Losing Control

You seem to have forgotten that Greenspan changed the home lending laws in the latter of the 20th Century just before announcing an Economic Slow-down and raising interest rates because he failed to realize that the High Tech industry had already Globalized and had created a real economic engine, because instead of a trade imbalance like we have with China, we were selling Computers and other Technology to Europe and the rest of the world because we were the leading developer... creating a positive cash flow in this direction.. that if it didn't look like an overheating economy we would have been a rather poor player in the huge world economy. But he did succeed in softening up the economy enough to help get Bush elected. Also, it wasn't so much the giving of mortgages to those of lower economic means, but Greenspan touted the variable rate loans and then proceeded to quickly raise interest rates to almost as high as they were before Bush W, when the economy was hot. How could he not have anticipated the high foreclosure rate and subsequent collapse of the mortgage derivatives market and the impending consequences. If we are going to continue to export all of our latest high technology jobs as quickly as we development them, then we are going to have to limit interest rates to about 3% and keep our fingers crossed. Besides Bush W. and a Republican controlled Government had 8 years to redirect things if they weren't totally satisfied... and what they did do, only made things worse...

Quite right. The fact is that the Democrats messing with the housing industry is what started this nightmare. Below is a link to C-SPAN video clips of the Congressional hearings at roughly the time Republicans attempted with S.190. to fix Fannie and Freddie. See for yourself who said what.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

See also:

http://www.youtube.com/watch?v=Lr1M1T2Y314&feature=related (See Obama interview, about 2/3 of the way through)

http://www.youtube.com/watch?v=cMnSp4qEXNM&feature=related

For an interesting article purporting to detail the House Financial Services Committee Chairs long history with Fannie Mae, See http://www.businessandmedia.org/printer/2008/20080924145932.aspx

"House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive."

The Democrats failed policies started this disaster. Even Bill Clinton says so.

http://www.youtube.com/watch?v=hfGWxqsKFmY

For an academic analysis from the field of Economics, See:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1322297

Oh, and by the way, Bush inherited a recession from Clinton, not a surplus that was anything but a surplus of bull on paper. The U.S. economy shrank in three non-consecutive quarters in the early 2000s (the third quarter of 2000 [Clinton Administration], the first quarter of 2001, and the third quarter of 2001). This required the first round of Bush stimulus checks, you may recall. Using the stock market as an unofficial benchmark, a recession would have begun in March 2000 when the NASDAQ crashed following the collapse of the Dot-com bubble. The Dow Jones Industrial Average was relatively unscathed by the NASDAQ's crash until the September 11, 2001 attacks, after which the DJIA suffered its worst one-day point loss and biggest one-week losses in history up to that point. The market rebounded, only to crash once more in the final two quarters of 2002. In the final three quarters of 2003, the market finally rebounded until the housing crises, the cause of which is set forth above.

No democrats have any foriegn business interests? Yeah right. Just like Gore and Kerry carrying on in 2000 and 3004 that Bush and Cheney were for big oil when both of them had more oil stock individually then Bush and Cheney had combined. Kerry and Gore also made fun of Bush's college grades yet they both refused to release theirs prior to the election. Guess what Bush had better grades then both of them oonce they released their grades and Gore flunked out of law school. He (Gore) may not be super dumb though he is conning a lot of dopes out of millions of dollars with his phony carbon credit business while uses 28 times the energy of the average American famioly and flies a private jet everywhere with limo transportation Got to love thoose elitetist dems they sure have a loyal albiet niave following.

The Global equalization strategy is embraced by the dems not the GOP. The globalists (UN) want to improve the global standard of living but they are doing it at the expense of the West. Their brilliant plan is to lower our standard of living while raising the third world standard up.As far as Reagan and anti trust you are way off. There was a law establlished under Teddy R. designed to keep American companies from moving their operations overseas why back then and it is still in effect today. Companies are allowed to move some jobs overseas to remain viable and competitive. Corporate tax breaks were designed to prevent flight way back then. Interestingly enough Obama and the dems want this law eliminated. Kiss every manufacturing jobs in this country gone if they get their way.

Just remember as you turn down your thermostat to save a few bucks on your utlity bill Obama turned his UP, to hothouse temperatures so he could lounge in his shirtsleeves in the Oval Office. When you voted him to "do something" was that really what you meant?

By "do something", you mean we should borrow a trillion dollars? If we're broke now, imagine the shape we'll be in after a few years of dem control of the government.

http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260

His ability to give a good "hope" speech got him elected. He has never led anything (except for his little stint as a community organizer). Clinton started bad also. Remeber the Hillary Health Care Plan and Don't ask, don't tell? He may come out of this alright. I hope he does for the country's sake. I was a Rudy G. fan. He was the only guy on either side that had any results and they threw him to the curb. Obama needs to realize that politics is a contact sport and that you can't win if you have the backbone of a chocolate e'claire

I'll second it. You hit the nail on the head with #1. I sure hate the whole "sky is falling, global warming, I invented the internet stuff." :)

Yes I know there are 2 #4s, don't bother pointing it out!

When you are at the top (Obama) you take the blame. Just like he blames the CEO's for the banking problem(turnabout is fair play.) As far as Daschle's "mistake," let me ask you if you think that you would get a break if you made the same mistake? No. Then why should he? Obama needs to realize that politics is a contact sport and that you can't win if you have the backbone of a chocolate e'claire.

I wonder if the IRS would consider it a "mistake" if you failed to report over 250K in income. As nfar as the GOP being obstructiionists look at the polls a majoority do not want these stimulus packages.