Why do we keep letting Obama get away with blaming the economy on Bush?

Question

The mortgage/financial collapse started back in the Carter days with bad decisions.Carter passed DIDMCA which loosened regulations on banks. Reagan also deregulated banks and started ARM's. Clinton signed the Gramm Leach Bliley Act which repealed Glass-Steagall Act. Clinton also signed the Commodity Futures Modernizations Act of 2000. All of these contributed to the housing/financial collapse and recession. But Bush tried to get Congress to pass stricter regulations on Fannie and Freddie since 2001 without success.
Other factors that contributed was predatory lending (Countrywide) and people living above their means.
All of this is on Wikipedia for anybody to look up, except about Fannie and Freddie and here's a link: http://newsgroups.derkeiler.com/Archive/Rec/rec.bicycles.racing/2008-09/msg02668.html
A reason the recession has lasted so long is that Obama didn't concentrate on the economy two years ago. Now it's a little too late.

Answer 1

Hussein is a cockroach, left-wing weenie.

When did you ever hear that type of vermin ever take responsibility for anything?

Answer 2

Sure, you can point to a lot of different regulatory mechanisms over the span of 30 years and both parties that in some way shape or form contributed to the collapse.



But the bottom line is that the primarily causes of the collapse was banks over-leveraging (which amplifies any bad investment) and complex derivatives sales with bogus security ratings. Maybe that's always been allowed in the books, but it went from a risky technique to insane and commonplace during the Bush years.



They republicans had a majority from 01-06, and failed to recognize the problem and act accordingly. Bush tried to fix Fannie and Freddie? Maybe, but then he sure didn't try hard. You can't really convince me that a man who was able to whip up the support to invade nations prematurely and pass the patriot act was somehow unable to pass disaster-averting legislation.

Answer 3

It's not 'we' who are letting BO get away with it -- it's the LAMEstream media! A big part of the illusion that America at large is buying the "Bush did it" nonsense is that the media is no longer fair and unbiased. The elitist press who seem like they're living in a different America than the rest of us, have been allowed to spin the devil out of the truth for a very long time. Truth is, while they have us arguing over Dem/Rep and all the party politics crap, we are actually buying into their smoke and mirrors! The government has been allowed to run roughshod over the citizens for a very long time because they just point a finger at whatever party is in and blame them for what goes wrong. They all pee in the same pot folks -- when you walk into a room and a vase is broken and all the kids in the room point at each other, what does it matter now that the vase is in smithereens! When one party is not doing the right thing, why isn't the other party advocating for the people!?!?! Easy - because they all have their dirty little secrets at the end of the day. You're right with your research -- there is plenty of blame to go around -- but when do we throw all the bums out and tell THEM to get a freaking JOB instead of acting like parasites...no wait, they're worse than parasites -- a parasite is smart enough not to kill it's HOST!?!?!

Answer 4

Because he is the product of modern american society. Claim to accept responsibility then turn around and point a finger. I find it very odd that the president would still be playing the blame game instead of coming up with solutions. Maybe it's always been that way but it seems a little extreme to me. A leader takes the cards they were dealt and plays them the best they can, they don't waste the time and energy on belittling the deck or other players.

Answer 5

"But Bush tried to get Congress to pass stricter regulations on Fannie and Freddie since 2001 without success"



you mean that with a GOP controlled Congress Bush couldn't fix the problems?



what a shocking development



the GOP must have been too busy lining their own pockets and the pockets of all of their closest friends

Answer 6

why is it that what Clinton did is considered as a failure (the ought to realize out and make homeownership a potential decision in life). we could be clean, the reason in the back of the "forcing" banks to furnish loans advance into to no longer provide human beings residences that they couldnt arise with the money for. the belief advance into to make homeownership a real decision. Dont get it twisted whilst Sally and Bob with 850 credit rankings walked in the economic agency with 25k jobs they left with 4.00 fees of interest. whilst Shaniqua and Tyrone walked in with seven hundred credit rankings and 55k jobs they left with 8.5% fees of interest. (somewhat sorry i had to flow there yet its authentic) The disparities in what human beings the place paying in keeping with demographics is and advance into spectacular. human beings blame Bush through fact he allowed his administration to furnish out undesirable contracts with taxpayer money, he has us caught in this "conflict" and he gave firms very great tax cuts and somewhat handed over something of the U. S.. If this recession advance into headed this form in 2004 we could blame Clinton yet as a central authority PPBE worker.... i know greater valuable sorry. to be honest I blame banks that broke peoples backs with fees of interest that have been stunning, lots of those I even have heard approximately are down maximum appropriate usurious

Answer 7

Actually most people are getting sick and tired of this blame game by Obama. He is starting to act like a child. I think he is losing it.

Answer 8

it all falls on deaf ears. ive seen reports on hannity but they dismiss anything he says even if sean says the sky is blue. the "drive by media" takes care of obama s shortcomings and are still living in the past reverting back to bush.



i find it interesting how fast bush's economy was his after 911, not clintons. that was 8 to 10 mos out. here we are 2 yrs later and its still bush's economy. interesting hmmmm

Answer 9

your right, they planned this whole damn thing years ago. it's the people who run the banks.





hey Kathryn, what Obama is doing has nothing to do with Democracy. stop being so damn partisan.

Answer 10

Tradition. Bush did it to Clinton for 7 years.

Answer 11

I don't, and I never did blame only Bush. Anyone who continues to blame Bush, and only Bush, is an ignorant partisan hack in need of a brain scan.

Answer 12

because over 70% of the American people still place the blame for the economic mess on Bush

Answer 13

Basically, everyone blames the current situation on everyone else. This is how it has been and is likely how it will always be. Obama is no different. Who did Bush blame again for the problems when HE was in office?

Answer 14

Bush is the source of all evil.

Answer 15

Bush crashed the banking system just like his daddy did.

Answer 16

wow, you're going all the way back to Carter....impressive



i guess that means we only have about 25 more years or so to go to keep rightfully blaming Bush

Answer 17

So are you asking us something, trying to prove a point, or using this opportunity to bash a political leader that you didn't vote for?



Get over it. He's president, and when you get to vote next time, you'll get another chance to get who you want. It's democracy... if you don't like it, move.

Answer 18

You show tremendous amount of ignorance with your question.

Answer 19

Because when I burn your house down when do you stop blaming me.

Answer 20

Wait until November, and see who he tried to blame.. Wait another two year, and the joker is out for good.

Answer 21

BECAUSE YOUR GOOD OLD MR BUSH OUTSPENT EVERY PRESIDENT BACK TOWARDS WASHING TONS DAYS, NOW THIS ONE HAS TOO TAKE A BULL DOZIER AND KLAN UP THE MESS HE WAS LEFT/.