Conservatives why should we forget what the Bush did to our country?
Like ignoring terrorism until 9/11/2001!
Or the recession started because of his meddling with the housing market!
He ordered Freddie and Fannie to make $600 billion available to first time minority home buyers!
Then he allowed them to buy without a down payment.
Then he allowed them to roll the closing costs into the loan!
Since that wasn't enough he saved them a couple hundred more by eliminating the regulation requiring mortgage companies to verify income!So all people had to do was show up with proper ID and make a statement of income!Bush claimed the mortgage companies would verify income on suspicious statements of income!
Which turned the housing market into a buyers market.Which in turn spurred the home building industry.Thereby keeping unemployed numbers down.
We all know how well that worked out!
Update:Joe---I did not say he he "grew" terrorism! I said he IGNORED terrorism!Please don't try twisting my words I am not a conservative drone!
Update 3:Why am I not surprised that not one conservative response attempted to answer the main question?
Answers & Comments
http://www.freerepublic.com/focus/f-news/2094023/p...
This is the verbatim speech Bush gave announcing his plans to expand home ownership for minorities. It isn't anything like you described it and there was no mention of $600 billion. It was $200 billion.
http://www.ehow.com/list_6755152_effects-banking-d...
This is an explanation of what caused the crash. It wasn't Bush's deregulation. It was the SEC.
Bush made $200 billion available for first time home buyers and home builders. The money for home buyers was partially from vouchers from the government that had been used for leasing section 8 housing. Freddie and Frannie, not government entities at the time, offered to lend more also. I'm sure it never entered his mind that bankers would ever make loans without proof of ability to repay them.
The deregulation you are talking about was actually a change in SEC rules that allowed banks to report their own capital on hand. They were then lending at a 30 to 1 ratio meaning they used vague terms such as "deferred taxes" which is a future amount, as part of their capital. Under these rules, they did not keep enough capital on hand which is actually what finally made it all come crashing down. The rest of the repeal of Glass Steagall that led to the mayhem was actually passed in 1999 with 90-8 in the Senate and only 57 in Congress voting against it. This was a very bipartisan bill. Blaming Bush just shows you have no desire to understand what happened. You just want to pin it on Bush.
I also considered 9-11 to be a failure of government but the things that were necessary to prevent such an attack were not permitted until after 9-11. Clinton asked for something resembling the Patriot Act as well but the Patriot Act was very unpopular as it was, even after the attacks we had already suffered. Still one would have thought we would have been much better prepared for an attack. That was not due to anything Bush did or did not do.
Bush had many failures, but the ones you point out belonged to others. Carter started "regulating" the mortgage market in the 70's. As someone pointed out, Barney Frank lied to Congress about their health not long before the breaking point. Even then, it wouldn't have gotten outta hand so quickly if interest rates weren't dropped to zero to keep our economy afloat after 9/11.
We all ignored terrorism. The Cole, consulates and the first WTC bombing. Why do you give Clinton the pass, but not Bush? I give Clinton the pass because before 9/11, no one thought they could hurt us that badly. Bushs major flaw was spending like a drunken sailor. Course, your hero Barry puts him to shame in that arena.
We were bombed during the Clinton administration that was the first time the twin towers were hit, Clinton did nothing, Clinton ignored it, Bush was only in office 6 months before 9/11, they new about Bin Laden for over 10 years or longer and Clinton sat on his a*s, he did however have a missile fired and hit a camel in the a*s. that's about it.
Not sure if you're joking or simply ignorant, but it was Democrats in Congress that did the vast majority of the stuff you've listed. Barney Frank blocked tighter regulation while his boyfriend ran one of those companies. As late as a few months before the collapse, good old Barney was all over tv telling anyone who would listen that Fannie and Freddie were rock solid.
"Bush" did not do any of those things -- at least, not alone. The REPUBLICAN Congress -- with the full support of you conservatives -- are the culprits.
You need to stop trying to shift the blame -- to Bush, Obama or anyone else -- and start taking responsibility for your won actions.
How could Bush have grown terrorism until september of 2011.
Clinton was the President for the eight years until Bush's inaugaration on January of 2011.
Bush was only President for eight months!
Clinton had numerous warnings and opportunites to take Bin Laden out and failed to do so.
It was the Democrats that collpased the economy. The ONLY thing Bush did wrong was rubber stamp those stupid ideas.
The new mantra in America coming from the gangster-capitalist elite is, "Get over it." Of course, that doesn't apply to the crimes committed by the underclass. It applies only to those committed by the ruling class.
How awful that he wanted more Americans to have the American dream of home ownership. He wanted to remove road blocked that kept the poor renting. He didn't expect them to buy homes 4 times what they could afford.
Why don't you have a problem with what obama is doing to the country.
he is much worst now.