Ryan, Too true!
And the Democratic Congress has nothing to do with the fiscal mess? Good job Barney
http://hubpolitics.com/2008/09/25/in-2003-barney-frank-said-fannie-and-freddie-were-financially-sound-opposed-regulation-and-reform/Or Go to hubpolitics.com and watch the video with second story.You are intellectually lazy my liberal friend.
Boy...talk about a narrow focus and a total non-knowlege of history and the financial consequences of what started in the Clinton years and was gleefully carried on by Bush II. Ryan...get off your duff and do some real reasearch. Why BOTH parties are rushing for another, and only larger band aide, is they are BOTH willing partners in this mess. Clue. It won't work.A few months ago a minor bail out happened and that drifted into the Freddie and Fannie bail out, infusion into money market stabilization and now this final non glory hole.You want to believe this is the bottom? be my guest. You want to think this is one party issue? Be my guest. I'll give you the real dope and not the talking heads feel good that has been going on for a year. This is just the beginning. This is like domino's. Think of all that paper being held from the Swiss to the Gemans to the Chinese to the Japanese. It'll be worthless in a few months. WaMu is gone. Lehman is gone. Even Buffett is tossing away 5Mil in a vain attempt to boost confidence. A latter day J.P. Morgan move (look it up). Best bet is your mattress until inflation goes nuts and price controls are instituted. Obama won't have the "balls" for that.
Does Barney Frank and a few other democrats have a stake in this mess? Of course they do. But Presidents lead policy (and can veto it) - and the policies that were enacted that led to this mess were written when Republicans were in charge of all three branches, fueled by the industry, their lobbyists and men like Phil Gramm. If Anons want to deny that, I have a bridge to no where I'd like to sell you.
Ry:Your intellectual dishonesty is showing.
Huh? Do the reasearch and get off your one sided political bandawagon. That approach is so full of it I won't even bother following up on that crap. I've been a financial planner and banker for longer than you have been alive, son, so try these two thoughts:Greedslip shod credit requirementsWent on for the last 15 years boosted by the idea of home ownership for everyone. (hello! Bill Clinton!). You seem to think it's a one party issue? Based on what I have seen of this blog your specific grasp of this point in history is seriously flawed. Do some research instead of pandering to the dead end of mindless party politics. Blame game in this is for everyone.
You have a bridge to nowhere to sell us? Well, at least I'll already have 2 votes for it, considering Obama and Biden voted for the first one.
Ry:You are the "liberal lion" of the blogging world. Raed Jacoby today.
Ryan, I'm with you! Those damn liberals did all of this with a Republican majority in both houses and the current filibustering Senate and a Republican President in the White House! But we all know it's Bill Clinton's fault and in the intervening 8 years, the Republicans and their wise advisors couldn't correct all that Clinton did. Too impressive!20 years from now, the same folks will be blaming Clinton!
Ryan is so one-sided, that's his problem. Both parties screwed up at various times and sometimes in collusion with each other. That's what going on now. Frank, Pelosi and Bush are climbing into bed with each other so quick on this one we're all in trouble. If Ross Perot had been elected none of this would have happened.
Hey Anon 8:18, thanks for the kind words. One question though: which Jacoby? Jeff Jacoby? (Scary thought.)Josephine: LOL. Anon 5:28,I think you fail to understand me. Sure, I'm super partisan. Sure, I think that the answer to most of this country's problems comes from the left. However, don't assume I'm happy with the status quo in the Democratic Party. While I'm partisan, I think the primary process is not only important, but should be encouraged. Any Democrats who give Wall Street a Blank Check from the American People without gauranteeing we aren't going to lose that money and without solving the problems that lead to this mess will, quite frankly, deserve a tough primary on that one issue alone.
Anon 8:18 - did you mean this Jacoby?
Jeff Jacoby..Boston Globe. He's not a fan of Barney, but you knew that. I'll bet you are not a fan of Jeff.
Ryan, maybe you should check out some of the history of financial deregulation. Some of the things Clinton did such as signing the Gramm-Leach-Bliley Financial Services Modernization Act have now come back to bite us in the ***. To blame Bush is simplistic, though he should have done more to re-regulate these institutions while he was at the helm.
Ryan does not care about the truth. It's all about bashing Republicans regardless of the facts. One is reminded of the Kerry Healey mess he got involved in. Shame!
And now Ryan becomes quiet. Oh no the big bad Republicans weren't the sole cause of our problems. Sometimes the man behind the curtain is a beloved Democrat. (And as you said a President leads by policy, wonderful Bill couldn't have been leading us down the wrong path)
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