Gingrich: Media Blaming Business Community for Financial Crisis Should Go After Politicians That Caused it First
By Noel Sheppard | October 11, 2011 | 21:39
Former House Speaker Newt Gingrich during Tuesday's Republican presidential debate once again went after one of his favorite targets - the media.
In response to a question about the Occupy Wall Street protests, Gingrich said, "Everybody in the media who wants to go after the business community ought to start by going after the politicians who have been at the heart of the sickness which is weakening this country (video follows with transcript and commentary, file photo):
KAREN TUMULTY, WASHINGTON POST: So Speaker Gingrich, it sounds like Congresswoman Bachmann does not believe that Wall Street is to blame for the financial mess. You've said that the current protests on Wall Street are in your words "the natural product of Obama's class warfare." Does this mean that these people who are out there protesting on Wall Street, across the country, have no grievance?
NEWT GINGRICH: No, let me draw a distinction. I think virtually every American has a reason to be angry. I think virtually very American has a reason to be worried. I think the people who are protesting in Wall Street break into two groups: one is left-wing agitators who would be happy to show up next week on any other topic, and the other is sincere middle-class people who frankly are very close to the Tea Party people and actually care. You can tell which are which. The people who are decent, responsible citizens pick up after themselves. The people who are just out there as activists trash the place and walk off and are proud of having trashed it. So let’s draw that distinction.
If they want to really change things, the first person to fire is [Ben] Bernanke, who has been a disaster as chairman of the Federal Reserve. The second person to fire is Geithner. The fact is, in both the Bush and the Obama administrations the fix has been in. And I think it's perfectly reasonable for people to be angry, but let's be clear who put the fix in. The fix was put in by the federal government, and if you want to put people in jail, I want to second what Michele [Bachmann] said, you ought to start with Barney Frank and Chris Dodd, and let's look at the politicians who created the environment, the politicians who profited from the environment, and the politicians who put this country in trouble.
CHARLIE ROSE, PBS: Clearly you're not saying they should go to jail.
GINGRICH: Well, in Chris Dodd's case, go back and look at the Countryside deals. Barney Frank's case go back and look at the lobbiests he was close to at, at Freddie Mac. All I'm saying is everybody in the media who wants to go after the business community ought to start by going after the politicians who have been at the heart of the sickness which is weakening this country, and ought to start with Bernanke who has still not been exposed for the hundreds of billions of dollars.
Let me just say one last thing, I want to repeat this: Bernanke has in secret spent hundreds of billions of dollars bailing out one group and not bailing another group. I don't see anybody in the news media demanding the kind of transparency at the Fed that you would demand of every other aspect of the federal government, and I think it is corrupt and it is wrong for one man to have that kind of secret power.
It is indeed fascinating the press are always quick to point fingers at the business community for all that ails the nation but don't want to investigate government policies that really lead to a crisis when a Democrat is in the White House.
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Comments
Newt nailed it, as usual. I
Submitted by killa37 on Tue, 10/11/2011 - 9:45pm.
Newt nailed it, as usual. I hope he gets some kind of upper-level position in the new Republican administration, becuase he's a pretty smart guy with good ideas - even if I don't always agree with him. But you KNOW the media will KILL him if he gets the Presidential nomination........
And killa37 nailed it, too!
Submitted by NC Boy on Tue, 10/11/2011 - 9:51pm.
And killa37 nailed it, too!
I agree with you both. Personally, I would like to see the
Submitted by Rush Fan on Tue, 10/11/2011 - 10:30pm.
next administration comprised of Mitt Romney, President and Herman Caine as Vice President. Newt would be an effective asset in the Romney/Caine Administration in almost any position he chooses, including Secretary of State and Secretary of Defense.
I am hoping that Newt's no-nonsense approach to the Leftist media's bias will spread to some of the others, particularly Romney. Herman Caine has already shown his toughness when handling the media.
By the way, I was so impressed with Newt's response, that I enjoyed replaying the video a few more times
I'm not so sure they'll be
Submitted by redfish on Wed, 10/12/2011 - 1:12am.
I'm not so sure they'll be able to. Obama won last time on an impression of being post-partisan and serious about issues. Democrats going into personal attacks wouldn't help them. Watch them say Newt cheated on his wife on her cancer bed, and then Newt's daughter coming on television saying its a lie. It wouldn't help them at all.
Newt for President
Submitted by Uruk Hai on Wed, 10/12/2011 - 12:48pm.
I know he has some horrible baggage but I still think he would make the best president. He was interviewed last night by Greta Van Susteren about Iran attempting to recruit a Mexican drug cartel to bomb the Capital and his answer was right on. Hermann Cain wanted to position our missiles off the coast of Iran. But Newt wanted to use Iran's own unhappy populace against them and force an "Iranian Summer". Until we beat the Iranians back into respecting our might (they will never respect our philosophy), we need to be a little more subtle.
But, yeah, the baggage is really bad.......
That whole Iran
Submitted by killa37 on Wed, 10/12/2011 - 1:19pm.
That whole Iran 'assassination' thing, with the Saudis and the Mexican drug cartel, has GOT to be a big smokescreen to take the onus off the anus of Eric Holder being subpoened about his 'honesty credibility' issue with regards to the gun-running operation. Apparantly the Feds knew about this issue with the Iranians, for some time allready.
Since June at least
Submitted by Kingfish17 on Wed, 10/12/2011 - 4:40pm.
President Barack Obama was first briefed on the plot in June, said White House spokesman Tommy Vietor.
"You can’t go take a trip to Las Vegas...on the taxpayer’s dime." Barack Obama
I'd love to see Newt as a VP candidate...
Submitted by Dbak61 on Thu, 10/13/2011 - 2:59am.
just to watch him crush Biden in a debate. It would be the one presidential election to swing on the VP outing, showing what we always knew about Biden and a reflection of what a goose-stepping. jihad loving moron Obummer really is.
And if Cain gets the nomination we will see it.
Obviously, Rose and Tummy have NOT read Reckless Endangerment
Submitted by merly1 on Tue, 10/11/2011 - 9:53pm.
It was the political class, ie Fannie and its GSA/political op connections--that Wall Street copied
in its efforts to keep pace with Fannie's eye popping financial numbers, starting in the 1990's;
The book is NOT kind to Geitner, Dodd, Frank and Co................
Yea, Rose was his usual
Submitted by celator on Tue, 10/11/2011 - 10:05pm.
Yea, Rose was his usual befuddled self, though I think he tried to be more or less fair. Tummy (;+}) looked like she was smelling nasty in the air just because she actually had to interact with (yikes) Republicans.
FLASH: The Obama jobs boondoggle failed in the Senate.
Submitted by drsamherman on Tue, 10/11/2011 - 10:08pm.
Check your favorite news outlet for more detail.
Yeah, Doc...........and most
Submitted by killa37 on Wed, 10/12/2011 - 12:34am.
Yeah, Doc...........and most of the ones I saw said something to the effect that 'the Republicans sink Obama's job plan', or something like that.........and you had to read down near the bottom to know that the Dems weren't going to vote for it either, and, in fact, had to be dragged - kicking and screaming - to even participate in a vote!!!
There is a reason why I call Harry Reid the 'weasel'..............although that's actually being unkind to REAL weasels, because Reid is way below them in his actions and his thought process. But he does sort of look like some bastard mutant sunnavabich progeny of a DNA-altered human weasel!!!
Not just Newt, Killa
Submitted by deadeyedan on Tue, 10/11/2011 - 10:09pm.
The Lamestreamers have already opened the bomb-bay doors for ANY Republican.
But Newt has the most armament in his quiver to fight back.
LIBERALISM - government of the people by the theories and for the ideologists
Newt was great - but why stop short of spelling it out.
Submitted by Gary Hall on Tue, 10/11/2011 - 10:11pm.
Yea, Barney Frank and Chris Dodd jumped on the band wagon, but the bandwagon was created with marching orders from Bill Clinton's head of HUD, Andrew Cuomo. He pushed the lowering of lending requirements and he pushed Fannie/Freddie into the game of guaranteeing $trillions of millions in mortgage loans for tens of millions of poorer minorities, who were being herded to the starting line by ACORN and other community organizing groups.
At least Speaker Gingrich is knocking at the door.
And Barney is indeed a fun target who should be tarred and feathered along the way.
Watch the progression of a sick weasel"
2005 - Barney Frank: What Housing Bubble? Explains that this housing bubble is not dangerous like the Dot.Com bubble.
2009 - Barney Frank Rewrites History - Interviewed by a "what you be saying man," Tavis Smiley. Now says Poor Should Not Own Homes – The conservatives forced them to buy (Wow! Bill Clinton and Andrew Cuomo are conservatives?)
2010 - Barney Frank Caught Lying About Fannie Mae Interviewed by Larry King. Same bizarre shift as with Tavis Smiley.. Frank is blaming the push into homes on Bush and conservatives. King is confused: “. .but Barney, didn’t you support Fannie Mae and the like ..?” Barney interrupts him and says, "rental housing.. I was very critical.. I was pushing them to do more rental housing, and that’s a big distinction."
Tavis Smiley and Larry King could see that he was lying - but, that's OK - it's their style.
(;~/ gary
Excellent Post
Submitted by Kingfish17 on Tue, 10/11/2011 - 10:53pm.
And just as the liberals in the federal government facilitated the lending of trillions of dollars in housing loans that could never be paid back, they are doing the same thing in student loans to unwitting kids who will do anything to grab a few thousand dollars with the promise of a decent job somewhere down the road just because they are getting some sort of degree that holds out an unobtainable promise of a future income stream.
"You can’t go take a trip to Las Vegas...on the taxpayer’s dime." Barack Obama
That's right, Gary...
Submitted by Jer on Wed, 10/12/2011 - 1:09am.
It was the Democrats--Cuomo, Frank, Dodd, Clinton--and only the Democrats who had a hand in that mess, even though the Republicans were in complete control of Congress for the last six years of the Clinton presidency and were in total control of the US government for several years during the next adminstration. But the GOP majorities were just casually brushed aside by the Democratic juggernaut..somehow. Apparently.
Yes, there were some moderately cautionary remarks and remedial requests by Bush, but if he had had a Paulsonesque "hair on fire" moment instead of pushing hard for expanded minority home ownership himself, perhaps it would have driven home the point.
As far as assigning blame, I do believe the Dems deserve the lion's share. But, the Repubs shouldn't be entirely let off the hook. The financial/mortgage/credit crisis was a perfect storm of a number of converging factors, including, but not limited to, those you cite in your opening paragraph.
Jer
Jer . .
Submitted by Gary Hall on Wed, 10/12/2011 - 2:03am.
Jer, I appreciate that you seem to understand exactly what I noted - and what Speaker Gingrich noted - and what Wayne Barrett noted in that 2008 piece in the Village Voice explaining how Andrew Cuomo created the damn mess in the first place. FTR, I've always been quick to lay out that Bush did not stop this one, any better then Clinton stopped the dot.com bubble, before it did great damage.
Yes - Bush lost his effort in putting a lid on this mess in 2003, or so. Damn shame.
But, "the Repubs shouldn't be entirely left off the hook?" Excuse me?
The Dems didn't just have a hand in it - they created the mess. And yes, as greed takes root, most everyone and their mother 'n law jumped in on the band wagon.
Tell you what - you find me 5 instances of our national MSM pounding on Bill Clinton, Barney Frank, Andrew Cuomo, and/or one single instance of a national MSM figure - like a Brian Williams - conducting an intelligent friendly conversation with a Republican asking them why these Democrats haven't been hung out, and are not being investigated for creating this current crisis, and I'll present 1,000 examples on the sickening bias that they have demonstrated in their lies to the American public.
Fair enough?
(;~/ gary
Gary...Maybe the effort to put a lid on the mess in 2003 was
Submitted by Jer on Wed, 10/12/2011 - 2:32am.
a tad lackluster because during 2004 [as well as before and afterward], the President was relentlessly promoting this:
"Not enough minorities own their own homes," the president said during a stop at a carpenters' training center in Phoenix, which followed a talk about home ownership at the New Mexico State Fairgrounds in Albuquerque. "And it seems to me it makes sense to encourage all to own homes."
In New Mexico and Arizona, Bush gave a modified version of what has become his standard campaign speech, including two topics his administration considers of particular interest to Hispanics: immigration and housing. He announced that the minority home ownership rate edged above 50 percent for the first time at the end of last year, and told audiences that his administration will continue to work to close the "minority home ownership gap," in which the percentage of white homeowners exceeds the percentage of minorities who own their own homes.
White House officials have frequently noted the continuing increase in minority home ownership rates, linking it yesterday with the president's call in June 2002 to increase the number of minority homeowners by 5.5 million by the end of this decade.
Jer
And for a somewhat more partisan summary
Submitted by Jer on Wed, 10/12/2011 - 2:39am.
there is this, from which the following is excerpted:
Bush went on in his June 18th speech:
"Well, probably the single barrier to first-time homeownership is high down payments. "
Uh-oh.
Traditional standards requiring "high down payments" existed for, as we see now, very good reasons. Being able to pony up 20 percent, or even just 10 percent, was cold, hard evidence of borrowers' credit-worthiness. It showed you hadn't spent every penny you ever earned. And a big down payment meant you instantly had substantial skin in the game. That you had paid out tens of thousands of dollars meant you were likely to do whatever it took to avoid losing your house by failing to pay off the loan.
To Bush and Rove, however, old-fashioned down payments were just keeping minorities from their fair share of the American Dream. Bush burbled on:
"People take a look at the down payment, they say that's too high, I'm not buying. They may have the desire to buy, but they don't have the wherewithal to handle the down payment. We can deal with that. And so I've asked Congress to fully fund an American Dream down payment fund which will help a low-income family to qualify to buy, to buy. (Applause.)
We believe when this fund is fully funded and properly administered, which it will be under the Bush administration, that over 40,000 families a year—40,000 families a year—will be able to realize the dream we want them to be able to realize, and that's owning their own home. (Applause.)"
Jer
Which, as black conservative Larry Elder noted [correctly]
Submitted by Jer on Wed, 10/12/2011 - 2:49am.
was just one area which demonstrated George Bush's commitment to minorities:
Homeownership
Half of all minority households are homeowners, an all-time high. In 2002, Bush vowed to increase minority homeownership by 5.5 million families by 2010. Bush pushed for programs on down payment assistance, and called for increased funding for housing counseling services. Bottom line, under President Bush, the nation has seen the largest overall increase in inflation-adjusted spending since President Lyndon B. Johnson. Indeed, much to the chagrin of fiscal conservatives, President Bush's budgets -- even excluding defense and homeland security spending -- make him the biggest spending president in 30 years. But, Bush doesn't care about the poor. There's a saying: We don't care how much you know, until we know how much you care. If one measures compassion by "outreach," the president placed more minorities and women in his government and with power positions than any president before him. If one measures compassion by spending, the president owes no one an apology. None of this matters, of course, as long as you're a Republican. If "love means never having to say you're sorry," being a Republican means always having to say it....
In December 2003, President Bush signed into law the American Dream Down Payment Act that was sponsored by U.S. Representative Katherine Harris. This fund will help 40,000 families a year with down payment and closing costs. Minority home ownership rate set a new record of 51% in 2004, with 1.5 million blacks becoming home owners. Since 2001, President Bush has doubled the funding for housing counseling to help more than 550,000 families purchase their first homes.
Jer
Jer . . Wow - a wild swing, and a miss.
Submitted by Gary Hall on Wed, 10/12/2011 - 1:09pm.
We're all familiar with Bush's jumping on that run-away bandwagon; though his proposals were tiny and more targeted compared to the goals set by Cuomo and Clinton. And his efforts, along with many in congress to reign in Fannie and Freddie's path to our destruction fell well short.
My comment to you, was simply addressing the ludicrous statement you presented:
"But, the Repubs shouldn't be entirely let off the hook."
Anyone remember seeing Andrew Cuomo being hooked during this historical saga? Perhaps by the national media (this media which is starting to prime him, as they did Obama starting back in 2004 - for the presidency) as Cuomo was running for Gov. of New York? Any attention to how his plan turned out? All they had to do was reference liberal Wayne Barrett at the Village Voice?
The entire national media has left the Democrats almost "entirely off the hook," Bill Clinton, Andrew Cuomo, Barney Frank, Chris Dodd (he's the only one who experienced any notable public awareness - and it was only a soft brush), ACORN - the entire broad plan which was put in motion in the 1990's to push tens of millions of poor minorities out of their almost affordable rental housing into buying homes, without being qualified to pay the monthly payment and very regressive property taxes, etc.
The Democrats, who created this mess, are protected by the media. Even when, in those rare instances as I noted - the confusion by Tavis Smiley and Larry King over this conspiracy to hide what occurred - it passes in that moment, and not a soul in the national media wishes to bring it back up, or follow up on it again.
Imagine an Ann Curry going after Bill Clinton in the fashion that she goes after others: Mr. President. Don't you see what your actions caused? The entire economy brought to it's knees - the untold human misery - tens of millions of people tricked into your want to shift the wealth (as candidate Obama described it) via government housing regulations. On top of that, your financial deregulations, set us up for world economic chaos. Why don't you take this personally? How can you sleep at night? Why don't you apologize to the American people? To the world?
Jer - that's the way she, and the rest of them, speak to, speak of, and speak about Bush and the Republicans - on most any issue, when they see that in their view, it is problematic - or endangering their common agenda.
I have no idea why you bothered to post those three comments, as they offered no context to my comment, nor any back-up to your ruse that "the Republicans shouldn't be entirely left off the hook."
As an aside. The national media and polling orgs continue, as they have been for a couple years now, polling on who does the American people blame more for this crisis - Bush or Obama.
Do they ever ask, Clinton?
The collapse of the dot.com bubble economy - and 9/11 - took an effect on what was put in motion. But bubbles will act like bubbles. R/E prices were already dangerously above the historic price channel in 2001. Fed policy of lower interest rates, perhaps some of Bush's encouragement, and greed (just like the 90's tech bubble) allowed it to go ballistic. Everyone piled on (re-fi's, with equity out, move-ups, new home ownership, remodels). Real estate agents - damn near all of them - shucked their fiduciary responsibility - Wall Street, in buying up all of these $Trillions in subprime mortgages from Fannie/Freddie did what they did, and AIG, S & P, etc. -- all got caught up in the bubble that was written, regulated to occur, organized, and fueled by the Clinton administration.
The housing bubble and the resultant mortgage crisis - Wall Street - would not have occurred, had a Republican been president in the 90's and the 2000's. Something else would have - I'll grant you that.
Back in the 2001-2004 stretch, following the economic recession that Bush inherited from the 90's dot.com bubble collapse, did they poll asking who the American people blamed more for the mess; Clinton or Bush?
Of course not - it doesn't work that way in the national media which is in bed with one party only.
The Repubs should be held accountable here, for not being good parents - keeping the Democrats in order.
Cheers
(;~> gary
I did like the format,
Submitted by Boudin on Tue, 10/11/2011 - 10:15pm.
The Candidates were pretty comfortable, and this debate had the least advisory libtard question. Although I think some of the questions were directed at the wrong person, overall, I liked it. Heck, even my wife watched,,,,,, over Baseball!
Since the day Cain released.....
Submitted by GregE on Tue, 10/11/2011 - 10:17pm.
......his 9-9-9 plan, my first thought from the liberal hating it perspective was that it was just a matter of time before some lamebrain liberal thinking of himself as clever would say ".....flip the numbers upside down and that tells what it is...."
But instead, Bachmann beat the liberals to it.
Stick a fork in her
Submitted by jon_torlin on Wed, 10/12/2011 - 10:16am.
Well, she went and shot herself in the foot with a 12 gauge with .00 buckshot.
She's done.
Expect her to drop out real soon. I'm not a big fan of Cain's, but that was a really dumb thing to say. I thought she was smarter than that.
-Jon
Bachman's comment
Submitted by Radical1979 on Wed, 10/12/2011 - 12:38pm.
really disappointed me. At least Newt was smart enough to realize the goal is to defeat Obama.
And she should address the merits.......
Submitted by GregE on Wed, 10/12/2011 - 9:28pm.
.........of the plan, and stop the nonsense. Her comment wasn't followed up with substance.
Charlie Rose got the vapors...
Submitted by NeoKong on Tue, 10/11/2011 - 10:19pm.
at the thought of Barney Frank going to jail.
You can't send Barney to jail as punishment....
Submitted by nonncom on Wed, 10/12/2011 - 11:03am.
unless you send him to a women's prison.....
Send him to Gitmo......those
Submitted by killa37 on Wed, 10/12/2011 - 3:38pm.
Send him to Gitmo......those moooooooooooooooooooooooooslems might mistake him for an ugly goat.
Uh-oh, the Blooming idiots are talking their crap
Submitted by Boudin on Tue, 10/11/2011 - 10:26pm.
Now that the candidates have left. To the extent that they claim Obama care will save taxpayers 143 billion. Unfreakin believable? Never mind the cost are up, for EVERYONE
You lot still got an open
Submitted by kangaroo on Tue, 10/11/2011 - 10:26pm.
You lot still got an open thread on this site,
Just asking cause saw a mate on your FB 'like' thumbnails and he said he has never heard of this site, I saw him and mentioned it to him, What the f%%k is going on????????and on top of that what are the freakin odds that I would actually see someone I know.
Screw this joint haven't posted for ages, got bullied by the" in the closet lib chicks" that you think the sun shine out of their asses, its the bait and switch with them, come on work it out, who are the chick bullies here, just sayin,
One more thing, this site has less and less comments everytime I turn up, WAKE UP admin and take care of biz
"When you reach the end of your rope, tie a knot in it and hang on"--Thomas Jefferson
If you get bullied by chicks
Submitted by Boudin on Tue, 10/11/2011 - 10:32pm.
You need to stay away.
Long time no see Roo, what happened to yoo?
Boudin, I haven't been able
Submitted by Hunter12 on Tue, 10/11/2011 - 11:07pm.
Boudin, I haven't been able to post on a regular basis in a while. Are you telling me Mother and Blond have mellowed? They could kick the liberal snot out of any strawman with half their brain tied behind their backs. At least they used to. I don't remember them ever stepping on a civil, well-thought post in the past though. Time change, I guess. Have to go.
"An appeaser is one who feeds a crocodile, hoping it will eat him last." - Sir Winston Churchill
Yep,
Submitted by Boudin on Wed, 10/12/2011 - 7:49am.
Nice to see you. Not sure what Roo is referring to, they were always well like on this board.
????
Submitted by Blonde on Wed, 10/12/2011 - 1:41pm.
Methinks it may have been cocktail hour Down Under.
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 138 (and Counting)
Yes, caught this exchange. Loved it, and so did the audience
Submitted by krendler on Tue, 10/11/2011 - 10:26pm.
Also, the old hag "moderator", Karen Tumulty, decided it wasn't enough to ask questions. Started her own back-and-forth with Bachmann, cutting Bachmann off to get in various Dem talking points. I was hoping Bachmann, the audience and other candidates would call Tumulty out on it ("Ma'am. Would you allow me to answer? Are you her as a moderator or as an spokesperson for the Democratic party?")
Put her out to pasture
Submitted by dbo on Tue, 10/11/2011 - 10:45pm.
Tumulty also had the most obvious "gotcha" question of the night when she asked Perry about Solyndra. She was so eager to pounce on Perry with her follow up questions that she cut Perry off in mid-sentence. I felt embarrassed for her.
I think that the more apt
Submitted by coin of the realm on Tue, 10/11/2011 - 10:30pm.
question about the environment in which the financial speculations occurred is not about the policies that caused it but what policies could have prevented it? And, can prevent it from happening again.
How to properly foresee and regulate things and activities that play with trillions of dollars every day , most of it borrowed, is what needs to be learned. Not some simplistic conclusion that a few toothless regulations barely enforced brought the financials;l system to it's knees. I bet Dodd and Frank wish they were half that powerful and effectual. No, it was the derivatives and hedge-fund speculation that did. It was completely unregulated and unmonitored by the gov. Heck, politicians cannot even grasp the basics of what happened.
Look into the 'Magnetar Trade' to get insight into the causes of the meltdown.
Give me control of a nation's money and I care not who makes her laws. Mayer Amschel Rothschild
Hedge funds? Really?
Submitted by Boudin on Tue, 10/11/2011 - 11:05pm.
Who the heck gave the opportunity to the funds you simplistic nitwit.
Fact is, FF gave homes away to folks who could not pay. By using legislation, Banks were forced to make a % of "risky" loans. The Banks, in survival mode, decided to sell these loans. To make them enticing for sale, they bundled them with profitable loans. But when the bubble burst, due to Frank and Dodd, refusing to rehabilitate FF, the bundled loans with the risky and profitable collapse. Now I realize your not very bright, but if you cannot comprehend this simple and true account, then I suggest you do not discus this topic anymore. I am not likely to be as tolerant next time
This is exactly why MATH is important, and the Creative Arts are not.
Boudin, It was even worse
Submitted by Hunter12 on Tue, 10/11/2011 - 11:14pm.
Boudin, It was even worse than givng homes away to folks who could not pay, the banks were forced to consider as assets things that could never be used to make a loan payment like the amount of food stamps people were paid and medical card amounts. And the Democrats campaigned on "The Republicans don't want you to share in the American dream." I remember when the dream used to be if you worked hard you could make something of yourself. Now the dream is "If I can get a hold of the money that guy worked hard for, I can piss it away or pass it along to my Democrat friend and he'll always take care of me."
"An appeaser is one who feeds a crocodile, hoping it will eat him last." - Sir Winston Churchill
In order to engage you in an intelligent discourse......
Submitted by Kingfish17 on Tue, 10/11/2011 - 11:11pm.
In order to engage you in an intelligent discourse, you would have to put together a couple of actual sentences.
"....it was the derivatives and hedge-fund speculation that did. It was completely unregulated and unmonitored by the gov. Heck, politicians cannot even grasp the basics of what happened."
It was the derivatives....Man....that's what did it! It was those stinking hedge funds.....Man.....they were the bad guys!
The fact is, you don't have the slightest clue as to what comprises a derivative. You also don''t have the slightest idea as to what a hedge fund does.
There are winners and losers in life's financial markets, everyday. Endemic risk only occurs when the federal government steps in and tries to regulate who is going to win and who is going to lose. If you are the jackass who bought a million dollar house, when you only make $70,000 a year, because some slick salesman sold you a bill a goods and told you that you could afford it, then you only have yourself to blame. You don't have recourse to pick my pocket to make yourself whole.
"You can’t go take a trip to Las Vegas...on the taxpayer’s dime." Barack Obama
Flip that coin again.
Submitted by upcountrywater on Tue, 10/11/2011 - 11:13pm.
Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown.
The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn't afford them -- just like you would expect of socialists.
'Magnetar Trade was insured by the government.
Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam
O'bama 0% capital gains @4:58 and so much more.
Many misguided souls here,
Submitted by LAM SON 719 on Tue, 10/11/2011 - 11:10pm.
Many misguided souls here, Romney is just going to give you more of the same, obamacare and cap and trade under new names. Wake up and stop supporting RINOSs.
While I'm glad to see Newt
Submitted by big.league.slider on Wed, 10/12/2011 - 2:02am.
While I'm glad to see Newt going after the root cause of our country's financial problem. At the same time I'm a bit disappointed in his hypocrisy.
The problems with Freddie Mac and Fannie Mae existed when he was Speaker of the House. As did federal deficit spending, Medicare and Social Security. If he did not do anything substantial to address those issues when he was speaker, why would I believe he would be any different as President?
The same goes for Mitt Romney. If you want to know what type of president he would be, just take a look at his record as governor. He'll do whatever will get him elected/re-elected, and not what the country needs.
Dont Rule Newt Out
Submitted by boscokraft on Wed, 10/12/2011 - 12:32pm.
Lets not decide who the candidate is going to be. When the democratic machine starts ripping the two lead candidates apart, it wont be pretty. Newt is the ONLY candidate that can out smart and out think the opposition. We cant experiment with someone who doesnt understand how Washington works.
Financial Crisis
Submitted by alvin on Wed, 10/12/2011 - 1:01pm.
Gingrich need to get better information. He's just spouting BS to the base. Frank, Dodd and Fannie Mae a small part of the issue.
Michael Lewis The Big Short
Matt Taibbi Griftopia
Bethany McLean All the Devils are Here
Alvin need to get better at, well, everything.
Submitted by UpNorth on Wed, 10/12/2011 - 1:19pm.
Then, maybe, someone reading what he posts can make sense of what he posts.
Mitt RINO would only slow (slightly) our accelerating slide into
Submitted by Dave. on Wed, 10/12/2011 - 1:34pm.
...the abyss.
We need a president that has the stones to not just slow our demise, but halt it, then reverse it.
Putting someone in the White House that has repeatedly demonstrated their willingness to swap spit with the people on the other side of the aisle is not going to get that accomplished.
And when it gets out that Romney's people made several trips to the White House in order to help the Obama administration with the imposition of Commiecare on this country, Mitt's goose will be cooked among conservatives.
Romneycare is an albatross hanging around his neck, and as I have said before, I think it is going to sink him.
It better.
-Dave
Albatross
Submitted by jon_torlin on Wed, 10/12/2011 - 2:35pm.
That was all over Drudge the other day, and I think it came up on Fox News a couple of times, so a lot of people would have seen it from at least those two locations.
I'd say he's definitely sinkable.
-Jon
Every current Republican candidate has baggage. Romney
Submitted by Rush Fan on Wed, 10/12/2011 - 3:47pm.
has Massachusetts health care reform, and his belief in Global Warming. Rush Limbaugh spent a good part of his show today expressing his concern about Romney's lack of conservative values and his global warming beliefs. Even Romney supporter and potential future Republican candidate Gov. Chris Christie believes in the dire effects of CO2 and Global Warming
Although I would prefer a more conservative nominee, I believe Mitt Romney is the only current Republican candidate that can beat Barack Obama. That goal is paramount. This country may not survive four more years of Barack Obama.
No way
Submitted by jon_torlin on Wed, 10/12/2011 - 4:16pm.
While the easy money seems to be on Cain at the moment, I wouldn't bet on Romney for anything.
And looking at Perry, his debating skills may seem lacking, but that didn't stop Bush from being elected either who wasn't that good a debater. So don't count him out just yet.
Bachmann shot herself in the foot with the "upside down 999" thing. She's done.
Dunno how long it'll take the rest to just drop out.
-Jon
jon....I really like Herman Caine. I just don't believe he
Submitted by Rush Fan on Wed, 10/12/2011 - 5:06pm.
can win against the youthful and articulate fabricator Barack Obama. I couldn't agree with you more regarding Michelle Bachman. I like her and her conservative values, but I was very disappointed in her jumping-the-shark moment when she said to turn Cain's 99 plan upside down and "the devils in the details."
I admit I'm settling for less than I would want in choosing Romney. His stance on global warming concerns me. It's imperative that the EPA be reined in before it does more damage. However, the bottom line is that I will vote for whoever is the Republican candidate.
Re: the EPA
Submitted by jon_torlin on Wed, 10/12/2011 - 5:15pm.
Texas has been at war with the EPA for the last few years, so if Perry were elected, you can be sure he's gonna do something about that bunch of reprobates.
Romney sure as hell won't do anything, given his stance on AGW, and those sorry sobs at the EPA will kill people again by telling the power plants to shutdown to save everyone from "breathing ailments," after all, who needs heat in the winter, right?
I'm not sure what the others' stance on the EPA/etc are.
-Jon
Perry doesn't seem ready for prime time. Not only does
Submitted by Rush Fan on Wed, 10/12/2011 - 5:34pm.
he have difficulty articulating his positions on the issues, but his stance on illegal immigration and in-state tuition for illegals is a real turnoff.
I live in California, and our Governor Moonbeam (Jerry Brown) just signed the Dream Act for illegal aliens, costing California taxpayers $14.5 million a year. Of course, California can afford that piddly sum, as the state is only $374 billion in debt.
+ being coached by Mika B. on facial expressions ain't helping.
Submitted by SickofLibs on Wed, 10/12/2011 - 5:38pm.
.
Newt has Been Winning Most of the Debates
Submitted by Avitar on Wed, 10/12/2011 - 2:55pm.
The opposition research that the Democrats have on Mitt Romney is being held back. I think that Newt Gingrich and perhaps Herman Cain are also holding information back for reasons of timing that will smash Romney into a greasy spot.
The media and Obama are trying to carry Romney to the nomination but once he has it they are going to swat him like Spiro Agnew. And given the information I hear around Massachusetts that is exactly what may happen. Mitt Romney may not evern be aware of the problemsbut there are a number of countries that want to take legal action against his consulting company.
SPAM is my currency. SPAM ALERT!
Submitted by The Vet on Thu, 01/12/2012 - 4:36am.
SPAM has now reached 4 SPAM to the dollar.
⇒ Smooth it out, Vet
Submitted by Cool Arrow on Thu, 01/12/2012 - 5:07am.
Call in the Spamboni.