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Reply #2: ? Bush was President at the time the alleged "liar loans" that supposedly brought down the economy [View All]

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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-15-12 04:35 AM
Response to Reply #1
2. ? Bush was President at the time the alleged "liar loans" that supposedly brought down the economy
Edited on Sat Dec-15-12 05:25 AM by No Elephants
were made.

The "liar loans" story was all over media as soon as Americans realized we were in collapse, which was months before the 2008 election.

After the election, the President-elect, who has finally copped to being a moderate Republican, and his Republican Secretary of Treasury in waiting had the identical reaction to economic global collapse that Bush and Paulsen had. In fact, Dodd reported that he had wanted to do something about forbidding bonuses and excess compensation in connection with the bailout, but Geithner urged him not to.

And, to this day, Glass Steagall remains repealed; companies that were too big to fail in 2008 are even bigger today, with nothing preventing them from getting still bigger; and mortgage lenders are just as free to offer the same deals to desperate borrowers as they did during the Bush years.

The old paradigms may have served Americans, especially Democrats, until Johnson or Carter. Since then, though, it's been the 98% against everyone else, including ALL of Washington, D.C.--and the 98% has not been winning, no matter which party has had control. It's not Democrats versus Republicans anymore, as the Democratic mayors of Oakland, Boston, Portland, etc. proved during the occupation of 2011.

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