Republicans had complete power between 2000-2006, why didn’t they stop the credit bubble then?
by Mortgage Rates on Friday, November 12th, 2010 | 22 Comments
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Barney Frank and Maxine Waters (Dems) stopped it
“Chris Dodd tried to fix the mess in 2007 as well.” LOL He made the most money off of it.
This video defeats everything you just wrote. Watch it and you’ll see who’s fault it was.
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Now I’ve heard that in 2005 Bush administration tried to reign in freddy and fanny but were stopped by Bawney Fwanks, Pelosi and Reed. So I don’t know what to believe. The truth is hard to come by.
barney frank did nothing
the Dems have had over 2 years of power…..they did nothing……..everything was fine until they took over Congress in 2006………so how about you libs actually accepting some blame for once
The Republicans never had complete power. You need a 60 vote majority in the Senate to avoid a Filibuster. Republicans never had a 60 vote majority and could not pass anything without Democrat support.
The Democrats don’t have complete power now. That is why they needed 3 Republican Senators to go along with the recent Stimulus Bill.
Between 2000 and 2006 the Republican majorities in the Senate were between 50 and 55 votes. Meaning they needed 5-10 Democrats in order to bring a measure up for a vote.
They did try to regulate fanny and freddie mack , dont you know anything
Who with either Party is going to stop the economy when it is going well? regardless of the risk….
Joe is right. Although the Repubs had a slight majority up to 2006, it wasn’t enough to get the regulation of the GSEs out of committee. Both Franks and Waters stopped regulation of the GSEs.
The problem actually started during Carter’s administration when he signed the CRA (Community Reinvestment Act) which forced lenders to give high risk loans. Clinton reenacted it. The problem started in the housing market.
There is plenty of blame to go around, but this was the genesis.
This started in the late 90′s under Clinton… then the economy got really good… some say because of Clinton….. Then it crashed and some say because of Clinton….
i don’t feel like looking for the link, but bush did try no less than 16 times to get someone or something done about this, your question and scribe lack the facts to back it up…nice try though, but just remember, most people here are critical thinkers and know better!!!
Everything was fine–until pelosi and her thugs starting seizing my assets–and Bush was not the problem–the NAFTA–from clinton yrs–is the real problem–selling us out to foreigners–and giving our jobs away to thailand!
Dims are so dim–go to college–and get educated–better yet–finish High School!
Ron Paul tried forever. By 2007 everyone knew ‘it couldn’t last’. Those two had a lot to do with allowing and causing it to happen with their policies, actually.
It was stopped in the House by Maxime Waters and Barney Frank. In the Senate Senator Dodd was filibustering this issue. Also, the republicans placed it on the back burner because they were focusing on the war, Also, the President did not choose to make it an issue because he focused on the war.
DTG
Your premise is flawed. The Republicans did not have complete power from 2000 to 2006. They had a weak majority in the House. In the Senate they initially had a 51-49 advantage but then “Jumpin” Jim Jeffords switched parties and the split was 50/50 with the only advantage being Cheney’s tie breaker. But there were enough Liberal Republicans like Snowe and Collins of Maine and Spectre of Pennsylvania that that was moot too.
President Bush could not even get his nominees confirmed, remember?
The last time the Republicans had a clear advantage in Congress was during the Clinton Administration. That is why Clinton left a budget surplus. You can thank Speaker Newt Gingrich and his Contract with America for that.
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We could go on forever playing the blame game of the politicians and the super parties. I hold all the politicians and both parties responsible. The lifers in Congress need to go. They are too set in their ways to be flexable enough to truely represent the interests of the population.
Well, why don’t we clean up the crap on the floor by covering it up with more crap? That’ll make it all better. You should hear how childish you sound. Well what about this, them, or the other. If you just need someone to blame in order to justify Obama’s outrageous spending, then blame me if it makes you feel better and clears your apparently overloaded brain. Then maybe you could get to the real problems at hand instead of trying to justify one set of outrageous policies with another set of equally outrageous policies. In order to save ourselves from a lot of heartache and hardship, this country needs to act like a country with a common pride. You have to many people now letting the government get away with murder just because if they were to say anything, the other side would think they won. Won what!!? This country needs to grow up. Their are no winners in this type of partisan politics.
“The turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for US subprime mortgages, beginning in late 2004 and extending into early 2007.”
http://www.ustreas.gov/press/releases/re...
First line in your article Reads
“Since mid-2007, financial markets have been in turmoil. Soaring delinquencies on U.S. subprime mortgages were the primary trigger of recent events.”
FAS 157 And Mark to Market Accounting. Don’t be so misleading
Bush was Guilty of sipping the Kool Aid. He did want to help the poor. Both sides are guilty but Barney Frank And Chris Dodd were deep in bed with Fannie and Freddie and are as corrupt as they come.
Democrats ARE STILL PUSHING SUBPRIME LOANS TODAY! Come off it!
I usually try to give fairly detailed answers, but this one is going to be very short:
They didn’t stop the credit bubble because they and their campaign donors were making ridiculous amounts of money, and they wanted that to continue for as long as possible, consequences be damned.
That is one of the reasons we voted them out. Dems on the other hand love their party. In their eyes, their party never makes mistakes and can never do wrong.
During those spending years of the Republicans. How man spending bills did Bush veto? None. Thank you Bush and the Republican Congress for being fiscal conservatives.