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Who Is Most Responsible For the Fall of Wall Street, Republicans or Democrats?

Not Einstein 2008/09/19 18:12:57
Republicans.  They have held the majority in Congress and the White House for the last 8 years.
Democrats, even though the economy flourished under the last Dem majority in Congress with a Dem Pres.
Both
Neither
Undecided
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Right wingers say it's the Democrat's fault because they have been in the Congressional majority for the past 20 months. Left wingers believe it the problem began long before that, when the Congressional majority was held by Republicans and we also had a Republican President. Here are the numbers, you decide:

Congress President
Rep Majority 109th 2005-2007 George W Bush - R
108th 2003-2005 George W Bush - R
107th 2001-2003 George W Bush - R
106th 1999-2001 William J Clinton - D
105th 1997-1999 William J Clinton - D
104th 1995-1997 William J Clinton - D


Dem Majority 110th 2007-2008 George W Bush - R
103rd 1993-1995 William J Clinton - D
102nd1991-1993 George HW Bush - R
101st 1989-1991 George HW Bush - R
100th 1987-1989 Ronald Reagan - R
99th 1985-1987 Ronald Reagan - R
98th 1983-1985 Ronald Reagan - R
97th 1981-1983 Ronald Reagan - R
96th 1979-1981 Jimmy Carter - D
95th 1977-1979 Jimmy Carter - R
94th 1975-1977 Gerald Ford - R
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Top Opinion

  • usmarshall 2008/09/19 20:14:03
    Neither
    usmarshall
    +3
    it's greedy execs at the companies that took on bad debt just because they didn't want other companies to sign more debt then them. It made the balance sheet look good in the short term and they (taxpayers) are paying for it now.

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  • Bring it ~STS~Freewill Dirt... 2008/09/29 04:39:07
    Both
    Bring it ~STS~Freewill Dirty Pheonix
    +1
    Both of course! lol
  • Edventure 2008/09/20 20:24:09
    Republicans. They have held the majority in Congress and the White House for...
    Edventure
    +1
    They legislated changes that resulted with the failures. Some of those changes were on regulations that were put in place after the great depression to prevent that from happening again.
  • gmanj77 2008/09/20 14:49:23
  • Jincks013 the Liberal Veteran 2008/09/20 13:15:08
    Republicans. They have held the majority in Congress and the White House for...
    Jincks013  the Liberal Veteran
    +1
    Republicans have held the whitehouse for 20 of the last 28 years.
    Republicans have held the Congress for 14 of the last 16 years.

    Do the math.
  • ZEKE 2008/09/20 12:13:40
    Both
    ZEKE
    +1
    Neither party does anything that the people back home have elected them to do. We need to get government back on check. Here if Florida we have term limits for our state government and it works great. People like Teddy Kennedy get reelected so much that they loses reality with the people. Not to pick on Teddy boy but just take a good look at him and the rest here on Gilligan Island!
  • Smoking Gunn 2008/09/20 04:07:07
    Both
    Smoking Gunn
    +1
    Republicans... Democrats... Both Gillty Of .... republicans democrats gillty
  • BAMAGIRL 2008/09/20 04:02:38
    Both
    BAMAGIRL
    +1
    Hmmm... I'm guessing most people already know the answer to this.
  • diaverde08-AmericanKilljoy 2008/09/20 03:14:00
    Both
    diaverde08-AmericanKilljoy
    +1
    They are equally responsible. Neither have done anything to stop the over-spending and inflation caused by printing bills that have no monetary value to back them by the Federal Reserve. Both have been spending more money than we can afford. Both have been borrowing from the Federal Reserve, making them print the bills that's causing the value of our savings to shrink.
    Neither have any right to point fingers. The blame game is over. federal reserve print bills causing savings shrink fingers blame game
  • vote mobile lady time to CYA 2008/09/20 00:06:32
    Republicans. They have held the majority in Congress and the White House for...
    vote mobile lady time to CYA
    +2
    Phi Gramm started with gwb,mcain and others the process of dreuglation 8 years aago and we re in bigpoop
  • Freedomwatcher 2008/09/19 22:11:45
    Neither
    Freedomwatcher
    +2
    Niether and both... for their outragous spending habits. But the sole responsibility lies with the Money and Credit creators. The Federal Reserve Bank. I think they alone and their fraudulent monetary scheme has been the sole purpose for the great depression and all the booms and busts. All I have to say is follow the money.
  • Freedom... Freedom... 2008/09/19 22:53:38
  • datakeats 2008/09/19 21:07:36
    Both
    datakeats
    America has been caught up in its own prosperity, that now when things go bad people need someone to blame. Well I say we're all at fault, myself included. I used to be an overspender who borrowed too much and couldn't make up the difference. All you need to do is watch an hour of tv and one of those credit consolidation commercials come on. Our entire financial system needs a credit consolidation.
  • Not Ein... datakeats 2008/09/19 21:22:30
    Not Einstein
    +2
    I have not used credit since the 1980s when I found myself $8K in debt. Since repaying all of it, I have lived on cash and carry only. I did not speculate on houses when many were doing so, flipping them for immediate profit. I get mail almost daily which begs me to take advantage of this or that credit card. I receive catalogs weekly, haranguing me to purchase from them with instant credit. I resist all of it and so do many, many others in this country. So, although I agree with your analysis to an extent, please do not lump me in with "all at fault." The greed started and ended at the top. I just want to know: WHO pocketed all the missing money? It didn't just disintegrate.
  • datakeats Not Ein... 2008/09/20 13:54:41
    datakeats
    +1
    I'm sorry if I have offended you. I handle the family budget and we use the envelope system, where we take the money out of our account and actually put in the envelope so we must have what we need to pay the bills each month. It has been difficult to make ends meet since my husband took a pay cut and I can only take so many hours from community nurses because I have a disabled child. We just paid our car off and have no plans to buy another one. Our credit consolidation loan will be paid off in May of 2009. We have a 500 dollar secure credit card. My husband sold his stock in July so we would have money to pay off some bills and stock up on food. Life has been tough. I just hope we stay afloat.
  • old mccain 2008/09/19 21:06:10
    Neither
    old mccain
    +1
    Obama will now convince both sides that regulation is necessary, it has been proven and he now can say 'I told you so'. When things are good, no one is at fault, Clinton years, when things go bad we point fingers, but in hindsight there are few that can say ' I told you" . Those are the ones both parties need to listen to.
  • BronxBob 2008/09/19 21:00:10 (edited)
    Neither
    BronxBob
    +2
    Wall Street. Better question: who is better able to help it recover -- Republicans or Democrats. And I'm not prepared answer that now, but I don't think bailouts and nationalizing private companies are the answer -- although that may mitigate some of the effects of the fall.
  • Kris 2008/09/19 20:39:15
    Republicans. They have held the majority in Congress and the White House for...
    Kris
    +1
    Its give, give, give and we are broke ,broke ,broke!
  • usmarshall 2008/09/19 20:14:03
    Neither
    usmarshall
    +3
    it's greedy execs at the companies that took on bad debt just because they didn't want other companies to sign more debt then them. It made the balance sheet look good in the short term and they (taxpayers) are paying for it now.
  • sally 2008/09/19 20:09:48
    Both
    sally
    +2
    And all of the greedy lenders.
  • RobAlb 2008/09/19 19:52:41
    Republicans. They have held the majority in Congress and the White House for...
    RobAlb
    +2
    It is really both their faults. But as I look at the course of policy making, I feel the Republican's role was more active. The Democrat's were more passive; they didn't speak up even when they wouldn't have written policies like that themselves. The roots of the meltdown go back MUCH further than eight years. It's more like 25 years. That's when the failed idea of trickle-down economics got its head of steam.
  • crsone 2008/09/19 19:00:39
    Both
    crsone
    +4
    I do fear that the Democrats went along with the deregulating mania of Reaganomics -- and that's where this started. So -- the idea was more Republican, but the facilitators came from both parties
  • RobAlb crsone 2008/09/19 19:54:07
    RobAlb
    +2
    You said almost the same thing I said using different words. More concise, too. I get so darn wordy!
  • crsone RobAlb 2008/09/19 23:29:10
    crsone
    +2
    Oh, I'm really wordy sometimes too. And I see that we did say the same thing -- I don't look below when I make my first post in a poll.
  • I'm Left, You're Wrong 2008/09/19 18:38:35
    Republicans. They have held the majority in Congress and the White House for...
    I'm Left, You're Wrong
    +2
    It's the Bush Economy.
  • Not Ein... I'm Lef... 2008/09/19 18:39:13
    Not Einstein
    +3
    Some of that there "fuzzy math?" Heh, heh.
  • NickName his Dudeness 2008/09/19 18:25:06
    Republicans. They have held the majority in Congress and the White House for...
    NickName his Dudeness
    +3
    All this talk about Dems controlling Congress the last two years is just another rightie smokescreen, especially since the majority has been so narrow that Republicans have been able to effectively block and abstruct all but the least controversial legislation (anybody who thinks for example that raising the minimum wage, or getting health insurance guarantees to children, or giving greater GI Bill benefits to veterans have precipitated this disaster is nuts).
  • micafe left SodaHead 2008/09/19 18:24:37 (edited)
    Both
    micafe left SodaHead
    +2
    There are good and bad people in both parties. Greed is one of the greatest threats in our society. After they get the first million, they want more and more.
  • Not Ein... micafe ... 2008/09/19 18:27:38
    Not Einstein
    +2
    I agree with you on the greed running rampant, micafe. Just HOW much is enough for these people? Or do they never have enough?
  • micafe ... Not Ein... 2008/09/19 18:41:40
    micafe left SodaHead
    +1
    Apparently not..:-(
  • Dammit Yammit 2008/09/19 18:22:42
    Both
    Dammit Yammit
    +1
    their both too blame !
  • Marky 2008/09/19 18:21:50
    Republicans. They have held the majority in Congress and the White House for...
    Marky
    +1
    Look out when we have a Republican president and a Congress overrun with Republicans! Yikes!

    Marky :o)
  • atmer 2008/09/19 18:21:42
    Both
    atmer
    +2
    Ratpublicans for pushing deregulation and Dems for letting it happen.
  • Sumo- Living for the new year! 2008/09/19 18:21:30
    Republicans. They have held the majority in Congress and the White House for...
    Sumo- Living for the new year!
    +1
    The republicans deregulated wall street. Now the people have to grin and bear it.>(
  • Warren - Novus Ordo Seclorum 2008/09/19 18:15:02
    Both
    Warren - Novus Ordo Seclorum
    +2
    Those in power who have been pushing for financial deregulation the last 25 years.

    power pushing financial deregulation 25 years
  • micafe ... Warren ... 2008/09/19 18:22:53
    micafe left SodaHead
    +1
    McCain was cleared of the charges and you and everybody else know it.
  • Not Ein... micafe ... 2008/09/19 18:23:28
    Not Einstein
    +2
    Were the charges cleared or was the evidence buried?
  • micafe ... Not Ein... 2008/09/19 18:39:20
    micafe left SodaHead
    Well, it's not for me to say. I have to believe in the American justice because otherwise I'll lose the little faith I have left in humankind.
    It's pretty ironic that the 3 senators that were found guilty were all Democrats, and John Glenn, also a Democrat was also cleared.
    Go figure.
  • Warren ... micafe ... 2008/09/19 18:25:40
    Warren - Novus Ordo Seclorum
    +1
    But has McCain ever denied pushing for the very same deregulations that got us into this mess?
  • Not Ein... Warren ... 2008/09/19 18:28:13
    Not Einstein
    +1
    Why no, Warren, he has not!
  • Jincks0... Not Ein... 2008/09/20 13:22:18
    Jincks013  the Liberal Veteran
    +1
    Get a towel for that egg on your face Warren:

    McCain introduced the Consumer Broadband Deregulation Act of 2002.

    Three years earlier, McCain had joined with other Republicans to push through landmark legislation sponsored by then-Sen. Phil Gramm (Tex.), who is now an economic adviser to his campaign. The Gramm-Leach-Bliley Act aimed to make the country's financial institutions competitive by removing the Depression-era walls between banking, investment and insurance companies.

    That bill allowed AIG to participate in the gold rush of a rapidly expanding global banking and investment market. But the legislation also helped pave the way for companies such as AIG and Lehman Brothers to become behemoths laden with bad loans and investments.

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