I challenge you to check your facts. The recession began as a result of the subprime mortgage meltdown. Even you all can understand that. But just because the “meltdown” occurred while Bush was in office, does not mean his actions caused it. Subprime mortgages began in the late 90’s when the Clinton Administration pressured banks (via Fannie Mae) to ease credit requirements for home mortgages to less qualified buyers. The move was an effort to extend mortgages to more or all Americans. And they certainly achieved that. Boy did they hand out loans!

Here’s some documentation for you, lest you think I’m just blowing smoke up your ***

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&scp=1&sq=September%2030,%201999&st=cse

http://www.nytimes.com/2008/03/19/business/19leonhardt.html?pagewanted=1&ei=5124&en=e0d85f3722f4ca36&ex=1363752000&partner=permalink&exprod=permalink

We now have millions of people who bought houses they could not afford…and we (well, I) have to pay for their (the borrowers AND the banks) stupidity. Bush’s mistake in this regard was that he did not instigate a push to re-tighten the lending requirements to previous standards. But of course if Bush had done that, he would’ve been seen as “mean,” and I know you don’t like mean people.

Obama is nice. He says everything we want to hear.

The only reason they have caught on now is because their friends have asked for money. You know the bailout. Or as I think of it as the last final robbery of the American public before they close the door.

They didn’t have to go without medication so they could afford their groceries.

They didn’t fall behind on their car payment because they lost their job.

They didn’t have to apply for a mortgage modification because their COBRA insurance payments were exorbitantly high.

It wasn’t until Wall Street crashed that the recession affected them.

-AF
Andrew Sullivan Is A Fraud

I’m sorry it’s happening, of course,” Bush said in a wide-ranging interview with ABC’s “World News,” which was airing Monday. “Obviously I don’t like the idea of people losing jobs, or being worried about their 401(k)s. On the other hand, the American people got to know that we will safeguard the system. I mean, we’re in. And if we need to be in more, we will.”
Bush sorry economic crisis has cut jobs, 401 (k)s

I am still trying to understand where Bush says he feels “remorseful”. He talks about the crisis as if he had nothing to do with it whatsoever, and his own policies hadn’t caused it.

Of course he is sorry it is happening. We all are. The difference is he bears responsibility for it. What a complete fool this man is.

Let’s face it, Bu$h’s handlers scored a silent coup in 2000. They waltzed in thinking they could create their own reality, spoon feed the masses whatever they wanted us to hear, and basically do WHATEVER THE HELL THEY WANTED TO DO, WITH STILL NO ACCOUNTABILITY.

Yup, right here in the good ‘ole U S of A.

Let this be a very hard lesson learned. Do not elect people that hate government to represent you in the government. Pretty simple really.

The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
“Expect fallout, expect foreclosures, expect horror stories,” California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job.
AP IMPACT: They warned us, but US eased loan rules

The Bush administration will try to use the ever-handy “nobody could have predicted” excuse any day now, if they haven’t already…

/snark off

They didn’t just deny the reality that hose of us on Main Street already understood, they projected their own delusions all the more.

Let’s face it, folks — the apple didn’t fall far from the tree at all when it comes to the Bush family. It’s exactly the same circus in an almost identical tent — the only difference is a considerably less competent ringmaster. What’s that old quote by George Santayana — “those who cannot remember the past are condemned to repeat it”? Well, I’d say that it has certainly been proven true in this instance. We’re facing many of the same issues we faced when Poppy was President (recession, failing financial institutions, a war in Iraq) — only more intensely so, because we apparently didn’t learn our lessons well enough the first time around.

The End of an Error