do you find it nauseating,that the very same Democrats...?

Question

That have got us into this financial mess,are now the ones blaming the CEO's on Wall Street(blaming capitalism)and Saying It the fault of the mortgages(a peice of paper) instead of taking the blame they rightfully deserve and lying to all of us.

Answer 1

Since you are too stupid to actually know what you are talking about I'll school you. Hopefully your intellect will be high enough so you will understand.



These firms are known as GSEs. This stands for Government Supported Enterprises. That means that the government gives them money and will BAIL THEM OUT if they get into trouble. This promise of financial backing gives them isolation from market discipline. Neither democrats OR republicans ever wanted to stop this financial backing from the government for these firms.



Since these firms had the government backing them, investors invested heavily into these firms. These firms got investments they otherwise wouldn't have gotten because of government backing. So with more money, comes an artificial housing bubble, because they have more money than what they should if they followed market discipline. Housing prices were rising, and they gave anyone and everyone mortgages to buy these houses.

Everyone jumped on the bandwagon because they wanted to buy a house since the prices were rising. They all figured that they could buy the house, let the price rise, and then turn around and sell it for a profit.

Well, the prices stopped rising and started dropping. People's mortgages were for more than their homes were worth. By this time their introductory rates on the mortgages wore out and the higher monthly payments kicked in. They couldn't sell the houses for a profit. They couldn't pay the monthly payment. They lost the homes.

Gigantic housing firms such as Fannie Mae and Freddie Mac, who provided the mortgages started to lose money. And more and more.



Now we are sitting where we are at now.



Economic analysts predicted such a rise and fall in the housing market. No one listened. Neither republicans or democrats tried to get rid of the GSE status of these companies. Instead, the govt. subsidized these companies and gave them credit through the U.S. Treasury.

Did any republican say "We have to get rid of these GSEs because they are going to cause an artificial bubble in housing like analysts have been predicting for years!!" ???



Nope.



Neither did any dems. These GSEs didn't even try to keep their books. Now they have 1.5 trillion dollars in discrepancies in their books. Why try to keep them straight? After all, they would be bailed out by the govt. if anything ever happened.



And now it did.



And you are trying to blame just the democrats?



Do some research so you won't look like such a 'tard by posting such ignorant questions.



The only thing that would have prevented this is if these companies weren't subsidized by government funds in the first place. Regulations would have just put off the inevitable. In a market where market discipline needs to play out, it was just a matter of time before this happened.



Skimming from the program??? Are you kidding me??? Bush and his cronies are trying to push 700 BILLION through to "save" these GSEs. Why? So they can do it again? Thats just whats going to happen unless their status changes from GSE to a fully private enterprise just like any other business entity in a free market.



Unless I hear from democrat or republican that this is going to happen, I blame both partys. None of them will, either. Things will stay the same, with the taxpayers 700 billion lighter in the pockets.



If the republicans were really blameless they would have said "The dems caused this mess, we are NOT going to support a bailout for THEIR mess, but we will change the status of these financial entities so they are no longer GSEs and we won't have to worry about another bailout like this happening again. The firms either play by the rules or go out of business."

Lets hear a republican (or a democrat) say that!!!!

Answer 2

10 or so years back Bill Clinton had one of his cronies in power force banks to up the percentage of loans given to unqualified people from the then 42% to 50% (AKA they were forced to give loans to people they knew could not pay them back) bad business in any bodies book, Fannie Mae and Freddie Mac were created to placate the banks that knew this mandate would destroy them, they could sell these worthless mortgages to FM and FM and hopefully remain solvent. The only problem is who was going to bail out FM and FM. As we have now found out the US tax payer.



Oh and look at how much money Freddie and Fannie have donated to the DNC cause. Is there a connection there? Should make a person wonder.



Does any one else find it amusing or maybe sad that there are so many attacks on the questioner as opposed to trying to answer the question in a legitimate and honest way.

Answer 3

When you take into consideration that the Republicans have been in charge for 8 years and have control ed Congress for more years than that, I would have to blame them for the whole mess. No control of mortgage, banks etc during the last 8 years, and now they want Government control. This seems to be an election year flip! As far as CEO pay, they don't earn what they get and they ran the companies and did nothing. They should be replaced by someone with a sensible salary and not allowed to run another company.

Answer 4

Yes, very sickening.



For those of you who don't know what the questioner is talking about, he/she is talking about the restrictions lifted from mortgage companies in 1999 by the CLINTON ADMINISTRATION and DEMOCRATS as well as the TWO (yes, that's 2) bills that were buried by Democrats during the Bush administration that would have reinstated said restrictions. Yet people complain that Bush didn't try to stop everything from falling apart...

Clinton's excuse? Encourage minority homeownership. What the heck does he think he's doing encouraging lower class people who can't afford mortgages to think they can? Of course it crashed the system. Considering LAND is the number one source of the whole economic system....



So yes, this is nauseating. I think the media considers us too stupid to understand this so they continue to talk about the shallow end of politics.

Answer 5

this thought of the elite unified against the familiar human beings has became out to be real at some situations in historic previous, regardless of if that's been shown fake in others. case in point, the U.S. has had the two presidents which became a blind eye to the suffering of the working classification and unconditionally supported the wealthy elite, as nicely as presidents that have acted interior the perfect interest of the decrease and center instructions, even in threat of their very own political careers. finally, that's which could be problematic to choose from appearances. some presidents (it would desire to be argued that George W. Bush became into certainly one of them) have appealed to the working classification and the familiar human beings, yet became out to enact rules that have been undesirable for the final public and served in basic terms the elite. yet different presidents have been accused of this elitism and ended up doing so plenty extra reliable for the folk than for the elite. in terms of Democrats and Republicans, neither occasion is fairly accountable or harmless. the two events have had (and, i've got self belief, nonetheless have immediately) the two great reformers and massive elitist schemers. present day rules advise that the Republicans are extra needless to say vested in company pastimes, collectively as the Democrats look extra truthfully vested interior the first public reliable (or, a minimum of, staying on the first public's reliable section). regardless of if that would desire to easily substitute over coming years. My gut intuition says that Obama is the main actual of the plain professional-working classification reformers. he's been having some hassle residing as much as this call as a results of diverse factors, a great component of which has been the maneuverings of Congress to evade the legislations Obama needs from passing. He might desire to, too, become a deceiver interior the tip, yet I at the instant see extra info against that threat than for it.

Answer 6

How very typical and self serving of the Democrats !! Oil Crisis the fault of the Reps, Global warming ditto, a do nothing congress ditto, deficit and reckless spending ditto, financial collapse ditto. My quetion is even if it were all the fault of the Republicans just what if anything have the Democrats done to stop or help with any or all of the above? Sorry Dems but naming a record number of Post Offices for your political cronies just doesnt quite cut it.

Answer 7

The funny thing is that Clinton stuck firmly to Repub spending plans having been handed the cheapest oil since the 60's by Saddam who was undercutting OPEC thanks to being perfectly puppet-ed by Bush Sr. Since the natural right to left swing never happened and we got the 'free oil golden years' to paper over systemic problems enough people including professors believed the economic cycle had been conquered. This led to an epidemic of credit and fool hardy over extension which current governments, Right in the US, slightly Left in the UK watched a bubble they believed could no longer pop blow up in all of our faces. Fools w. power were to blame and there was no shortage of them, lucky for Europe the UK never got in their ERM.

Answer 8

YEP ! This should make you Vomit !! The Democrats' 'Kill Drill' Bill

Energy Policy: With nearly 70% of voters demanding more domestic oil, the Democratic Congress is about to sneak a new drilling ban into a must-pass government funding bill — while claiming it supports drilling.

Earlier this month, Rasmussen Reports found that 69% of voters support offshore oil drilling. That's no wonder, with fuel prices still painfully high and widespread concerns that America is becoming dangerously dependent on oil-rich foreign nations with ties to Islamic terrorists in the Middle East and hostile regimes like that of leftist Hugo Chavez in Venezuela.The do-nothing Democratic Congress may not have passed an appropriations bill all year long, but it's now in a position in which inaction would actually serve the public good.At the end of this month, the quarter-century-long ban on oil and gas leasing on most of the Outer Continental Shelf (OCS) expires. With 97% of our offshore lands sitting unleased, the United States is in the dubious position of being the only industrialized country in the world that restricts access to so much of its offshore resources. Considering public outrage over high prices at the pump, you'd think the people's representatives would be eager to carry out the public will and let the outdated ban expire — especially since in the 21st century the exploration and extraction of oil is no longer the dirty, ecologically risky business it once was.In July, President Bush lifted the executive branch's longtime ban on offshore drilling. That placed the ball squarely in the court of the Democratic Congress, which must renew the ban every year in the form of appropriations legislation in order to keep the drilling prohibition in effect. But when it comes to Democratic Party bosses in Congress, such as House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid, the vox populi always seems to get shouted down by the special interests to which their party is enthralled. In this case, it's enviro-extremists who think Barack Obama was right when he recommended an energy policy of everyone checking the air in their tires. Wind, sun, corn, hydrogen — these forms of energy are obviously in our long-term future as substitutes for petroleum. But Democrats refuse to accept that the desperately needed remedy to our short-term and intermediate-term energy woes is more of our own oil and gas — now. And so they are using the massive, end-of-the-fiscal-year "continuing resolution" to try to get Pelosi's "Kill Drill" legislation enacted into law. By attaching it to a must-pass budget measure, they hope to force President Bush to sign, convince voters that Democrats have "done something" about drilling, and thus neutralize the biggest political issue of the year for John McCain and congressional GOP candidates.It won't wash. Pelosi's "Comprehensive American Energy Security and Consumer Protection Act" actually bans drilling in places where we know the oil and gas are. It prohibits drilling within 50 miles of our coasts.The House bill deprives the states from sharing in royalty revenues — a strong built-in disincentive for state governments, whose legislatures would have to approve drilling off the state coast separately from Congress. The measure's provisions for utilizing oil shale reserves in Western states are tepid at best. The legislation does nothing to encourage more use of nuclear power. Yet it will raise oil prices by taxing oil companies to the hilt to pay for subsidies and tax breaks for research into green alternatives to oil that are too expensive and still at the drawing-board stage.With Congress scheduled to take yet another recess later this week for final campaigning before Election Day, defeat of this latest attempt to pass a drilling-bill-that-isn't would likely mean the matter is being handed on to the next Congress — and the next president. That is to be fervently hoped for, because what Sen. Reid and Speaker Pelosi are trying to do is pretend they are responding to the people's demands for more domestic oil when they actually are doing the opposite. The voters will have to elect a far different Congress this November to see a real drilling bill become law.

Answer 9

This is one that both parties are in the tank together. If the republicans were truly the party of the people they would have fought it tooth and nail to not allow it to pass. But instead, they applauded a bad idea. Bill Clinton owns this one.

Answer 10

Yes, it's downright disgusting!



In just two years, the democrats have destroyed the best economy in history!



Imagine what damage they'll do if they aren't stopped in November!

Answer 11

Lets just put the blame where it belongs with both party's .

and be done with this crap .

bottom line is all of us tax payers are the real victims here ,

we are the ones who pay in the end .

Answer 12

What are you talking about? How did Democrats do it, instead of Repugs? I'm afraid that this situation is the result of 30 years of right wing economic policies.

Answer 13

Well, I'm one of those Democrats who blames Wall Street and Republicans...



And I'm certainly not one of those people who caused this mess... I work hard and I'm below the poverty line.

Answer 14

It is questions like this and answers like the ones right-wingers give that truly show the rest of us, that you have no clue how we got into this mess, and no clue how the banking industry got itself here.



Suggestion:

intro to economics

Answer 15

No.... I find this question nauseating. Give me one clear fact that proves the Democrats has gotten us into this financial mess? The fact you are stating here is not clear at all.

Answer 16

No...I find it nauseating that the same republicans that were bankrupting savings & loans during the 80's (keating savings & loan(mccain) silverado savings & loan (neal bush) and costing American taxpayers BILLIONS in bailouts are at it again!

Answer 17

here is your link , look at 9-22 "policing the fat cats"http://www.foxnews.com/oreilly/index.html

Answer 18

If by "democrats" you mean John McCain, who was clammoring for deregulation for over TWENTY YEARS, then yes...I find it nauseating.

Answer 19

As always - just follow the money trail.

Some of Freddy and Fanny's campaign contributions list:

Dodd, Obama, Kerry, Reid, Clinton, etc.......

Answer 20

Your post is a perfect example of why drugs are bad. I do not find it nauseating because the problem stems from deregulation--something the Republicans pushed through.

Answer 21

I find the behavior of both parties nauseating, to be honest with you.

Answer 22

Yes.. and I always was a Demo-can't ...sad but I am sick to my toes

Answer 23

you make no sense. are you speaking in tongues? sarah, is that you?

Answer 24

Yes. PASS THE BUSH SOCIALIST BAILOUT NOW!!!

Answer 25

YES what in the HELL are you talking about:)

Answer 26

ANOTHER BIG YAPPER WITH NO LINKS!!!



Go get a clue!

Answer 27

What in the Hell are you talking about?