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Can we shed a little light on the economic meltdown?

December 23, 2008

After listening to Rush with his nutty conspiracy (democrats destroyed the economy) I thought it would be fitting that I highlight what the Bush administration felt happened to cause our economic meltdown.

hubbard
Al Hubbard, economic adviser to President Bush: “There is no question we did not recognize the severity of the problem.”

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Former Treasury Secretary John W. Snow, on the housing push that went too far: “What we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost.”

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Roy Cooper, Attorney General of North Carolina, on the administration’s push to block states’ efforts to use consumer protection laws to crack down on predatory lending: “They took 50 sheriffs off the beat at a time when lending was becoming the Wild West.”

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Andrew H. Card, Bush’s former chief of staff, on the decision to approve a predatory lender as ambassador to the Netherlands: “Maybe I was asleep at the switch.”

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President Bush: “It turns out this isn’t one of the presidencies where you ride off into the sunset , you know, kind of waving goodbye.”

Oh well, there goes Rush Limbaugh’s nuttery.  I guess some one was a sleep at the switch — Bush.

Enough said.

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4 comments

  1. If you really look at what was done to try to stop the insane practices of fannie and fredie, and how barny and chucky stood in the way it will be clear to see there is plenty of blame to go around. They are all politicians after alll. Including your mesiah. He’s just a politician all has said what ever it took to get elected. If you are on the far left i think you are in for a big let down. He will play the washington game just like all the rest. The one good thing is that the economy will improve because the Obama media talked it down and after 1/20 /08 they will talk it back up. Don’t be surprized if you hear them saying how great things look on day one.


  2. I’ve already mentioned that I thought you were nice enough guy, but if you keep pushing crap like President Obama is my messiah then I’ll know you have already lost part of your mental capacity.

    Just because you are a nice guy it does not mean you have spent one second getting facts before speaking. Fannie and Freddie was not the problem (THIS INFORMATION HAS ALREADY BEEN DOCUMENTED). It was predatory lending which had nothing to do with minorities or poor people. It was mostly the middle class.

    Since I know you are big on ignoring facts but even bigger on pushing scripture, after this I will no longer respond unless you actually stay on topic.


  3. You don’t respond to questions as it is. You are in denial. The fact are the facts. Fannie and fredie buying those bab loans was at the heart of the problem. How do lend money preditorily anyway. They used to require 10 to 20 % down to get a loan.


  4. You know superdave (smile), I could take up a collection to get you a TV that doesn’t play Fox Fake News and then all your problems would be solved. Or I can assist you in getting a library card, that could do the trick just as well. It would assist you greatly in living in reality.



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