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To: Kiss Me Hardy

You know what?

Obama, ACORN, Barney et al were all party to the disaster. A HUGE party to the disaster.

But - the buck stops with George W Bush. Our President has failed us miserably.


4 posted on 10/10/2008 5:48:18 PM PDT by Velveeta
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To: Velveeta

Amen!


5 posted on 10/10/2008 5:49:17 PM PDT by Terry Mross
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To: Velveeta

Agree that Bush failed — buck stops there etc. But to gear an entire “investigative” article around the premise that it ONLY Bush’s fault takes the idea of fairness and buries it aat the bottm of the media manure pit.


7 posted on 10/10/2008 5:52:20 PM PDT by Kiss Me Hardy
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To: Velveeta; All

“But - the buck stops with George W Bush. Our President has failed us miserably.”

You know what, ignorance is bliss.

If you take Freddie and Fannie out of their central role in becoming the black hole into which the mortgage industry was asked, prodded, pleaded and pressured to create and sell to them over $4 trillion of new business in 4 years time, then (a)there could not have been the housing bubble, or (b) the scale of the sub-prime bubble, and thus no credit and liquidity crisis.

Now, who regulated Freddie and Fannie? The people the President appoints to the Federal Reserve? No. The people the President appoints to the SEC? No. The people who run the FDIC? No. The people at the Comptroller of the currency? No. State regulators? No.

Fred & Fan had a separate regulator, established by, appointed by, under the sole control of and responsible to one outfit and no one else - by law - Congress. Period.

Administration Treasurer’s in 2000, 2002, 2003 and 2005 signaled the warnings. Alan Greenspan signaled the warning in 2003. Some Republican leaders, with the President and the Treasury’s support held hearings in 2002, 2003 and 2005 with recommendations to reign in Fred and Fan. Opposition was led by Democrats. Barney Rubble Frank said he wanted to “roll the dice” with Fred and Fan.

The rest is history.

The fact that the media did not shout it to the roof tops when those pushing for reform were heard - including the administration - does not make it the President’s fault that you were not informed and not given the importance of the issue when reform was called for.


19 posted on 10/10/2008 6:09:20 PM PDT by Wuli
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