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Originally Posted by Zugsmash
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You really hate Conservatives. Lets see what your amazing DEMs have done for us in the past.
President Franklin D. Roosevelt - Created the Welfare system and every Dem has used that atrocity to secure votes and keep people in poverty.
That system has millions of American's being comfortable sitting at home collecting money while everyone else pays for them.
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awesome, glad someone wants to list democratic failures! But this first one, is STILL not a failure, it keeps many people that deserve the help that they are getting, in their homes and their children fed. Did you know the LARGEST abuser of the welfare system, is conservative champion... WALLMART!.. of course you knew that, but do you care? NO because of some insane reason, likely republican payed for & run media campaigns.
Quote:
Originally Posted by Zugsmash
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President Jimmy Carter - Stopped our money being backed by Gold and placed on the Fiat system. Nothing else needs to be said.
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I would like for you to explain this in moe detail, but most importantly WHY is it a failure? (I created this thread to learn)
Quote:
Originally Posted by Zugsmash
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President Bill Clinton - Went to the Federal Reserve, AIG and other major lenders and told them to make it easier for people to get housing loans. So, what did this create. It had people getting housing loans for more than they could possibly pay back.
How is this possible??
You went to your local bank. You asked for a $400,000 loan for a house. The local bank knew you could only afford a house for $200,000 but gave you the 400k loan anyways. Why you ask?? Because the bank would immediately sell your mortgage loan to the Federal Reserve. So, when you defaulted it wouldn't be local bank out of money on that loan it fell on the Federal Reserve holding that mortgage.
This is what created the housing market crash! Not Bush.
This is the reason the economy was booming during Clinton. People were getting loans they couldn't afford because local banks did not have to worry about you defaulting on the loan.
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ok you are incorrect here, but these are ALL claims ironically used in republican attack campaigns during every election cycle, but whats so glorious abou them is they wer used in SARA PALINS eleciton cycle, so lol way to go quoting some raelly great stuff here.
The truth is the housing crisis was caused by BI PARTISAN stuff.. yes, clinton pushed for less stringent credit and downpayment requirements for working- and middle-class families.
but as damning as that is, bush equally is at fault for failing to provide needed government oversight of the increasingly dicey mortgage backed market.
but who is to blame for americans buying more than they can afford? ALAN GREENSPAN! A... you guesed it, REPUBLICAN! In 2004 it was his assurance and encouragement that americans could continue to do this, causing the bubble to reach an all time high.