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The fact that the Dems took so long to get back into power after having proven their incompetence is my concern for the GOP. Do we really want 20-30 years of Dem dominance?

In terms of “taking responsibility for mistakes” I agree that dragging up the past can be detrimental on the one hand, but this add basically attempts to deny that a GOP President who for all but 2 years had a GOP Congress ushered in the current era.

It doesn’t pass the believability gap and all but the most intense partisians (no lack of them here) and the most ignorant sheeple would see this add as anything but an attempt to abscond from the decisions (or lack thereof) that played no small role in the current situation.

The excuse that the policies were promoted by Democrats doesn’t pass the laugh test. If the GOP are the adults and the adults were completely in charge for 6 years, why didn’t they establish a system by which the children were properly disciplined?

I am a retired bank auditor and accountant. There is much in this ad that is truth, and it needs to be told. The democrats planted the seeds, and the Republicans failed to turn off the water, so the weeds grew like wildfire.

The CRA played a part as did other actions such as the repeal of the Glass-Stegal Act during the Clinton administration, for example.(Aided and abetted by the Republicans).

Sarbanes-Oxley and the SEC played their part especially with the “mark to market” requirements and the demise of the “uptick rule”.

It is not the first time that the desire to provide “affordable housing” has led to unwise government programs which brought down the economy-it seems to be a recurrent problem.

Those who do not know history are doomed to repeat it. Economics and financial history are not generally taught and required in the high schools, so many voters have no clue. In fact most congress critters don’t have a clue when it comes to economics and finance.

It is easier to simply blame whoever happens to be in charge at the moment without investigating to determine the real cause of problems. Such scapegoating doesn’t lead to meaningful solutions.

It also serves no purpose for Republicans to accept blame for the whole mess, because there is plenty of blame to go around in both parties. If the Republicans want to make a comeback, they need to grow a spine and stand up and do what is right for the American people-stop the rampant government spending for starters.

I agree with almost all your points, and certainly with reference to the CRA. Fannie Mae was a corrupt enterprise, especially with Raines and Emanuel and that loathsome woman, whose name I can’t remember right now. Not mention the obstruction of Frank with regard to the regulators

But that train has left the station for most people. We know what the facts are, but the argument is too complex for the majority of voters. And to those on the left, they don’t care!!!

So I’m back to my original point. In a year, if things continue, most people will have forgotten the failed Republican years.

Politicians know this and count on the fickleness of the American voter, and are rarely disappointed.

I doubt we’re looking at 20 to 30 years of Dem dominance, mainly because the current situation is unstable and likely to correct itself more quickly. You have to remember that back in the day, the Democrat party was broad and patriotic and truly represented the American mainstream. The Republicans were a narrow elitist party. In a sense the Democrats deserved their many decades of dominance. That is not the case anymore. The parties are much more balanced now. They both appeal to large constituencies with neither being the 600 pound gorilla that the Democrats used to be. As such, it simply is not natural for the Democrats to dominate as they do at the moment. The biggest fluke leading to the present situation was George Bush who managed to anger both liberals and conservatives with his big spending ways. But he will be forgotten, and besides, Obama — the second fluke for obvious reasons — is making Bush look like a cheapskate. You can tell the Democrats know they have a limited window of opportunity because of their firesale legislative strategy. They are not acting like a party that sees itself as entrenched for the long term.