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September 26, 2008

The History of the Economic Meltdown

It's no wonder we get vague, convoluted hogwash from the media instead of an accurate description of how the economic crisis came about. The true story isn't all that complicated, but if it were known, the Democrat Party would be finished for a generation.

On a tip from Smoke TNT.

Posted by Van Helsing at September 26, 2008 7:20 AM

Comments

Im sure they Republicans will be cranking out ads in the next several weeks with clips from Democrats who encouraged lending to people who really couldnt afford mortgages all in the name of helping the poor "buy" homes. The Barney Frank clip making the YouTube rounds in 2003 where he said Republicans demanding reform of Freddie and Fannie were being alarmist will be featured Im sure. Of course people from both parties are to blame but the Democrats act like it was alll the result of Bush. Granted, Bush should have stopped it even if it meant a government shutdown years ago, but the roots of it are firmly rooted in Democratic policies of increasing home ownership among the poor and minorities without thinking of how they were going to afford the mortgages. Of course bankers who lent the money and the people who irresponsibly borrowed it are to blame as well.

Posted by: General Jack D. Ripper at September 26, 2008 7:36 AM

I think that both parties are to blame republican and democrats check out this information from the whitehouse.gov and look for expanding homeownership
http://www.whitehouse.gov/news/releases/2004/08/20040809-9.html

I would just like to add that in 8 short years this administration has gone from a surplus of money to the largest debt in the history of the united states, and this was prior to meltdown, yet you want to blame it all on the democrats.

Again the cause of our current issue was the fault of both parties.

Posted by: Mrethiopian at September 26, 2008 7:38 AM

Very interesting information, and a killer soundtrack, too. And you can Google this information easily. Hats off to whomever created it!

Posted by: Murff at September 26, 2008 7:51 AM

sorry I forgot to add tags to my last post, but this URL proves exactly what Jack D Ripper is saying about the democrats but instead of the democrats being at the fault of pushing home ownership to people that could not afford it, it was George Bush!

Its proof right from the horses mouth.







A relative URL: Expanding Homeownership




Posted by: Anonymous at September 26, 2008 8:12 AM

This video is on LiveLeak now as well as YouTube. It's making the rounds already.

And Anon, it does state that both parties have dirt on their hands from this... please stop focusing all of the problems we face on one man. He cannot be responsible for anything and everything as is commonly suggested.

Posted by: Murff at September 26, 2008 9:16 AM

"I would just like to add that in 8 short years this administration has gone from a surplus of money to the largest debt in the history of the united states..."

Mrethiopian,
When the surplus was announced the DEMOCRATS wanted to create NEW SOCIAL PROGRAMS to spend it on. When the Republicans blocked this move, the Donkeys said that the surplus was used up by the tax refund. THEN they said that there NEVER WAS a surplus!

So the donkeys wanted to spend a NON-EXISTANT surplus on NEW social programs that would have required MORE TAX MONEY to pay for them for years to come?

I'm a REAL Democrat, by the way, not a Liberal/Socialist like your "heroes" and "heroines".

Posted by: KHarn at September 26, 2008 2:19 PM

Video removed from youtube. Not surprising. The claim is copyright, but I'm sure youtube went to Warner.

Still available for now here:
http://www.liveleak.com/view?i=658_1222431921

Posted by: Melvin_Udall at September 29, 2008 1:44 PM

Yo Murff I’m not a democrat, I’m a registered independent and will continue to be for the rest of my life.

PS You judge me based on one comment you don’t have a clue do you?

Posted by: MrEthiopian at October 2, 2008 9:58 PM