He must have known Obama was going to get elected. ba dump bump. I think the fact that he made these predictions in 2006-2007 would indicate that this financial crisis we are in occured squarely in the Bush Republican years... I think it's time to face facts and admit that Republicans don't manage money well, and are not competent to participate in goverment, and perhaps in a democracy. You say it's time to face facts, but then offer only opinion. Here are some quotes and a time-line which shows quite the opposite. Remember, the housing crises is where this economic crises began. http://www.youtube.com/watch?v=cMnSp4qEXNM&feature=related Oh, and then there is this... Fox News Blames Democrats for Financial Crisis, Bill Clinton Agrees http://clipmarks.com/clipmark/2EBBEB41-1F6B-4271-A576-91E229BDBE67/ Interesting and thank you for these clips. I would like to see an independant analysis of the circumstances however. FOX news is not a legitimate news source as I have seen them craft news stories that are the exact opposite of reality. That said, I am not surprised that the Dems didn't want to rock the boat when the economy in the US was doing relatively well, though artificially so. So is the moral of the story Government Regulation of Free Markets = Good, Free Market Regulation of Government = Bad ? Kinokonoko, Clearly this is a very complex problem that was going on for a long time. I'm not saying that private businesses did not also contribute to the problem or that Republicans had no part in it. Clearly, there is enough blame to go around, but If you think about how a business operates, you realize that they don't want to take great risk without great reward. The government REQUIRED them to take more risk by making loans to people who wouldn't qualify otherwise. When Fannie and Freddie started buying up mortgages it took much of the risk away from the banks etc. They could make money just by signing people up and selling the mortgages to Fannie & Freddie. They didn't care anymo... "I would be interested to see if you have any examples of Fox News crafting a story that is the opposite of reality." Here is a good place to start. I have at least a dozen other examples I will post here over the next few days to give you time to digest them all. FOX News Whistle blowers. From the mouths of former FOX NEWS employees: http://www.youtube.com/watch?v=trWcqxrQgcc A list of distortions by FOX news: http://www.huffingtonpost.com/2009/10/20/the-ten-most-egregious-fo_n_327140.html As you can see, I am not just parroting "white house talking points' -- this has been going on long before Obama got to the white house; and the fact that the white house is flatly stating it goes to show you how far and how obvious it has become... |
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