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Festivito's Journal
Festivito's Journal
February 12, 2016

W* should be relieved it wasn't his 2004 SEC letting top 5 banks treat CDOs as cash....

No, it had to be a Democrat.

Even if it starts with Regan and there were a few glitches -- small recessions, did I remember to say small -- until we get to a ... a ... Democrat, Clinton, who had 8 years of constant up in market. The eventual fall after he left office due to Republican recalculations and putting their immediate bad months mixed with Clinton's last months was certainly not the fault of the Republican re-calculators.

No, it had to be a Democrat.

Even though the stock market took a dive the day of the election and people started putting their Clinton era earnings into housing instead. Even though the economy needed government help of borrowing over a thousand dollars per person and giving them 600 dollars to boost the economy. Even though as 2004 re-election loomed and 6 months prior the SEC decided to free the banks from that pesky old 10% rule. (CDOs are as good as cash anyway!) Even though we had changed from a trade surplus under Clinton to a trade deficit under W* that put cash into the hands of the Chinese who then put that cash into the housing bubble inflating it further and letting bankers give cash interest up front. (Oops, the Chinese didn't like that investment and we had to give them part of our national debt instead.) It couldn't be called a problem made by a Republican like W*.

No, it had to be a Democrat.

Not that anyone would benefit from re-writing history.

WARNING: There may be a lot of sarcasm here.

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Member since: 2001
Number of posts: 13,452

About Festivito

America - Change it, or lose it.

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