economic advisor say and do... "MORE DEREGULATION".
"two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having" <- because of... guess..... come on you can do it... DEREGULATION.
keep em coming and I will keep pointing out your lies.
MuslimGhost,What you will get is your ass kicked again. Want to start a holly war. Be converted or die? This is not 4 BC ass hole. You still moved a little quick. Not enough of your kind around yet. Even other Muslims will kill you now. Better duck back under your rock.
Most of the financials were transferred into Big Oil, Foreign Currency, Gold & Silver, Precious Metals & Gems. Meanwhile, the US Government lays claim to all moon rocks on US soil?
dustynbones, Who went up and collected the damn rocks, and what does that have to do with OVER PRICED LAND AND HOMES. People got greedy as well as Corporations. 1/2 acer of land priced at over a million dollars? $30 thousand dollar homes sold for 1/4 of a million. LET THEM EAT IT.
wait till Christmas when people have no money and can't buy shit. Most of the big retailer in the USA depend on the Christmas season for profits. How many retailers in the US will go bankrupt in January of 2009?. But Walmart will survive, and that means China will be doing just fine. THE SHIT IS ABOUT TO HIT THE FAN
Oh great Bush is "on top of the problem" and working out a solution!God fucking help us!Hey guys, heres a start, why not slash the fucking military budget in which we spend more then the rest of the world...COMBINED!Vote for McInsane/Palin nimrods!
Its all internatonal bankers plans, This is not the frist time we collapsed and the FEDs came in then and bought out all the banks they could here we go agin, ALL money will be owned buy the top 1 percent soon.
Independent Financial Watchdogs are saying that most of all of the CEO's who were present during this fiasco transferred their monies primarily into Oil.
yeah no kidding....he knows the markets go up and down on just the words that come out of his mouth....he could have been a little more upbeat...he might as well have been running around the studio flailing his arms around screaming were all dead!
Thanks realnews. Perhaps look again at why the WTC7 collapse happened. (to a nuclear bunker!)
It held the stocks & securities commission offices which held all the 'evidence' of other cases that were discovered on the back of the Enron case!
If all those cases had been prosecuted we would have had this crisis much sooner!
IMO they have deliberately created all this sub-prime 'debt' to cover up the 'accounting irregularities' that were uncovered after Enron! (and of course to 'blame' the poor)
Symptom of monopoly money economy, keep your "life" savings in a bank at the risk of losing it all.
The g-crudes aren't even reporting any economic information correctly. If you can't trust the government, you can't trust the "paper" money. Why not convert 10 % of savings into precious metal? Gold is as good as gold !
Of interest will be where the US stock markets conclude Bush's Presidency relative to where they started. On January 20, 2001 (when Bush took office) the Dow Jones was at 10,588. After yesterday's 500+ point drop the Dow was at 10,918 (ie, 3% above 10,588). Although by no means clear the general market trend still seems to be downward. The market may end up closing the Bush Presidency below where it started ... if it does eight years of financial "progress" will be totally wiped out.
You're forgetting the fact that $20 in 2008 will buy you around 15-16 dollars worth of goods when Bush took office. Factor in inflation and you'll really see how far the economy has fallen in the last 8 years.
It's far worse in some areas, plywood is 2.5x and fasteners (screws and nails) almost 2x what they were in 2001. So housing is in a major squeeze from both directions.
It is playing out exactly as they want. Soon the Amero will be real. Thanks Bush Co., thanks for selling your country out cheap. Thanks for betraying your country.
Pelosi... still unimpeachable, eh? Thanks for your help in destroying our nation. We will remember you all - and never forget your treason. Payback is a mutherfucker, just wait...justice will be done. One way or another.
Africa and Venezulea's time has come. Long live Chavez.
kulan2 6 months ago
This has been flagged as spam show
Nice try. Keep it up check out esteembpo + com for social media marketing. dfdf
SadeTabitha 2 years ago
Could George Bush's administration have been any more disastrous? He comes in promising to shrink the size of the government and let free markets reign supreme. He leaves while nationalizing more private companies than possibly any president in United States history. Could there be a clearer indication of the failure of conservative ideology?
george6900 3 years ago
Signs of prophecy, when you hoard wealth, you LOSE IT!
kunsura 3 years ago
According to OpenSecrets org, between 1988 and 2008 Dodd received $133,900, Kerry $111,000, Clinton $75,550, and Obama — in only 143 days in the Senate — received a whopping $105,849 from Fannie Mae and Freddie Mac lobbyists.
scum bag liebrals...
FrankCastlez 3 years ago
Bwhahahahah even Bush in 2003 wanted to put oversight on these companies and the Dumbocraps were too busy lining their pockets with money from the lobbyists.
hey krammit...pwnd
FrankCastlez 3 years ago
A September 11, 2003 New York Times article shows that President Bush proposed the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
FrankCastlez 3 years ago
These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
laid out on a plate for all to see the liberal Dumbocraps at work...
FrankCastlez 3 years ago
But Democrats in Congress, also known as the caucus perpetually on the wrong side of history, were having none of this responsibility stuff.
wow, more insight from the Dumbocraps
FrankCastlez 3 years ago
A September 11, 2003 New York Times article shows that President Bush proposed the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
FrankCastlez 3 years ago
Bob Barr said:"Congress set up the taxpayers for big losses when it established these quasi-government agencies to subsidize the housing industry, and then earlier this year voted to approve direct federal support for them. Policymakers should learn from the latest financial disaster and say never again. ..."
look who is in charge of congress..oh wait its Pelosi and the Dumocraps!
FrankCastlez 3 years ago
Liberal Dumbocraps pushed both funds into the risky sub-prime markets
wanting to give blacks and other minorities low to no money down...low interest balloon mortgages that they could get into a home..yet they could not afford really in the first place...lying liberals..shame on them..laughing all the way to the bank on the bakc of good honest taxpayers
FrankCastlez 3 years ago
I see giving people a house they could afford (because that what he was doing... if you looked) is bad?
Lowering interest rates below the support level and then lending to people who they knew couldn't afford it came after.
How can you argue that the first caused it? How? Especially when your facts are wrong.
I am about to embarrass you because will not let this lie go or tell me where you got the quote from.
I actually know where you did... more to follow.
krammitAll 3 years ago
new your observer a left leaning financial site (see how I am being honest about where I get my quotes from).
That's it, really: A place-holder Cabinet secretary who left office six years before the crisis started breaking is responsible because he wanted to increase minority homeownership. The rate-slashing Fed, predatory lenders, securities rating agencies, media cheerleaders, etc.--they're largely off the hook because it all started with Mario Cuomo's boy and his good intentions.
tag
krammitAll 3 years ago
If Obama is elected, more of these Govt ventures will happen including the "Govt Health Care Enterprise". Frank Marshall Davis taught Obama that a Marxist/Socialist economy can really work - the Soviets simply did not execute it properly.
FrankCastlez 3 years ago
Yes government sponsored corporatism is the definition of fascism. so said the person who dubbed the term Mussolini. not that socialism is any better. after all Adolf Hitler was the head of the German Nationalist Socialist Labor Party. something that all the dip shits on the left need to get straight.
666Qtip666 3 years ago 2
Please tell me where your getting your facts from!
"Adolf Hitler was the head of the German Nationalist Socialist Labor Party. something that all the dip shits on the left need to get straight."<- how about looking up your point?
I on the other hand will refrain from cutting and pasting info about a horrible part in history. I suggest people look for themselves.
I refer you to an excerpt form godwin's law: "the first person to call the other a Nazi automatically loses the argument."
krammitAll 3 years ago
FIRST OFF Im not a conservative, Im a Libertarian. and if it were up to me George Bush and Dick Cheney would both receive what in fact they do deserve. Being that they are BOTH international war criminals. Guilty of international war crimes of which given the precedence set after the end of world war 2 with the Nazi party members. ARE PUNISHABLE BY DEATH An untimely end.
666Qtip666 3 years ago
And yes the Nazis war criminals were executed for aggressively invading a sovereign nation, and not for the killing of the Jews. but as for my comment i was merely stating an undeniable historical fact, one that dipshits like yourself might take into consideration before you advocate your own enslavement under a all powerful socialist totalitarian tyranny. Since im sure your simple mind neither understands the meaning of nor respects the ideals of Liberty.
666Qtip666 3 years ago
Who knows you might even get a couple wrinkles on your brain. Although i would hate for you to hurt yourself so by all means do take your time.
666Qtip666 3 years ago
I found where your getting your facts from... revisionist history and propaganda site known as: conservapedia.
I can't fathom someone who has the whole world at their fingertips automatically searches and regurgitates lies.
keep posting I know how to use the "internets".
krammitAll 3 years ago
In recent history, HUD Director, Cuomo (during the Clinton years) pushed both funds into the risky sub-prime markets - the begining of the end:
"[Andrew Cuomo] turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. "
FrankCastlez 3 years ago
An accusation is not a fact especially when the accusation is made by a bush loyalist.
Once again you are mixing 1/2 truths with innuendo. He was not part of the deregulation of market that caused the current mortgage crash ... correct?
If you read further it would show that he was an opponent of what caused the crash. Your post goes beyond dishonest. Please keep going and I will keep shutting down your lies.
The story you quoted has already been discredited independently.
krammitAll 3 years ago
In recent history, HUD Director, Cuomo (during the Clinton years) pushed both funds into the risky sub-prime markets - the begining of the end:
"[Andrew Cuomo] turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. "
this is the reason for the loan crash moron.
FrankCastlez 3 years ago
Socialist Corporate Welfare is far, far worse than single mom welfare.
saadasim 3 years ago
saadasim.. I never said anything for Socialist Corporate. Corporatism and any state socialist/capitalist/corporate nation is a dangerous path to tyranny and huge inequality.
neolestat13 3 years ago
And people claim that Corporate Capitalism is the only way for the function of modern society. I say Bullshit. Tear down State corporatism.
neolestat13 3 years ago 3
You can not change a facist country with the Ballot only the Bullet
Wake up sheeple!!!
hesh2 3 years ago 2
usa is a scourge of the world.
resistancecutie 3 years ago
racist
jandrewmurphy 3 years ago
GREED...GREED... and more GREED has brought this on. Are we supposed to be shocked?
prisha91755 3 years ago 3
Republicans and Democrats are attacking each other about the financial global crash?
This has nothing to do with the parties, but with the materialism and lack of spirituality in general.
Human beings have a Soul, they reincarnate. If people would not be fighting so desperately for survival they would learn how to share the world resources in peace.
abilityoflove 3 years ago
It will get worse...wait to see what happens when auto-makers start kicking the bucket.
cdalelefty 3 years ago 2
lol...we will all be begging for the NAU! we need to stop participating in this..only freedom we will ever have.
RubiconJohn 3 years ago
Super-Lib Robert Reich admitted that Greenspan, Rubin, and the Bill Clinton regime were at fault for the mortgage crisis. He said they changed the rules so that you only needed to "stand-up to get a loan". Bad bad bad bad bad Democrats. Bwahahahaha
FrankCastlez 3 years ago
for all those idiots who voted for Bush, and for those idiots thinking about voting for McBush, look at what your little Republicans friends did?
Idtelos 3 years ago
i hope these rich people lose all their money.
deliciousmorton 3 years ago
This is a good news channel!
transmission696 3 years ago 3
TRUTH!!! SHARE!! MORE BANKRUPTCY!!
danoking69 3 years ago
This comment has received too many negative votes show
Thank goodness a McCain-Palin victory is in the works and they can clean out the Socialists from the home lending industry. Now that Jamie Gorelick, Franklin Raines, ACORN, and Jim Johnson have been exposed as part of the Neocommunist agenda of Obama and Biden. Way to go, GOP! Once we take Pennsylvania, its all over for Obama!
FrankCastlez 3 years ago
Yeah.... more Republicans in office is just what we need... give me a break
NaturalForces87 3 years ago
are you a complete idiot??? IT'S THE INSANE GREEDY REPUBLICANS WHO HAVE DONE ALL OF THIS.
THEY WERE LET RUN FREE WITHOUT ANY OVERSEEING, THEY FILE BANKRUPTSY, BUT THE EXECUTIVES, AND CEO WILL HAVE SOME NICE MONEY GIVEN TO THEM ALA ENRON.
Idtelos 3 years ago
IT'S THE INSANE GREEDY LIBERAL DEMOCRAPS WHO HAVE DONE ALL OF THIS!!
the Democraps run the congress and senate..oversight..what oversight..they are the majority in for two years and they let this happen..shame on pelosi and reid!
FrankCastlez 3 years ago
Democraps, Republicunts, this is not a party issue. It's called the 'shell game' all about moving risk and selling an illusion. Buy gold and lead I recommend .45 in the lead market.
moparroadrunner69 3 years ago 3
No one is going to fix this. The problem is inherent in the system. Central banking, inflatable fiat currency, fractional reserve banking (everything economics is based on) is flawed to the core. They've known it since the beginning. By its very nature, it is a system which concentrates wealth into the hands of a few. When it crashes we'll all be beggars, and those few will effectively own all the resources. McCain/Palin as well as Obama/Biden are morons. Public figureheads, nothing more.
immayhem 3 years ago
Some of the liberals on these boards claim that the "right wing free market extremism" was the reason behind these failures.
The truth, however, is the reverse - Democrats created, championed, and ruined these "Government Enterprises".
FrankCastlez 3 years ago
- The Dumocrats created both entities - FDR created Fannie Mae and LBJ created Freddie Mac
- Both of these are "government sponsored enterprises" (GSE) - regulated by another Govt entity (HUD) and without any real free enterprise controls. "Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. "
FrankCastlez 3 years ago
In recent history, HUD Director, Cuomo (during the Clinton years) pushed both funds into the risky sub-prime markets - the begining of the end:
"[Andrew Cuomo] turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. "
FrankCastlez 3 years ago
Behind the scenes, in the back room, they're all shaking hands... political party affiliation is insignificant. It's about money and power, not ideology.
immayhem 3 years ago 4
Democrat bigwigs and official Obama supportersJamie Gorelcik, Frederick Raines, Paul Peterson, all were reaping well over $100 MILLION in bonuses and making loans to friends at Freddie Mac and Fannie Mae! They need to be doing the perp walk! Lets march those four into the Senate and have a Investigation NOW!! Start it tomorrow! AMERICA IS OUTRAGED AT THESE DEMOCRATS Perp walk those greedy bastards!
FrankCastlez 3 years ago
Your a joke.... mcBush and Stalin's economic advisor was the same assclown that helped deregulate the mortgages.
next
krammitAll 3 years ago
I guess krammitall with your head in your arse you can't see very well!
Some of the liberals on these boards claim that the "right wing free market extremism" was the reason behind these failures.
The truth, however, is the reverse - Democrats created, championed, and ruined these "Government Enterprises".
FrankCastlez 3 years ago
completely baseless statement with no support or proof. De-regulation is the reason. Where did you get your proof from? Could it be a right wing site?
So it's not deregulation or oversight?
Please tell me where you got your facts from.
krammitAll 3 years ago
FrankCastlez Republicans have had a lot of power for a long time now. If they still have to blame the Democrats for America's problems instead of accepting personal responsibility, then America need to vote the GOP out of existence.
Trollmaster21 3 years ago
well troll...- The Dumocrats created both entities - FDR created Fannie Mae and LBJ created Freddie Mac
- Both of these are "government sponsored enterprises" (GSE) - regulated by another Govt entity (HUD) and without any real free enterprise controls. "Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. "
FrankCastlez 3 years ago
Well moron... who destroyed it? Deregulation destroyed it. What caused the depression on the 30's ... no regulations. What does McCain's long term friend and economic advisor say and do... "MORE DEREGULATION".
"two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having" <- because of... guess..... come on you can do it... DEREGULATION.
keep em coming and I will keep pointing out your lies.
krammitAll 3 years ago
ditto.
Sensible comment.
baidawi 3 years ago
Deeper or longer... understatement.
mikwid 3 years ago
Allahu Akbar!!! Perish the usury-devouring money-worshipers!!
MuslimGhost 3 years ago 2
lol
randompal 3 years ago
MuslimGhost,What you will get is your ass kicked again. Want to start a holly war. Be converted or die? This is not 4 BC ass hole. You still moved a little quick. Not enough of your kind around yet. Even other Muslims will kill you now. Better duck back under your rock.
didyoulisiten 3 years ago
Most of the financials were transferred into Big Oil, Foreign Currency, Gold & Silver, Precious Metals & Gems. Meanwhile, the US Government lays claim to all moon rocks on US soil?
dustynbones 3 years ago
dustynbones, Who went up and collected the damn rocks, and what does that have to do with OVER PRICED LAND AND HOMES. People got greedy as well as Corporations. 1/2 acer of land priced at over a million dollars? $30 thousand dollar homes sold for 1/4 of a million. LET THEM EAT IT.
didyoulisiten 3 years ago
wait till Christmas when people have no money and can't buy shit. Most of the big retailer in the USA depend on the Christmas season for profits. How many retailers in the US will go bankrupt in January of 2009?. But Walmart will survive, and that means China will be doing just fine. THE SHIT IS ABOUT TO HIT THE FAN
monkeypeopleofearth 3 years ago 3
I always wondered what a 21st century great depression would look like...
wait no I didn't
PersonalJesus348 3 years ago 3
Greenspan is pure scum.
odin422 3 years ago 4
LOL...you'll never do it. it's the Roman Empire all over again.
BFTCaL 3 years ago 2
"Its Only After You've Lost Everything That You're Free To Do Anything..." - Tyler Durden
Zionism and Greed must fall.
xExUxBxExRx 3 years ago 2
Someone read "Waldon Pond" by Henry David Thoreau!!! Love,Light,Peace always.
RobBryan206 3 years ago
hang all these traitors
DICKcheneyMASTER 3 years ago
hahahaahahahaahah capitalists scums
borntobelegend 3 years ago 3
right on brother.
fckuvrymch 3 years ago
Oh great Bush is "on top of the problem" and working out a solution!God fucking help us!Hey guys, heres a start, why not slash the fucking military budget in which we spend more then the rest of the world...COMBINED!Vote for McInsane/Palin nimrods!
partymariner 3 years ago
honest question.. I thought it was 1/2 of the entire world? That may have changed since last time I checked.
thx
krammitAll 3 years ago
This is the end
Beautiful friend
This is the end
My only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end
We'll never have capitalism...again
abilityoflove 3 years ago
Time to buy a safe and weld that thing down.
josiahdallas 3 years ago
I hope you have something better than US currency to keep in it.
pakratmak 3 years ago
Its all internatonal bankers plans, This is not the frist time we collapsed and the FEDs came in then and bought out all the banks they could here we go agin, ALL money will be owned buy the top 1 percent soon.
vancerz 3 years ago 2
Exactly! We've seen this movie before.
wervasdeferens 3 years ago
Independent Financial Watchdogs are saying that most of all of the CEO's who were present during this fiasco transferred their monies primarily into Oil.
dustynbones 3 years ago
thanks s lot greenspan
Transitiving 3 years ago
yeah no kidding....he knows the markets go up and down on just the words that come out of his mouth....he could have been a little more upbeat...he might as well have been running around the studio flailing his arms around screaming were all dead!
josiahdallas 3 years ago
lol... seriously.
pedroquintero 3 years ago
Fuck Greenspan. The scumfuck caused this, but he gets to wipe his hands clean by stepping back behind the facade of "I told you so".
Fuck free trade of physical goods. A financial system based on debt is supposed to crash, you ignorant fucking consumers.
XVX for life, R.A.S.H. 'til death.
aquamammal 3 years ago 2
nice to see the vultures starving... :)
jakob0815 3 years ago
Thanks realnews. Perhaps look again at why the WTC7 collapse happened. (to a nuclear bunker!)
It held the stocks & securities commission offices which held all the 'evidence' of other cases that were discovered on the back of the Enron case!
If all those cases had been prosecuted we would have had this crisis much sooner!
IMO they have deliberately created all this sub-prime 'debt' to cover up the 'accounting irregularities' that were uncovered after Enron! (and of course to 'blame' the poor)
ejbh3160 3 years ago
Symptom of monopoly money economy, keep your "life" savings in a bank at the risk of losing it all.
The g-crudes aren't even reporting any economic information correctly. If you can't trust the government, you can't trust the "paper" money. Why not convert 10 % of savings into precious metal? Gold is as good as gold !
boots920 3 years ago
Of interest will be where the US stock markets conclude Bush's Presidency relative to where they started. On January 20, 2001 (when Bush took office) the Dow Jones was at 10,588. After yesterday's 500+ point drop the Dow was at 10,918 (ie, 3% above 10,588). Although by no means clear the general market trend still seems to be downward. The market may end up closing the Bush Presidency below where it started ... if it does eight years of financial "progress" will be totally wiped out.
TokyoPlumber 3 years ago 2
You're forgetting the fact that $20 in 2008 will buy you around 15-16 dollars worth of goods when Bush took office. Factor in inflation and you'll really see how far the economy has fallen in the last 8 years.
hokieneer17 3 years ago 3
It's far worse in some areas, plywood is 2.5x and fasteners (screws and nails) almost 2x what they were in 2001. So housing is in a major squeeze from both directions.
TimberGeek 3 years ago
It is playing out exactly as they want. Soon the Amero will be real. Thanks Bush Co., thanks for selling your country out cheap. Thanks for betraying your country.
Pelosi... still unimpeachable, eh? Thanks for your help in destroying our nation. We will remember you all - and never forget your treason. Payback is a mutherfucker, just wait...justice will be done. One way or another.
PsyogiBottoms 3 years ago 8