Under Bush 1 it was the S&L collapsel; under Bush 2 it's the mortgage collapse.

[Atman]

Exactly what track record do the Republicans have to support their claim to any sort of business sense or fiscal responsibility? Unless of course, you consider stealing millions/billions from consumers and walking away without so much as a lien on your seventh villa in Boca Raton "failure." Republican economic doctrine seem to be simply "If I can take it and get away with it, it's perfectly okay for me to do so."

The trouble is, this time (in part because of the LAST BushCo bail-out of Neil and his S&L buddies, combined with that little issue of the endless war) George doesn't have the brazillion dollars left in the treasury to dole out like party favors to the loyal guests who stick with him 'till the end.

But something tells me he'll still find a way, and my grandkid's grandkid's grandkid's will <i>still</i> be paying for the disaster that has been the Bush Family reign over American politics.

.

[Donkeykick]

1. Just think.

If Jeb gets in there, we will probably go through another depression.:eyes:

[lovuian]

2. they orchestrated this just like Enron its all about

stealing billions and Americans pay the price

its to keep a country enslaved in debt

They will FAIL

[Myrina]

3. Are the 2 connected?

Just wondering - I was young at the time of the S/L fracas - but it seems as though the same basic tenets are involved - probably some of the same Bush Cronies, too - the mortgage industry is close with the banking industry and there is alot of funny money and phantom transactions that can happen (or un-happen) ...

:shrug: Are the same crooks cookin' books in a different aisle of the library?

[daninthemoon]

5. bush/walkers were bankers to hitler. long long history

[Myrina]

8. I know that part of it ... but I'm wondering about

the S/L drama of the 80's and the currently evolving mortgage/banking crash.

:hi:

[snappyturtle]

9. Here's a link at wikipedia that explains the S&L "crisis" as they call it!

http://en.wikipedia.org/wiki/Savings_and_Loan_crisis

My husband had money in a number of savings and loans, just money he had earned and deposited for interest and to build his retirement. He ended up losing over one million when the S&L's here collapsed. But the guys that manipulated the money got off.

[hisownpetard]

4. Under Bush II - MORAL collapse n/t

[Xipe Totec]

6. Don't forget Regan and the Junk Bond Collapse n/t

[high density]

7. I'd blame Greenspan more than Bush for the mortage meltdown

Don't take mortgage advice from Alan Greenspan
By Bill Fleckenstein
March 1, 2004

The Fed boss says homeowners should switch to adjustable-rate loans and save the difference. His record is full of dangerous moments like this when hes been way, way off.

Last week, Alan Greenspan was a study in contradiction. On Monday, he extolled the virtues of the levered-up homeowner to a credit union conference. The next day, in a speech to the Senate Banking Committee, he was singing a different tune altogether. Fannie Mae and Freddie Mac, the giant providers of mortgage capital, he warned, "are expanding at a pace beyond that consistent with systemic safety," and that "preventative actions are required sooner, rather than later."

Continued: http://moneycentral.msn.com/content/P73977.asp

The article talks about how "right" he was with predictions about the S&L crisis as well.