By 2012, The American people will know well who caused the this economic disaster and it was in fact the democrats, not the republicans. The democratic party has been pushing for thirty years to makes home loans more affordable for folks who have no business owning a home despite Republican calls for reform and REGULATION at freddie and fannie.
Nice attempt to revise history,
but perhpas you should read FACT based journal;ism and not the histrionic fictiosns you clearly favor.
30 years eh? Who got elected 29 years ago?
Ronald Reagan
for 8 years.
Who got elected after Ronald Reagan?
Bush 1- for 4 years.
This nation has had a republican executive for 21 out of the past 29 years.
And Republican economic picies have been in ascendancy that whole time...
Republicans have pushed de-regulation, republican appointees to the Fed and treasury have embrace supply side economics, trickle down, and tax breaks for the richest 2%.
Republican presidents have refused to fund infrastructure maintenance, because the money goes to blue collar workers, so they could divert the deficits they ran up to the white collar workers in the defense industries.
And the whopping whole 8 years of Clinton... Clinton absolutely sold out to the rising tide of repiblican power and popualt support for republican ideology and, in order to get re-elected, Clinton absolutely suported Republicans initiatives to FURTHER deregualte the finaicail markets and lending.
But don't blame this crisis on Clinton's freddy mac incentives to lend to lower incomes people.
Those mortagegs, written during the Clinton years, STILL show a LOWER default rate that those given to qualified middle class income earners.
Why? Because there were regulations and oversight in place to ensure the loans were prudent, that's why.
you rattle off like a typical racist bigot about the Losers- but Dude... the low income foks are NOT the ones who created and not the ones who burst the housing bubble.
It was all those professionals who thought they could parley their HIGH income into becoming real estate magnates buy buying and flipping 4, 6 or 8 houses at a time...
You consrevative dolts keep trying to drag things back to Clinton, or Carter or FDR.
But you really really really need to learn reading comprehension and how to COUNT.
HOOVER was at the helm in 29. In response to the crisis, HE did PRECISELY what today's GOP is advocating... he froze federal spending.
He let bankrupt companies fail, he did nothing to interfere with the "free market".
And 3 years later, the country was ins such dire straits that they shitcanned republicans across the board and hired a democrat who would be president for 14 years.
FDR spent money... and the economy started to get better, albeit very slowly since the republicans had allowed it to grind to a full stop.
And, yes, it took WWII to finally bring the country out of the doldrums...
But HOW did that work?
Why it worked because the war resulted in MASSIVE GOVERNMENT SPENDING.
i.e. the economy recovered when the US government finally borrowed VAST sums of money to CREATE jobs.
So, really, pull your head out of the dark place you are wont to keep it. and read up a little..
Republican deregulation and free-for-all market religion is what caused this disaster.
It has been building ever since Reagan lied to the American people by claiming that Government is not the solution, government if the problem...
Republican ideas, republican politicians and policy, have ALL been disastrous, not only to our economy, but to our constitution and position in the world.
look around... mutlibillion dollar ponsi schemes, graft, cronyism, sweetheart deals and guaranteed Board positions... trillions of dollars re-distitributed to people who were already plenty rich...
Failing health care, infrastructure, economy, two un-winnable wars, half a million innocents dead at our hands...
a shrinking middle class and decreasing wages for most workers...
the life's savings of hard working people shifted into the pockets of speculators, or just plain lost..
bask in the glory of Reaganomics made manifest.
Anyone still on board with the republican party line is worse than just stupid and incapable of learning from experience.
They are the juiceless skingflints that civil society can do without.
No necessarily 'evil' per se, just dangerously vapid. cruel, self obsessed and
bigoted.
