Posted on 09/04/2011 10:24:05 AM PDT by Sons of Union Vets
From Fox News Channel
Wednesday, September 24, 2008
Special Report With Brit Hume
(Excerpt) Read more at youtube.com ...
Bush did warn them, but he didn’t make a big enough fuss and go public persistently on this. Fiscally, Bush was profligate and inattentive. Nothing like Obama, but still...
Thanks..I remember it well..and Barney Frank’s defense.
Look at us now!
Barney Frank and Schumer, among others I'm sure, should be in stockades for their roles in protecting Wall Street and creating the perfect storm that hit in 2008.
THANKS!!!
I was just arguing with some troll this morning about this very thing
Yes as usual the Republicans don’t go in for the kills when it’s obvious what’s happening. They surely had some power then.
Be great if there were some pit bulls to counter-attack the leftist mob.
I remember the video. They were not pushy enough. Barney Frank acted like he was their master and the other Asinine Aholes helped.
He was necessarily distracted by the post-9/11 world for years. It's unfortunate that he couldn't find his veto pen and trusted a corrupt Republican Congress a bit too much.
Even still, do you think he'd have been able to articulate and push action on this front when his Treasury Secretary and even Alan Greenspan could not get the Congress moving?
As the video showed McCain got a bill out of committee on a party-line vote and it never even reached the Senate floor. Barney Frank and Schmuck Schumer were like Baghdad Bob saying everything was wonderful and people were needlessly alarmist.
Schumer pushed the community reinvestment and bank modernization acts. He was neck deep with Wall Street.
Neither of these creeps should've survived the financial meltdown and housing crisis and yet Schumer won reelection handily in 2010. Frank's co-authored the economy killing Dodd-Frank regulatory fiasco. It's appalling.
I sure hope there is a way to preserve this video! We need to keep it in circulation and use it to challenge those revisionists who seem to have "forgotten" about the Democrat-controlled congress Bush had to deal with, and who insist on blaming Bush instead of Obama and his commie - crat confreres for the third world socialist craphole that they would make of these great United States of America.
Corrupt RINO's have indeed been a problem, but as I have previously mentioned, Congress was not always controlled by Republicans while Bush was President.
Bush may not have necessarily been a fiscal conservative, but he was hardly that species of hard core leftist radical that is currently occupying the White House.
Let us also recall the way in which Bush was denied the time he needed to adequately prepare for his presidency by properly vetting and putting his people in place because of the challenges to the election raised by that bloviating pantload Al Gore.
Remember the "hanging chads" fiasco???
When the GOP was in control of Congress, it seemed to do quite well:
GOP control of Congress = declining deficits. Let the Democrats get either chamber, and deficits increase. Get control of both, you get the meltdown that is today.
Note, too, that FY2009 was NOT signed by President Bush - he promised to veto it if Pelosi and Reid sent it to him. And thus they did not pass a budget until February 2009 and President Obama gladly signed it.
While the report is rather compelling, it somehow does not address how bills loosening the credit market passed the Republican House and Senate and was signed into law by President Bush.
And for some reason, it ignores comments made by President Bush in 2002 regarding home ownership.
“One of the barriers to homeownership is the inability to make a downpayment. And if one of the goals is to increase home-ownership, it makes sense to help people pay that downpayment. We believe that the amount of money in our budget, fully approved by Congress, will help 40,000 families every year realize the dream of owning a home.”
-George W. Bush
“And we want to fully implement the Section 8 housing program, homeownership program. The program will provide vouchers that first-time home buyers can use to help pay their mortgage or apply to their downpayment. Many of the partners today, many of the people here today, many of the business leaders here today are creating a market for the mortgages where Section 8 vouchers are a source of the payment, and that’s good. See, it’s an underpinning of capital. It helps move capital to where we want capital to go.”
-George W. Bush
“That’s why I’ve challenged the industry leaders all across the country to get after it for this goal, to stay focused, to make sure that we achieve a more secure America by achieving the goal of 5 1/2 million new minority homeowners. I call it America’s homeownership challenge.”
-George W. Bush
And let me talk about some of the progress which we have made to date, as an example for others to follow. First of all, Government-sponsored corporations that help create our mortgage system—I introduced two of the leaders here today; they call those people Fannie Mae and Freddie Mac—as well as the Federal Home Loan Banks will increase their commitment to minority markets by more than $440 billion. I want to thank Leland and Franklin for that commitment.
-George W. Bush
“Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments.”
-George W. Bush
http://www.presidency.ucsb.edu/ws/index.php?pid=62687#axzz1X0WZPLzQ
I sent this video to my Senator, Pat Roberts, during the summer of ‘08, when the economic mess was being blamed on Bush and the Republicans, and heard crickets. In a sense, the Republicans were at fault for not exposing it...they had/have it right on film. wtf
“First of all, Government-sponsored corporations that help create our mortgage system—I introduced two of the leaders here today; they call those people Fannie Mae and Freddie Mac—as well as the Federal Home Loan Banks will increase their commitment to minority markets by more than $440 billion. I want to thank Leland and Franklin for that commitment.”
George W. Bush
The above quote by George W, Bush does not quite strike me as something that would be said by a fiscal conservative who was opposed to expanding the government subsidized housing market.
While I generally agree with your conclusions, every President has to deal with what comes up and what has developed over the past few years. If Bush had a third term, or McCain had won in 2008, there would have still been a very large deficit due to the housing/finance induced depression. That took many years to develop into it’s full-blown form—maybe 20 to 25.
Nevertheless, Dem congresses and Dem presidents make things worse. I don’t believe that McCain would have gone for a union/government employee directed Porkulus bill, although there would have been significant recession induced stimulus. And, I believe McCain (or Bush if he could have been in office) wouldn’t have gone crazy with job killing and energy killing over-regulation.
While I generally agree with your conclusions, every President has to deal with what comes up and what has developed over the past few years. If Bush had a third term, or McCain had won in 2008, there would have still been a very large deficit due to the housing/finance induced depression. That took many years to develop into it’s full-blown form—maybe 20 to 25.
Nevertheless, Dem congresses and Dem presidents make things worse. I don’t believe that McCain would have gone for a union/government employee directed Porkulus bill, although there would have been significant recession induced stimulus. And, I believe McCain (or Bush if he could have been in office) wouldn’t have gone crazy with job killing and energy killing over-regulation.
Actually, Bush was attending to our national security...the main job of the CIC.
As for reforming housing...do you really think it could have been done with the Dems saying he was bigoted against minorities at every turn? You have to have members from the other party on board to make a radical change in the economy. Not to mention Nazi Pelosi taking over the purse strings in '06.
Yeah, and GOP Senators McCain, Dole, Hagel and Sununu sponsored a bill, to fix matters.
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005.
At the time the GOP had 51 seats in the Senate.
So Pres. Bush warns, moderate GOP Sen. members put forth a measure; where were the true conservatives I ask?
How was Bush attending to national security when he proposed that we spend 440 billion to help minorities buy homes?
Bush was good on security. But one of his first acts, IIRC, was to pledge something like ten or thirty billion in African related aid; then there was Medicare Part D, which didn’t help Medicare’s financial status. He didn’t use the veto pen at all until 2006!
And don't forget that one - House Committee hearing on the same issue. Democrats lambasting Republicans for suggesting there was anything wrong - one Dem called it a “lynching” and engaging in character assassination against a witness who was raising alarm bells.
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