ARMs are not the worst of it. The low interest rates were causing people to take out interest only loans because the payments were low enough for them to afford a larger house. Creating artificial demand by keeping the rates so low was one of the worst mistakes in the Fed's (Short) history.
actually the dems had a similar bill that the republicans voted against so i guess they are even.
you do know that the bill was simply going to move the oversight from the federal gov to an independant agency right?
as for political contributions mccain received 168k from them so,....
| koffieboon said: I'm not a real expert when it comes to US politics, but didn't the Republicans have a majority in both the House of Representatives and the Senate in 2005 as well as the president. How can Democrats even block anything if Republicans really want to push it through? |
Let's stop caring about 2005 for a moment. Congress has been Democrat for several years now. In the US, it is Congress's job to spend the money. They ultimately control our financial future. I have no clue how you can not put responsibility on that party for how our money has been handled over the last few years.
If you want to blame Republicans for what happened when Republicans were in control, fine, but if you do, pony up and realize nothing has been done in the last few years to fix the problem, and that is completely on the Democrats.
TheRealMafoo said:
Let's stop caring about 2005 for a moment. Congress has been Democrat for several years now. In the US, it is Congress's job to spend the money. They ultimately control our financial future. I have no clue how you can not put responsibility on that party for how our money has been handled over the last few years. If you want to blame Republicans for what happened when Republicans were in control, fine, but if you do, pony up and realize nothing has been done in the last few years to fix the problem, and that is completely on the Democrats. |
You do not understand what a filibuster is?
no what needs to be faced is that ultimately gas prices are the reason things are the way they are.
increased food cost
production cost
shipping cost
travel cost
you name it, it went up in price.
not only that but the dollar tanked.
sure the housing problem has been around for a while now, but the unemployment coupled with government defeceit has killed this economy. that lies squarely with the republicans.
fkusumot said:
You do not understand what a filibuster is? |
Yes, I understand what it is. I also understand that it was a tactic used while the Republicans were in control. With your logic, you can't blame the Republicans now either.
Pick a standard, and apply it equally.
| whatever said: Ronald Reagan was the one who started us down this road. His irresponsible spending and deregulation are the foundation of this fiscal mess. |
Yup, but at least he ended the Cold War. I still hate the old bastard's guts though. Moral Majority my ass.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
TheRealMafoo said:
Yes, I understand what it is. I also understand that it was a tactic used while the Republicans were in control. With your logic, you can't blame the Republicans now either. Pick a standard, and apply it equally. |
Bush whitehouse is de-regulation. Democrats in control would get veto on the bill. And they did have a bill in 2007 (which obama helped with) Bush, when talking about this current crisis a few days ago said he didn't understand why the govt needed to get into it untul basically everyone explained it. The republicans failed on this and the democrats could not get it done :/ Too much partisanship.
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