Archive Financial crisis was an “avoidable”

Belly35

Posts: 9,716

Jan 26, 2011 7:09am

Financial crisis was an “avoidable”

Great! Two years later a report and a blame game beings. You have the report and you know the problems now correct the situation for future generation to avoid the same crisis.
I see this as a positive step but without a plan of action ..worthless.
I’m not talking an agenda for socialism, world order or global financing ….do want American has done always... stand alone and do what right for America.

http://www.msnbc.msn.com/id/41268569/ns/business-the_new_york_times

Writerbuckeye

Posts: 4,745

Jan 26, 2011 5:27pm

It all started with a stupid policy by the Carter administration -- later pushed by the Clinton administration -- to get people into homes whether they truly qualified for mortgages or not.

One attempt to skew the natural order of the market by doing some social engineering nearly brought down the world's economic system. Hell, it still might.

Of course W was culpable, also, because he didn't do what was necessary to reign in this stupidity even when he must have known it was doing damage (he made one weak attempt but then dropped it).

But it was a liberal idea and program that did the damage and is at the core of all the problems that came later.

I

I Wear Pants

Posts: 16,223

Jan 26, 2011 7:36pm

The repeal of Glass-Steagall (Conservative idea) didn't help either.

Playing this "it was the liberals" game is ridiculous.

ptown_trojans_1

Posts: 7,632

Jan 26, 2011 8:18pm

I Wear Pants;654524 wrote:The repeal of Glass-Steagall (Conservative idea) didn't help either.

Playing this "it was the liberals" game is ridiculous.

It may have started in the Carter years, but the last 10 years helped a lot as well.

Belly35

Posts: 9,716

Jan 26, 2011 8:19pm

Poor people and entitlement was the problem ....solution get rid of poor people stop entitlement.

LJ

Posts: 16,351

Jan 26, 2011 8:21pm

Greenspan and his games were a large factor as well

Writerbuckeye

Posts: 4,745

Jan 26, 2011 10:03pm

LJ;654557 wrote:Greenspan and his games were a large factor as well

Hey, I realize big banks and their allies profited like crazy off the artificial boom that was created -- but it still all comes back to that policy. If that policy is never introduced, you don't have the snowball downhill that ended up taking place as people from all walks tried to grab a piece of the pie and make money.

The policy was introduced by liberals and accelerated all of us to the edge of the abyss by greed of all stripes.

dwccrew

Posts: 7,817

Jan 27, 2011 1:49am

Belly35;654556 wrote:Poor people and entitlement was the problem ....solution get rid of poor people stop entitlement.

How do you get rid of poor people?

B

BoatShoes

Posts: 5,703

Jan 27, 2011 8:42am

Writerbuckeye;654393 wrote:It all started with a stupid policy by the Carter administration -- later pushed by the Clinton administration -- to get people into homes whether they truly qualified for mortgages or not.

One attempt to skew the natural order of the market by doing some social engineering nearly brought down the world's economic system. Hell, it still might.

Of course W was culpable, also, because he didn't do what was necessary to reign in this stupidity even when he must have known it was doing damage (he made one weak attempt but then dropped it).

But it was a liberal idea and program that did the damage and is at the core of all the problems that came later.

I'm not saying you're wrong but that report in Belly's link seems to conclude that what you say was the major culprit didn't play a large role.

Belly35

Posts: 9,716

Jan 27, 2011 10:02am

dwccrew;654920 wrote:How do you get rid of poor people?

(Slowly) End the entitlement...

Answer this: What holds people back who are on welfare / government assistance?

Ty Webb

Posts: 2,798

Jan 27, 2011 10:14am

Writer and Belly.....it is completely and totally ignorant of you to say this was completely caused by Democrats and Republicans get off scott free from any responsibility.

Belly35

Posts: 9,716

Jan 27, 2011 11:09am

Ty Webb;655052 wrote:Writer and Belly.....it is completely and totally ignorant of you to say this was completely caused by Democrats and Republicans get off scott free from any responsibility.

What part of the root of the problem that you democrats don't want to take responsibility for?

Writerbuckeye

Posts: 4,745

Jan 27, 2011 11:12am

Ty Webb;655052 wrote:Writer and Belly.....it is completely and totally ignorant of you to say this was completely caused by Democrats and Republicans get off scott free from any responsibility.

You truly are blind or need remedial reading. I never said that. Try again. I said the ROOT of the problem was a liberal policy, not that Republicans were free of any blame in this. In fact, I mention W's failure to reign things in when he had a chance. Instead of trying again when Barney Frank and the black caucus rebuffed him the first time (trying to reign in Fannie and Freddie), he let it go. He should have made it a bigger deal publicly and not given up so easily.

Also, there were many greedy souls who profited after the train got going, and I included everyone in that. Big banks and their allies (which include Republicans).

jhay78

Posts: 1,917

Jan 27, 2011 12:29pm

Writerbuckeye;655091 wrote:You truly are blind or need remedial reading. I never said that. Try again. I said the ROOT of the problem was a liberal policy, not that Republicans were free of any blame in this. In fact, I mention W's failure to reign things in when he had a chance. Instead of trying again when Barney Frank and the black caucus rebuffed him the first time (trying to reign in Fannie and Freddie), he let it go. He should have made it a bigger deal publicly and not given up so easily.
Also, there were many greedy souls who profited after the train got going, and I included everyone in that. Big banks and their allies (which include Republicans).

That was one of my biggest pet peeves with W. When he was on the right side of an issue, he either didn't articulate it very well or didn't pound the table and make sure the public knew the facts and why his position was sound. Maybe he thought fighting a PR battle with today's media was a losing cause, so why bother.

But it wasn't just W- Republicans in Congress tried multiple times to reign in Fannie & Freddie, and were met with fierce resistance from the prophets of Utopianism who think everyone should own a home even if they can't afford it.

Ty Webb

Posts: 2,798

Jan 27, 2011 12:33pm

Belly35;655090 wrote:What part of the root of the problem that you democrats don't want to take responsibility for?

Did I say we aren't part of the problem?? No,but we are not 100% completely to blame

This only thing started under Reagan,and has continued under every president since....that is simple fact

You conservatives on here act like Ronald Reagan is the greatest president in history,but in reality he is the biggest culprit in what is going on right now

Belly35

Posts: 9,716

Jan 27, 2011 12:45pm

Ty Webb;655212 wrote:Did I say we aren't part of the problem?? No,but we are not 100% completely to blame

This only thing started under Reagan,and has continued under every president since....that is simple fact

You conservatives on here act like Ronald Reagan is the greatest president in history,but in reality he is the biggest culprit in what is going on right now

Don't you have to go burn some pallets in a 5O gallon drum somewhere?

Ty Webb

Posts: 2,798

Jan 27, 2011 12:50pm

Mad that I'm right Belly???

C

Con_Alma

Posts: 12,198

Jan 27, 2011 12:55pm

It's rare when a financial crisis wasn't avoidable if different actions were taken.

Writerbuckeye

Posts: 4,745

Jan 27, 2011 1:05pm

Ty Webb;655212 wrote:Did I say we aren't part of the problem?? No,but we are not 100% completely to blame

This only thing started under Reagan,and has continued under every president since....that is simple fact

You conservatives on here act like Ronald Reagan is the greatest president in history,but in reality he is the biggest culprit in what is going on right now

Explain what "this only thing" is that started under Reagan. You're ranting about Reagan without a lick of evidence (or anything) to back it up.

Ty Webb

Posts: 2,798

Jan 27, 2011 1:17pm

Meant "whole"

http://eideard.wordpress.com/2010/08/03/republican-economist-says-gop-caused-the-entire-economic-collapse/

http://hnn.us/articles/53527.html

http://www.politicalbull.net/economic_collapse_and_reaganomics.html

Some of you need to come into reality and understand that Reagan and his "Reaganomics" are the root cause of our current economic problems

Writerbuckeye

Posts: 4,745

Jan 27, 2011 2:44pm

Not worth responding to, on so many levels.

Belly35

Posts: 9,716

Jan 27, 2011 4:11pm

Writerbuckeye;655363 wrote:Not worth responding to, on so many levels.

Watch this: Unions are the second problem Ty and you're at the end of the food chain.... wood gather for picket line....

jhay78

Posts: 1,917

Jan 27, 2011 4:20pm

Writerbuckeye;655363 wrote:Not worth responding to, on so many levels.

No, but it's worth laughing at on so many levels!

believer

Posts: 8,153

Jan 28, 2011 3:46am

Ty Webb;655268 wrote:Meant "whole"

http://eideard.wordpress.com/2010/08/03/republican-economist-says-gop-caused-the-entire-economic-collapse/

http://hnn.us/articles/53527.html

http://www.politicalbull.net/economic_collapse_and_reaganomics.html

Some of you need to come into reality and understand that Reagan and his "Reaganomics" are the root cause of our current economic problems

Nice chuckle. Thanks, Gibsters.