How Congress set the stage for a fiscal meltdown

13 October 2008

[Lorianne]

Source cannot be posted due to copyrightitis. See link below.

[Lorianne]

http://www.usatoday.com/money/economy/2008-10-12-congress-meltdown_N.htm?csp=34

[FlingWingFlyer]

This is a good article. Surpising that it’s in USAToday.

[Lorianne]

Yes, very surprising

[Islander7]

USA Today

[Lorianne]

Thanks, gotta learn how to do that.

[ken21]

here are some html basics:

http://www.freerepublic.com/focus/f-news/1285967/posts

[Beowulf9]

You know, the d-rats are bad but sometimes I think a journalist is lower on the food chain.

For to sell papers all the news is fit to print.

Scandals sell, and the papers right now aren’t doing all that well.

[xjcsa]

Thanks, gotta learn how to do that.

Just enter the URL in the proper spot on the posting form.

[Soeharto]

I read somewhere that it was Obama, in fact, who set the stage for fiscal meltdown. Does anyone have the link to that?

[Big Horn]

The buck stops with the senator or representative, the lobbyist is paid to persuade them ,but ti is the elected congressman that makes the decision. If the lobbist give false information its the congressman that should be held responsible. Congress is loaded with good old boys.

[smokingfrog]

Phil Gramm shares a lot of blame for this (though he's not alone). Good thing he's not advising McCain any more.
Clinton at the helm did not want these derivatives/hedge funds regulated either.

I like that last paragraph about unrepentant Barney Frank.

[Kevmo]

bmflr

[DJ Frisat]

Obama had a role, through his work to pressure banks and mortgage companies to make the high risk loans that are part of the reason that this became such a mess. Much as we might like to nail him with it, however, there’s no way he could be considered the primary cause of the meltdown.

It took both parties, both houses of Congress and a couple of presidents, along with a Federal Reserve chairman, to really foul things up.

The Repubs are more complicit in the deregulation aspects, but the Dems are largely responsible for the Fannie Mae/Freddie Mac debacle, quashing regulation efforts, propping up corrupt FM/FM executives and trying to cover up their own incompetence/corruption.

The Dems have been particularly despicable, but there are many heads in Washington that should roll over this. Until the practices that created this mess are changed, it will continue. And leaving those who created it to clean it up is not the way to do it.

See “Fox Guards Henhouse”...

[Guenevere]

bttt

[tropical]

bttt

[A.A. Cunningham]

http://www.usatoday.com/money/economy/2008-10-12-congress-meltdown_N.htm?csp=34

[A.A. Cunningham]

Just enter the URL in the proper spot on the posting form.

The URL for blocked sites has to be posted in the Body of Thread section. If it's posted in the Source URL section the script prevents the post from being made.