Think about this. Until 2006, when Nancy Pelosi and the Democrats took over Congress, things were pretty darn good. After two years of the Democrat Congress blocking and raising a ruckus, Fannie and Freddie collapsed, taking everything with them. Carter had started the F&F type plans for giving mortgages to those who were bad risks. Clinton expanded on it, using the force of the Attorney General, Janet Reno, to enforce those types of loans - OR ELSE! - on banks and lending institutions. In 2006, McCain, Elizabeth Dole and other Republicans wanted to pass legislation that would have dealt with Fannie & Freddie, warning that a disaster was coming if they weren’t dealt with. Chris Dodd, Barney Frank, Barack Obama and the rest of the Democrats pooh-poohed saying, “nothing to see here, move along”. Fannie & Freddie was a big old goose that had laid a golden egg in their laps, and Obama was well on his way to collecting a lot of golden eggs from F&F. . not to mention other Clinton cronies from yesteryear who collected MILLIONS upon MILLIONS from F&F.
The truth is that the Democrats in Congress were mad as wet hens that they were being denied their BIRTHRIGHT to RULE this country. They knew they had set the country up for a recession, maybe even a depression. They didn’t care what their selfish hissy fit caused as long as they got back into their rightful place IN POWER.
Oh, and to any DU’ers on this thread. Obama isn’t going to pay your mortgage and fill your gas tank like he led you to believe, and when he bankrupts the coal industry, we will all be lucky to be able to pay our electric bill and get a few groceries. (Remember when that happens that Governor Palin served on an energy-related board, governs an energy rich state, and is an EXPERT on the subject. She is NOT Tina Fey.)
I agree entirely with your first paragraph. And here’s a point that should be repeated over and over:
“Think about this. Until 2006, when Nancy Pelosi and the Democrats took over Congress, things were pretty darn good.”
What was the DOW when the Democrats took over the Congress? What is it today?