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New study confirms economy was destroyed by Democrat policies

Liberty 2012/12/22 14:22:31

A new study
from the widely respected National Bureau of Economic Research released
this week has confirmed beyond question that the left's race-baiting
attacks on the housing market (the Community Reinvestment Act--enacted
under Carter, made shockingly more aggressive under Clinton) is
directly responsible for imploding the housing market and destroying the
economy.


The study painstakingly sorted through failed home loans that caused
the housing market collapse and identified an overwhelming connection
between them and CRA mortgages.


Again, let's review:


-President Bush went
to Congress repeatedly for years warning them that Fannie Mae and
Freddie Mac were going to destroy the economy (17 times in 2008 alone).
Democrats continuously ignored him, shut down his proposals along party
lines and continued raiding the institutions for campaign contributions on their way down.


-John McCain also co-sponsored
urgently critical reforms that would have prevented the housing market
collapse, but Democrats shut that down as well, along party lines, and
even openly ridiculed
anyone who suggested reforms were necessary...to protect their
taxpayer-funded campaign contributions as the economy raced
uncontrollably toward the cliff.


-No one was making bad loans to unqualified people until Democrats came along and threatened
to drag banks into court and have them fined and branded as racists if
they didn't go along with the left's Affirmative Action lending
policies...all while federally insuring their losses. Even the New York
Times warned in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.


-Obama himself is even on the record personally helping sue one
lender (Citibank) into lowering its lending standards to include people
from extremely poor and unstable areas, which even one of the left's
favorite blatantly partisan "fact-checkers," Snopes, admits (while pretending to 'set the record straight').


-Even The New York Times admitted
that there is "little evidence" of any connection between the
"Republican" deregulation measures Obama blames, like the
Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse
of the housing market.


But non-Fox media have spent years deliberately and relentlessly
inoculating people against the facts, training them to mindlessly blame
Bush for being in charge when Democrat policies destroyed the economy.
So here we sit, to this day, still watching Obama excuse and shrug off
endless economic failures, illegal government takeovers and utter
national bankruptcy with zero accountability.

Read More: http://www.examiner.com/article/new-study-confirms...

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  • Rusty Bubbles 2012/12/22 14:49:15
    Rusty Bubbles
    +9
    When someone comes into a bank wearing a paper hat and name tag looking for a $200,000 home loan....... red flags should have gone up, but were held down by the liberals/progressives

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  • pagan 2012/12/23 04:57:08
  • Kaleokualoha 2012/12/23 04:19:07
    Kaleokualoha
    My, what an ACTIVE imagination! The economy was not "destroyed." It was damaged, which is an entirely different thing!
  • Liberty Kaleoku... 2012/12/23 16:06:28
    Liberty
    The only active imagination is the person who thinks that we are better off today with this insane administration ..not sure if that'e an active imagination or insanity
  • Kaleoku... Liberty 2012/12/23 20:30:47
    Kaleokualoha
    Whether or not we are "better off today" is a red herring. The point of contention, Grasshoppa, is the fraudulent claim that the economy "was destroyed by democratic policies." The economy was NOT "destroyed," because it continued to operate. FYI:

    [QUOTE]
    de·stroy [dih-stroi] Show IPA
    verb (used with object)
    1. to reduce (an object) to useless fragments, a useless form, or remains, as by rending, burning, or dissolving; injure beyond repair or renewal; demolish; ruin; annihilate.
    2. to put an end to; extinguish.
    3. to kill; slay.
    4. to render ineffective or useless; nullify; neutralize; invalidate.
    5. to defeat completely.
    [END QUOTE http://dictionary.reference.c... ]

    You can't make up your own definitions to fit your propaganda purposes, Grasshoppa! People are increasingly aware of this intellectual dishonesty. Such rhetorical deception was highlighted in the story of Alice's adventures in "Through The Looking-Glass,"

    "When I use a word," Humpty Dumpty said in rather a scornful tone. "It means just what I choose it to mean - neither more or less."
    "The question is," said Alice, "whether you can make words mean so many different things."
    "The question is," said Humpty Dumpty, "which is to be master - that's all."
    - Lewis Carroll, English author & recreational mathematician (1832 - ...





    Whether or not we are "better off today" is a red herring. The point of contention, Grasshoppa, is the fraudulent claim that the economy "was destroyed by democratic policies." The economy was NOT "destroyed," because it continued to operate. FYI:

    [QUOTE]
    de·stroy [dih-stroi] Show IPA
    verb (used with object)
    1. to reduce (an object) to useless fragments, a useless form, or remains, as by rending, burning, or dissolving; injure beyond repair or renewal; demolish; ruin; annihilate.
    2. to put an end to; extinguish.
    3. to kill; slay.
    4. to render ineffective or useless; nullify; neutralize; invalidate.
    5. to defeat completely.
    [END QUOTE http://dictionary.reference.c... ]

    You can't make up your own definitions to fit your propaganda purposes, Grasshoppa! People are increasingly aware of this intellectual dishonesty. Such rhetorical deception was highlighted in the story of Alice's adventures in "Through The Looking-Glass,"

    "When I use a word," Humpty Dumpty said in rather a scornful tone. "It means just what I choose it to mean - neither more or less."
    "The question is," said Alice, "whether you can make words mean so many different things."
    "The question is," said Humpty Dumpty, "which is to be master - that's all."
    - Lewis Carroll, English author & recreational mathematician (1832 - 1898)

    Jumping to conclusions seems to be quite common in the fantasyland of the right-wing blogosphere. Such conclusions are drawn despite other likely explanations for the evidence presented. In the world of disinformation, speculation is misrepresented as fact.

    When asked to substantiate their conclusions, we may encounter bluster, red herrings, and ad hominem attacks more often than rational, focused answers. Military Intelligence students are quickly disabused of such behavior, and learn the value of supporting every conclusion they proffer. Researchers at the Rand Corporation and other highly regarded research institutions often come from such rigorous backgrounds, where conclusions are based on empirical evidence, rather than wishful thinking. It's a pity that blogosphere researchers and commentators are not held to similar high standards of accuracy.

    "Whoever is careless with the truth in small matters cannot be trusted with important matters." - Albert Einstein
    (more)
  • Liberty Kaleoku... 2012/12/23 21:23:57
    Liberty
    get help
  • Kaleoku... Liberty 2012/12/23 21:28:26
    Kaleokualoha
    I don't need help. I have integrity and I understand the English language!

    As predicted: "When asked to substantiate their conclusions, we may encounter bluster, red herrings, and ad hominem attacks more often than rational, focused answers."

    "If you have integrity, nothing else matters. If you don't have integrity, nothing else matters." - Alan Simpson
  • sue 2012/12/23 04:05:35
    sue
    +1
    democrats screw up everything
  • Nestofasssps 2012/12/23 00:57:41
    Nestofasssps
    do you actually have a link to that review??? by NBER? because you might wanna revisit it...and leave out the BS put out by the rest of the examiner link.
    it goes thru more than "democrat"s and you are misleading everyone...
  • Pm Nestofa... 2012/12/23 02:32:15
  • Nestofa... Pm 2012/12/23 11:01:59
    Nestofasssps
    oh Ive read it dear boy.
    Now what page and what line does it blame democrats like the examiner claims? And what about the the other non democrat "congress/presidents" were around during that time?? that were perfectly happy with the way things were going, ignoring the banks and what they were doing?
  • Pm Nestofa... 2012/12/24 04:29:02
    Pm
    Those policies were sponsored and pushed by dems. Carter and Clinton.
  • Nestofa... Pm 2012/12/24 11:27:35
  • Pm Nestofa... 2012/12/25 05:45:53
    Pm
    The majority of the right wing were against those policies. However, the entire GOP didn't feel the same and voted in favor of those bills. So, of course there are people on the right to blame. It takes congress to pass these bills without some bipartisan support no bill would ever pass.
  • Liberty Pm 2012/12/23 16:08:41
    Liberty
    +2
    they always want us to do their homework...You are spot on with saying lazy lib....they are too stupid and lazy to do their own research...Too bad...if they would just put forth a little effort, they just might find out the truth.
  • Pm Liberty 2012/12/24 04:29:40
    Pm
    +2
    they rather listen to Ed Schultz and MSNBC
  • Nestofa... Pm 2012/12/24 11:31:12
    Nestofasssps
    fox, drudge, et al is far too stupid to be taken seriously.
    Never watched ed schultz or MSNBC. I prefer a wider view....
    but keep up with the republitard guessing
  • Pm Nestofa... 2012/12/25 05:46:43
    Pm
    Sure you do.
  • Nestofa... Liberty 2012/12/24 11:29:23
    Nestofasssps
    screw you darlin, I looked up the research and thats how I know what the damn "research" said.
    Not taking responsibility for what YOUR side had to do with any of the financial crisis, is WHAT got us in this bloody mess.
  • Yo'Adrienne..AFCL 2012/12/23 00:49:58
    Yo'Adrienne..AFCL
    +1
    No kidding??????? Great post.! As 4-given said......."force feeding BAD RISK".....BINGO!
  • Pat 2012/12/23 00:48:20
    Pat
    +2
    Old news.

    But one can never convince those who don't WANT to be convinced.

    It's funny watching them try & explain how the Bush tax cuts caused the mortgage meltdown, though.
  • Wolf 2012/12/22 23:17:17
    Wolf
    +2
    Wow what a revelation ---was the Clinton Housing Policies and the irresponsible Lending Practices by Fannie and Freddie that gave it away---was it the large over spending on worthless projects and self enrichment of the massively bloated Public Sector and their millionaire pension scams---what is the clue for our over $20 Trillion in debt (Treasury and Fed) ---the #1 cause is the bloated Public Sector at the Federal, state and local levels with 50% over staffing and compensation and the millionaire pension fraud---
  • Yo'Adri... Wolf 2012/12/23 00:48:05 (edited)
    Yo'Adrienne..AFCL
    +1
    exactly right!
  • Patrick Moser 2012/12/22 22:51:32
    Patrick Moser
    LMAO.... WOW... That was one of the best cherry picking I seen lately

    Deregulation led to current bank collapse witch lead to recession banks collapse under Bush I can see how that would be the Democrats fault. TARP (bank bailout) is passed under Bush administration but is can see how that was Obama’s fault in side the conservative bubble.

    Ronald Reagan started the whole DEREGULATION OF THE SAVINGS & LOAN INDUSTRY and when he did, JOHN MCCAIN GOT HIS VERY OWN KEATING-5 SCANDAL TO SAY, “Thankya Ronnie!”.
    (Baby conservatives Goggle John McCain and S&L; Scandal to see how the Democrats were responsible for McCain in the 80s was taking donations (Bribes)

    Baby Conservatives only hear how His Majesty Reagan was the Greatest President ever! Conservatives that were around then also have amnesia when it comes to His Royal Highness. Conservatives also sell the idea that past presidents like Bush Jr have no affect on us today. In there scenario the second the new president takes office (as long as it’s a democrat) the last guy has nothing to do with anything that has or will happen, example on sep 11 2001 it took only days after attack to blame it on Clinton??? but the collapse of the banks that happened in the last months of eight years of Bush. WELL YOU SEE BUSH HAD NOTHING TO DO WIT...



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    LMAO.... WOW... That was one of the best cherry picking I seen lately

    Deregulation led to current bank collapse witch lead to recession banks collapse under Bush I can see how that would be the Democrats fault. TARP (bank bailout) is passed under Bush administration but is can see how that was Obama’s fault in side the conservative bubble.

    Ronald Reagan started the whole DEREGULATION OF THE SAVINGS & LOAN INDUSTRY and when he did, JOHN MCCAIN GOT HIS VERY OWN KEATING-5 SCANDAL TO SAY, “Thankya Ronnie!”.
    (Baby conservatives Goggle John McCain and S&L; Scandal to see how the Democrats were responsible for McCain in the 80s was taking donations (Bribes)

    Baby Conservatives only hear how His Majesty Reagan was the Greatest President ever! Conservatives that were around then also have amnesia when it comes to His Royal Highness. Conservatives also sell the idea that past presidents like Bush Jr have no affect on us today. In there scenario the second the new president takes office (as long as it’s a democrat) the last guy has nothing to do with anything that has or will happen, example on sep 11 2001 it took only days after attack to blame it on Clinton??? but the collapse of the banks that happened in the last months of eight years of Bush. WELL YOU SEE BUSH HAD NOTHING TO DO WITH THE AFTER AFFECTS OF THE COLLAPS ???? Sorry I know we are not allowed to mentions Jr's name, he is in the tea baggy witness protection.

    What Caused the Savings and Loans Crisis?: of the 1980 (it was a warring ignored)
    Savings and Loans were specialized banks that used low-interest, but Federally-insured, deposits in savings accounts to fund mortgages. In the 1980's, the popularity of money market accounts reduced the attractiveness of savings accounts, so the banks asked Congress to remove restrictions. In 1982,
    In an attempt to raise capital, banks invested in Speculative real estate and commercial loans. (Sound familiar) Between 1982 and 1985, these assets increased 56%. In Texas, 40 S&L;'s tripled in size, some growing 100% each year.
    By 1983, 35% of the country's S&L;'s weren't profitable, and 9% were technically bankrupt.

    By 1989, Congress and the president knew they needed to bail out the industry. agreed on a taxpayer-financed bailout measure known as the FIRREA provided $50 billion to close failed banks and stop further losses.

    How Much Did the Savings and Loans Crisis Cost?:

    Between 1986-1995, over 1,000 banks with total assets of over $500 billion failed. By 1999, the Crisis cost $153 billion, with taxpayers footing the bill for $124 billion, and the S&L; industry paying the rest.

    Recap Reagan deregulates the savings and loan industry it collapses due to greed and bad investment allowed to be made because of the deregulation- tax payers bail out savings and loan. His Majesty was never blamed instead they blame the Democrats... Sound Familiar

    In the autumn of 1929, a frenzied decade of stock speculation came to a dramatic conclusion when companies on the New York Stock Exchange lost roughly 40 percent of their value in a two-month period. At the time, only two percent of Americans held equity positions in public companies.

    From the time FDR put regulation on the banks there were few to no collapses and when there were the depositors were protected because of FDR then enter the stage His Royal Highness Ronald Reagan and deregulation was all the rage, you see conservatives still cant bring themselves to realize it was Reagan that was most responsible for the collapse of the banks greed mongers on wall street ...Fine we need greed mongers but the greed mongers need rules and a leash to protect the American people from there greed.

    When you hear “Savings & Loan Scandal” when you think of collaps of the banks and wall street in 2008 think: REPUBLICAN ORIGINATED SCANDAL. Thank you. When you hear the republicans complaining that it’s not their party who is to blame and how it’s the Democrats fault instead, just laugh and point at them!



    Sources:
    susmitkumar.net/index
    charlestoncitypaper.com/charl...
    whitenoiseinsanity.com/2008/0...

    can of worms
    (more)
  • Pat Patrick... 2012/12/23 00:51:08
    Pat
    The banks could have failed & been bailed out earlier, or allowed to sell these mortgages bundled so they had to be bailed out later....taking all who invested in them (including our pensioners) down.

    Wall Street's doing FINE.
  • Pm Patrick... 2012/12/23 02:33:01
    Pm
    all hate no substance
  • JCD aka "biz" 2012/12/22 22:37:58 (edited)
    JCD aka "biz"
    The "respected" (says "Human Events") NBER also declared in september 2010 that the "Great Recession" had ended in 2009. Who was president of the US of A in 2009?
  • Studied 2012/12/22 22:30:19
    Studied
    +1
    Surprise, Surprise. Anyone who needed the respected National Bureau of Economic Research to tell them this has not been paying any attention to the details of what was going on and still is.
  • 4Given 2012/12/22 20:53:35
    4Given
    +1
    Right on the money. What different result could be expected when you force-feed bad risk. When the NY Times can't even manufacture evidence to support a link to Republican policy, that is the icing on the cake.
  • drsardonicas 2012/12/22 20:00:16
    drsardonicas
    +4
    You can't make liberals understand, you simply can't. It is just asking too much.
  • Liberty drsardo... 2012/12/22 21:48:27
    Liberty
    +1
    and you can't argue with idiots...they are all brain dead
  • Mr.Jack 2012/12/22 19:31:52
  • Lerro D... Mr.Jack 2012/12/22 23:14:34
    Lerro DeHazel
    +3
    EVERYTHING that you stated is EXACTLY RIGHT . . . I have seen it over the course of recent years right here in my "kind of protected neighborhood" (as I am so reluctant to use as a cautious title) . . . I am not kidding. I NEVER would have thought that such a thing could happen here up on this hill, in San Francisco . . . But I have seen more "move-ins-Foreclosure Signs-move-outs" than I could even keep count of . . . I could not keep count of them all because sometimes I would count one, when actually, right behind that one came another one IN THE EXACT SAME HOME!!!! For that reason; I would lose count!!! . . . I am not kidding you. It happened here during the Chris Dodd, Barney Frank, Fanni Mae, Freddi Mac FIASCO!!!! Bush had NOTHING to do with it! I never really liked Bush. I probably wouldn't have liked Abraham Lincoln, either; all because Abe was NOT Conservative enough!!! Dodd-Frank-Waters SUCK!!!! We need to have the TRUTH on this to come out of hiding!!!
  • Mr.Jack Lerro D... 2012/12/22 23:28:31
  • Lerro D... Mr.Jack 2012/12/22 23:54:26
    Lerro DeHazel
    +1
    I would not have believed THAT if I didn't see it myself. I always felt that the Banking and Finance Business here in the USA is somewhat of an "Untaouchable" . . And that it was the real nuts-and-bolts of our strong, and although occasionally threatened, but not really vulnerable ECONOMY; that the rest of the planet can only be so envious of. Boy! Was I EVER WRONG!!!! We are in trouble. I mean some serious trouble, too!!! It's even worse than previously imagined. Here is the thing . . . It is not down the road for what to expect if we don't react now . . . IT IS HERE NOW!!!!
  • Mr.Jack Lerro D... 2012/12/23 00:26:18
  • Lerro D... Mr.Jack 2012/12/23 00:59:49
    Lerro DeHazel
    +1
    As far as Holder's Fast & Furious fiasco; no one ever even blinked. Where are the likes of Bernstein & Woodward? I use to think (But NOT Asking For) "Revolution" . . . But, seriously, I don't even think that's possible now . . .
  • Mr.Jack Lerro D... 2012/12/23 02:38:43
  • Bite my shiny metal ass 2012/12/22 19:01:57
  • les_gvt Bite my... 2012/12/22 21:26:20
    les_gvt
    +1
    isn't it interesting that your [pretty little lines went up dramatically when the Repugs controlled Congress, and the went down when the Terrorcrats took over. notice that even under Obummer, it picked up once the Repugs took back the House
  • Bite my... les_gvt 2012/12/23 16:04:24
    Bite my shiny metal ass
    first pic,jobs increase under democrats
    second: points gained in stock market under dems and pubs,dems gain over 6x more points than pubs
    third: unemployment rate on election day,under dem presidents,unemployment rate lower,pubs higher
    wtf do you elephant lovers dont get?

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