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And now the very same people with their 'seemed like a good idea at the time' failures have the keys to the Treasury. Their stimulus package seems like a good idea right now to them.

There are probably 250 to 260 million tax payers in this country by my estimation. Instead of letting these jackasses spend our money why don't they give use each 1 million dollars? I'm sure that it would go to better use and produce tax revenues. I hate greedy dems and liberals.

At any playground you will have a pudgy kid who has a ball and the other kids will play with his ball and include him in the game for awhile. But, eventually they will start to raise hell with him and be a little mean to him. He feels bad and takes his ball and goes home.

That is what happens when people lend money and are treated badly and forced to play a rigged game. They take the money and go home. They may never come back--ever.

The kids with no ball will make up a game with new rules and promise to be nice and make friends. But the pudgy kid has gone elsewhere and might even be playing a different game. He no longer cares. The pudgy kid might not be physically gifted, but he isn't stupid.

wow, SnowSnake... wow.

The downside is that these morons could put things in place that will affect us for decades. Not just money, but bureaucracies that will get entrenched and never go away.

On the upside (and I keep saying this), they are a bunch of loose cannons and are going to start imploding very soon. Some already are. The "O" ascension has already had questions raised by "Bloggo", Geithner, the "stimulus" bill and on and on. Throw in Franken, Pelosi, Reid and the "pork-and-spend fest" to come and you have the makings of a perfect storm.

The conservatives should do very well in 2010.

wow - anonymous - wow

We have pretty well established you are nothing more than a site TROLL. Screw off.

GOVERNMENT DOES NOT SOLVE PEOBLEMS - IT SUBSIDIZES THEM... Ronald Ragan.

TED... I was saying "wow" because I was impressed with what Snake said. I'm actually an old poster on this site-- I just don't use my name anymore because I hate the trolls so much I don't feel like giving them a handle to exploit.

It's been pointed out that the U.S. has shifted from an economy of producers, to an economy of taxation, regulation, subsidization, and litigation.
Under BO the economy will be further forced by liberal sewer-brains into more and more socialism, protectionism, massive and unfettered government corruption and finally depression.

It had to get real bad under clueless Jimmy Carter for the mindless voter to wake up and finally elect Reagan to turn things around.

But on the positive side, they did it after only 4 disgusting years.

I have my cellar stocked.

I recon its time to be slopin them condressional demacrtaic hawgs again billy bob chores are waitin

who caused the crisis that Dems now want to use as a pretext for $1 trillion in unaffordable left-wing pork


That's easy to answer: Both mainstream parties! They have equally led us down the primrose path to economic ruin.

I have to agree with the rambling taoist, Blaming the sub prime crisis on dems is nothing but propaganda. I take issue with the so called facts presented in both videos.

But have a good laugh and enjoy your well stocked cellar. I'll add a "wow" to someone who wants to explain such a complicated and global financial scandal with a pudgy kid and a ball on the playground. Its just a lot more complicated and you all would be helping america studying the underlying forces at work rather than join in on the propagandistic blame game of dems. It is pure moonbattery to try and lay it all at the door of acorn or the dems, or even fanny and freddie.
There is plenty of blame for the republicans, for the conservatives and for the banks themselves, not to mention wall street.

People around the world bought these "financial instruments" of repackaged loans. I imagine that was some republicans and conservatives as well, and they bet wrong in this case on a massive scale. They may even not have known they were sub prime mortgages they were buying, they may have been defrauded, it wouldn't be the first or last time (bernie madoff)

There was a housing bubble too ya know, which plenty of folks warned about. Prices were high and a correction down was predicted to arrive at some point.

Do I hear someone laying down the housing price bubble at the foot of the dems or acorn?

People around the world bought these "financial instruments" of repackaged loans.

We're talking about the US fiscal crisis. Not the global crisis. It was, in large part, caused by Democrats.

Learn to stay on topic. Your feeble attempts to fog the issue/change the subject with your inane, rambling post have failed.

Wow you just have to Love those Democrats, so brain washed they can not see the forest for the trees, Democratic the party that allows is top ranking members to commit any crime including murder and walk free.

You are expected to pay your taxes, Democrats, oh He just forgot! Folks try that one your self see what happens!!! That includes you low ranking dems, you will not get the breaks your Handlers get.

Examples:
Bawne Fuwanks, commits multiple crimes over the years and accepts bribes to look the other way at malfeasance at Fanny and Freddie democrats feel this is fine.

Chrissy (Line my pockets) Dodd too many questionable association over the years to even start listing, accepts bribes to look the other way at malfeasance at Fanny and Freddie democrats feel this is great.

We could get in to a fat drunk from Massachusetts murders a girl and skates.

I could go on all day and night.

Someday one would hope democrats wake up and smell the coffee, and see the scum they keep voting for.

Anonymous:

The post on this site just says "crisis"

AND "Anon", you think I care about any of your crap, why? You are always on the LIBERAL side. I don't have to pay a fee to post here so I assume there is no "union" here funneling money to the DNC so WHY would I be interested in you SENIORITY or why you are afraid to use your own name!?

What a lame argument. Unstable derivatives from bundling packages were outcomes of long-term government subsidization.

Jimmy Carter and government attorneys launched a myriad of frenetic law suits aimed at “redlining” banks. Banks got in line. Then years of investment strategies were conceived of and founded on the guarantee of low risk due to government-provided insurance.

Liberal policies were generally responsible for originating and perpetuating an artificial real estate investment boom that caught up the American economy and has since contributed massively to its downturn. This originated with big government intervention in the marketplace at its liberal worse.

Conservatives do not generally support government intervention in the marketplace for very many reasons, much less for the sake of social engineering.

Liberals own the Community Reinvestment Act, Jimmy Carter, social-engineering programs, Barney Frank and continuous litigation still crippling free-market enterprise.

It gets tiresome to see liberals always pointing their mucus-encrusted fingers at Republicans and Conservatives.

since Bush warned Congress every year since 2001 (17 times in 2008 alone) about the looming subprime mortgage mess at Fannie/Freddie, and those dire warnings never made it out of either GOP nor Dem controlled committees in either the House or Senate, some folks might want to play the blame game at both GOP and Dems equally. (see above comments) - except that would be so wrong.

the REASON his (Pres Bush's) warnings never made it out of any of the committees was because of powerful Dems blocking any movement on those recommendations in those committees. bottle it up, continue to ignore it, and the problem goes away seemed to be their standard procedure. making the problem "go away" until right before an election sure does smack of conspiracy no?

i still say that the price of gas tripling in the four-month period before the election had more to do with the hedge funds-initiated crises (think George Soros hedge funds) than any single other factor.

...and THAT would be an excellent example of the Cloward-Priven "Theory of manufactured crisis" in order to enable socialist revolution. maybe this example will be taught in PolySci classes from now on? (don't hold your breath)

just checking your fax jax. ;)

"If you can cut the people off from their history, then they can be easily persuaded." Karl Marx

Fannie Mae Eases Credit To Aid Mortgage Lending
Published: September 30, 1999
http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
...
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
...
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's

Sorry Liberals, can't rewrite history this is from your most Liberal source, dated 1999

New Agency Proposed to Oversee Freddie Mac and Fannie Mae
Published: September 11, 2003
http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
...
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
...
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Sorry Liberals, Conservatives tried to reign this problem in, during 2003 and Barney Franks thought "affordable housing" (aka irresponsible lending; greater debt) was better.

Any time I've ever present any of these well-made videos to my liberal friends they simply refuse to watch them. I had a blog for a while that several of them visited and I was flamed repeatedly for presenting "propaganda" as evidence. The truth of the matter is that they don't care about the truth at all. It's a sad day when people who fear thruth so much are in control of the country.

thanks for the further links to crisis' possible underpinnings. Still not convinced, but there is only so much time in my day to watch/read.

I found here
http://www.prospect.org/cs/articles?article=did_liberals_cause_the_subprime_crisis

"As the University of Michigan's Michael Barr points out, half of sub-prime loans came from those mortgage companies beyond the reach of CRA. A further 25 to 30 percent came from bank subsidiaries and affiliates, which come under CRA to varying degrees but not as fully as banks themselves. (With affiliates, banks can choose whether to count the loans.) Perhaps one in four sub-prime loans were made by the institutions fully governed by CRA.

Most important, the lenders subject to CRA have engaged in less, not more, of the most dangerous lending."

undoubtedly fannie and freddie have problems, but CRA does not seem to be the only mover on the sub prime crisis.

from same article

"Janet Yellen, president of the San Francisco Federal Reserve, offers the killer statistic: Independent mortgage companies, which are not covered by CRA, made high-priced loans at more than twice the rate of the banks and thrifts. With this in mind, Yellen specifically rejects the "tendency to conflate the current problems in the sub-prime market with CRA-motivated lending.? CRA, Yellen says, "has increased the volume of responsible lending to low- and moderate-income households."