Kyl: Bush Has No Responsibility For Mortgage Crisis

[McHunt7]

kjkj

[youngbono18]

Uh.... wow... UNEDUCATED IDIOTS!

The housing crisis was caused by the "Community Reinvestment act" Brought on by Bill Clinton and Jimmy Carter.

look it up.

[mutantstrain]

Kyl is from, and represents, the dumbest state in the country.

I wouldn't expect him to accept any responsibility.

Yes, Jon its all Obama's fault. All of it. And you and Palin will come in on your white horses and save the day. Kind of like General Custard defeating the indians, ehhh?

White folk are kinda crazy sometimes; some more crazy than others. I suppose if you come from slave owners, and the whole system that empowered it you wouldnt want to accept any responsibility.

[eros41481]

watch?v=Z5z9lD4C2Io for the reason of housing crisis

[lhogdk69]

There were government officials who used fannie mae in order to ease credit, so that it would be easier to pass their political agenda. The loans allowed people to absorb the high cost of government, deflect criticism, and kept from needed tax reforms to take place. It also provided a new revenue stream for local government.

[Revgirl5]

"Highly regulated industry"!!!!!!!

OMG tell me he didnt just say that!

[BLESSEDone333]

dodd is a dolt

[schchen2000]

your thinking.

[schchen2000]

by invading 2 countries? As Clinton said, there were so many a president could do in each passing minute. Pay close attention to what the newsman said. "How much of the blame does the Bush's Administration deserve for allowing this kind of situation to deteriorate as it has?"

The answer: It is his utter failure and he is completely responsible for letting this crisis to deteriorate under his watch. Period! Do your own thinking! Don't let Rush Limbaugh, Ann Coulter, Fox news & Glenn Beck do..TBC

[schchen2000]

the Senate are under Republican control. If he wanted to do something, he could have done so long time ago. He had 8 years to act on it. He had done something not so many presidents had done, i.e., 2 wars. When he invaded Iraq for whatever reason(may be revenge for his dad by getting Saddam or oil, who knows what?), he got plenty of credit until he screwed up so bad after the "MISSION ACCOMPLISHED." Did Clinton get any credit for allowing 9/11 to happen so Bush could get plenty of credit.....TBC

[schchen2000]

"Virtually none! We have been predicting for years that this problem would come along. While I was the chairman of the Republican committee..."

I don't have to listen any further. Only would Republicans elect such a person as a senator plus giving him an honor of being the chair of the Republican committee. I understand we won't be in the chaos we are in overnight. Even if it started under Clinton, Bush was still responsible for this. Why? He is the president and both the House and.......TBC

[mannyfeseha]

thehelpfund.blogspot

[mark99501]

Yes them negroes and brown people dont pay their loans.

[weedhoppers]

Put the blame where it lies, on "community organizers" like Obama used to be who intimidate banks into giving those subprime loans to people who don't have the means to pay their mortgages.

[t4705mb6]

Are you interested about what REALLY happened?

Google: THIS AMERICAN LIFE

Search: #355: THE GIANT POOL OF MONEY

Banksters spill the beans. Shocking.

[t4705mb6]

There is only one U.S. political party:

The Fascist Party.

Don't trust any of these liars. They're ALL criminals.

[BLESSEDone333]

amen on that one - democrats are pointing the finger at anyone but themselves and their own people who supported fannie and freddie and all the other credit loans that were stupid and just for RESALE not having any value - it's the cars and business loans too people

don't be fooled

[joesatube]

the dollar has fallen to record lows during bush's term (it's been dropping against $CAD since 2003) because the fed keeps cutting interest rates even as the dollar declines. It also declines when the fed just prints up more money to pay for things we can't afford. Wall street loves it because it's cheap money for them to lend (in the hopes of collecting interest on it). The $700 billion bailout is not using "our money" because bush has already spent all of it. More fake money = more Inflation.

[Forecaster2008]

Since 2006, the federally sponsored mortgage giant Freddie Mac has paid at least $345,000 to the lobbying and consulting firm of John McCain's campaign manager Rick Davis, according to two sources familiar with the arrangement. Freddie Mac had previously paid an advocacy group run by Davis, called the Homeownership Alliance, $30,000 a month until the end 2005, when that group was dissolved.

[DarcPrynce]

So, Obama received thousands from Fannie Mae, and it was Democrats who invented the Community Reinvestment Act that forced banks to give loans to people who didn't even have jobs! Fannie was run by former members of the Clinton administration, who made tens of millions of dollars manipulating the books to show that everything was working fine when in reality the whole house of cards was ready to collapse. McCain tried to stop this insanity a few years ago but his bill was blocked by Democrats.

[JohnR22926]

I'm sick of Dem talking points about "greedy lenders". Yeah, the lenders are partly to blame, as are people that took APR loans to buy more house than they could afford.

But how about the govt? Remember the hysteria years ago when lenders were found to be "redlining" minority loan applications? Blacks were only approved 72% of the time while whites were 89%. RACISM! screamed Jesse/Sharpton. Congress sanctimoniously changed the rules to force lenders to approve more loans. So who is to blame?

[brawnymike]

What's this? A Republican screaming, "We need more regulation! We need more regulation!"?

[maximusart]

I hope all you guys that voted Republicans see what happens and take notes. Bush gave no bid contracts, broke the military to kill one man, didn't catch Bin Laden, mass inflation, Katrina, Trying to get oil reserves for his friends before he leaves office, billions in Iraq for Cheney's old companies, gas prices were 1.40 when this fool took office. Everything they said about Iraq turned out to not be true.

Criminals they are Criminals..

[xxx12345yyy]

Yeah, I'm sure democrats would have allowed Iraq to sell oil in Euros and allow the dollar to collapse.

[maximusart]

OK Yoda!! Who was in a pic. shaking Saddam's hand? Rumsfeld, that's who. 9/11 connection - none. Why is Israel asking us to strike Iran? Because Bush was so gun-ho to kill some people and killed the only guy that was a check on Iran. Found Bin Laden yet - Hell no.

Iraq selling oil? I did hear something about the Iraqis paying for war in oil, but gas is high as fuck and we've spent over a trillion, 12 bil./mo.

GOP=LIES, LIES, LIES. Stupidiy and more lies. No more hicks from Tex-ass 4 Pres

[xxx12345yyy]

Yeah, look it up. Something about Saddam switching to Euros to sell oil and now Iran is doing the same thing. This will make the demand for dollars drop which is why we are trying to stop them. But I could be wrong.

[maximusart]

I don't have to look it up. We are getting what we deserve b/c we elected a dumbass for President. The dollar was falling b/f this because of the hugh defecits we are running. We are burning thru 12 billion/month rebuilding Iraq and for what? All of that money is going under the sands of that country. Are we going to bill them? We don't FUCKING NATION BUILD. BUSH HAS F'D SHIT UP SOO FAST IT IS BREATHTAKING. All he saw when he got into office was the USA as a bank and how to get his friends rich.

[justcallmesoso]

oh common. Gov not doing anything is what conservatism is based on.

[blair227]

Fuck you Kyl.You goddamned Gopers have fucked us for 12 years.

[busherbee]

like all repunantkons, Kyl is a TOOL

[Nutrino2179]

Bush did plenty to encourage the Fed's reductions in interest rates to keep the numbers looking good in the housing market to keep up appearances of growth and prosperity. He pointed many times to the rise in home ownership, knowing (or at least, he should have known) that it was fueled by reduced interest rates and rising housing values. I certainly don't lay it all on Bush, but he had a role, and as is usual for him, his only concern with housing was its political value.

[thankulord13]

At the time most Congress was controlled by the Republicans and they were busy fabricating a war in Iraq! They can't be every where breaking the law! That would be take more thought and we can't expect that from them...

[status343]

You know what? I agree. There are a LOT of people -- starting with individual branch managers at lending establishments and continuing all the way up to the Congress -- who did NOTHING to stop this. Everybody wants to point a finger, and Bush is an easy scapegoat (what with him being a corrupt, evil bastard). But if the legislature didn't put a bill on his desk, how was he supposed to intervene here? He's not a dictator. Not yet, anyway.

My take: Not Bush's fault (for once).

[videocafeblog]

Who is in charge of SEC appointments?

[Landrew120880]

Agreed 100%. Congress holds alot of responsibility for not taking any action for many issues up to and including the Mortgage crisis. They appear to be working together on a common goal.