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What Caused the Financial Meltdown?
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<blockquote data-quote="wkmac" data-source="post: 407030" data-attributes="member: 2189"><p>Full Text of President Bush's 2002 Speech:</p><p></p><p><a href="http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html" target="_blank"><span style="color: red"><strong>http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html</strong></span></a></p><p></p><p>Now, here's the President advocating home ownership in a way many today point towards at being at the core of the problem if we link back to CRA. Much to some's displeasure "Anon" has done a good job IMO of pointing out Bush's "ownership society" agenda and the speech above seems IMO to further enforce that POV. But I'm not here to carry democrat water (although I'm sure I'll be accused but so be it) because personally the more you want to shovel dirt on top of them (democrats)and bury them, I say hand me a shovel but I'm not so fast as to pull republican dirt to be thrown on the democrats. Here's what I mean.</p><p></p><p>This YouTube piece seems to be making quiet the rounds (I know posted here earlier) and it does lead one to come to the conclusion that republicans were on top of this and got roadblocked. I repost just for effect to make a later point.</p><p></p><p>Does seem pretty clear at first but let's consider some other facts in all of this. Over the last several days with the bailout, we've heard more and more people point out that the democrats have the votes just among themselves that they don't need the republicans to pass the bailout plan which Bush has already admitted he'll sign so no need for it to be veto proof. Yes this is true but reality the other day proved likewise. LOL!</p><p></p><p>I think today in the Senate we'll see the republicans cave and vote for the bailout, at least that's my expectation. One of my Senators is Saxby Chambliss who's carried Bush water from day one and the other Johnny Isakson is a major Real Estate for metro Atlanta so it's not hard to figure who that limp wrist will back in all of this. With Bush, Chambliss and Isakson in the same motel room with Pelosi paid for by the taxpayer, seems to me an orgy is about to take place but none of them will get screwed, it'll be you and me and the 4 of them will be on top and tust me, no orifice is safe either.</p><p></p><p>The point is, if the democrat numbers are true today to carry a vote over the top as so many republicans love to proclaim (and again that point is true), then would it not also be true that if the republicans, the President, John McCain all saw this train wreck back in 2004/2005 then why did they not propose legislation then when they controlled both houses of Congress, the White House and 7 of 9 Supreme Court Justices were republican nominees? Talk about home field advantge but did we see any changes, any proposed legislation, did any one step into the bully pulpit and strongly advocate and warn the American public? Did anyone have the actual guts to write up legislation and then step into the well and on the record propose doing something about this mess and even had the guts to go on record and forecast that if something did not change, that exactly what we are seeing would happen?</p><p></p><p>As a side note, I actually heard Rush Limbaugh yesterday for a few minutes on all this and as usual he was making his points that the democrats caused all of this and the republicans were in effect, spotless. No Rush, you might argue that it was democrats who entered the bank itself and robbed it at gunpoint but the republican party sat outside the bank and keep the getaway car running and even were the lookouts for the cops as they always knew what was going on inside the bank but never had the guts to make that bold step to stop it all except in the case of one lone republican that they call Dr. No!</p><p></p><p>In July 2002, over 6 years before this whole mess blew up and 2 years at least before the other Congressman in 2004' in the video caught on and McCain in 2005'</p><p></p><p>I give you HR 3071 from the 108th Congress, July 16, 2002'</p><p><a href="http://www.govtrack.us/congress/bill.xpd?tab=summary&bill=h108-3071" target="_blank"><span style="color: red"><strong>http://www.govtrack.us/congress/bill.xpd?tab=summary&bill=h108-3071</strong></span></a></p><p></p><p>Full Text of the Bill</p><p><a href="http://www.govtrack.us/congress/billtext.xpd?bill=h108-3071" target="_blank"><span style="color: red"><strong>http://www.govtrack.us/congress/billtext.xpd?bill=h108-3071</strong></span></a></p><p></p><p>And who was this lone Congressman who foresaw the chain of events ot come and tried to shield the taxpayer?</p><p></p><p>I give you Dr. No direct from the well addressing the congress and on the record, July 16th, 2002'!</p><p><strong><span style="color: red"><a href="https://web.archive.org/web/20021018082902/http://www.house.gov/paul/congrec/congrec2002/cr071602.htm" target="_blank">https://web.archive.org/web/20021018082902/http://www.house.gov/paul/congrec/congrec2002/cr071602.htm</a></span></strong></p><p></p><p>Notice the very last paragraph and this was said in July of 2002', over 6 years ago.</p><p></p><p></p><p></p><p>I think it's safe to say that looking where we are today that Dr. No got no support from his own party so to those who want to hold the republicans up as some kind of savior, let me just say,</p></blockquote><p></p>
[QUOTE="wkmac, post: 407030, member: 2189"] Full Text of President Bush's 2002 Speech: [URL='http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html'][COLOR=red][B]http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html[/B][/COLOR][/URL] Now, here's the President advocating home ownership in a way many today point towards at being at the core of the problem if we link back to CRA. Much to some's displeasure "Anon" has done a good job IMO of pointing out Bush's "ownership society" agenda and the speech above seems IMO to further enforce that POV. But I'm not here to carry democrat water (although I'm sure I'll be accused but so be it) because personally the more you want to shovel dirt on top of them (democrats)and bury them, I say hand me a shovel but I'm not so fast as to pull republican dirt to be thrown on the democrats. Here's what I mean. This YouTube piece seems to be making quiet the rounds (I know posted here earlier) and it does lead one to come to the conclusion that republicans were on top of this and got roadblocked. I repost just for effect to make a later point. Does seem pretty clear at first but let's consider some other facts in all of this. Over the last several days with the bailout, we've heard more and more people point out that the democrats have the votes just among themselves that they don't need the republicans to pass the bailout plan which Bush has already admitted he'll sign so no need for it to be veto proof. Yes this is true but reality the other day proved likewise. LOL! I think today in the Senate we'll see the republicans cave and vote for the bailout, at least that's my expectation. One of my Senators is Saxby Chambliss who's carried Bush water from day one and the other Johnny Isakson is a major Real Estate for metro Atlanta so it's not hard to figure who that limp wrist will back in all of this. With Bush, Chambliss and Isakson in the same motel room with Pelosi paid for by the taxpayer, seems to me an orgy is about to take place but none of them will get screwed, it'll be you and me and the 4 of them will be on top and tust me, no orifice is safe either. The point is, if the democrat numbers are true today to carry a vote over the top as so many republicans love to proclaim (and again that point is true), then would it not also be true that if the republicans, the President, John McCain all saw this train wreck back in 2004/2005 then why did they not propose legislation then when they controlled both houses of Congress, the White House and 7 of 9 Supreme Court Justices were republican nominees? Talk about home field advantge but did we see any changes, any proposed legislation, did any one step into the bully pulpit and strongly advocate and warn the American public? Did anyone have the actual guts to write up legislation and then step into the well and on the record propose doing something about this mess and even had the guts to go on record and forecast that if something did not change, that exactly what we are seeing would happen? As a side note, I actually heard Rush Limbaugh yesterday for a few minutes on all this and as usual he was making his points that the democrats caused all of this and the republicans were in effect, spotless. No Rush, you might argue that it was democrats who entered the bank itself and robbed it at gunpoint but the republican party sat outside the bank and keep the getaway car running and even were the lookouts for the cops as they always knew what was going on inside the bank but never had the guts to make that bold step to stop it all except in the case of one lone republican that they call Dr. No! In July 2002, over 6 years before this whole mess blew up and 2 years at least before the other Congressman in 2004' in the video caught on and McCain in 2005' I give you HR 3071 from the 108th Congress, July 16, 2002' [URL='http://www.govtrack.us/congress/bill.xpd?tab=summary&bill=h108-3071'][COLOR=red][B]http://www.govtrack.us/congress/bill.xpd?tab=summary&bill=h108-3071[/B][/COLOR][/URL] Full Text of the Bill [URL='http://www.govtrack.us/congress/billtext.xpd?bill=h108-3071'][COLOR=red][B]http://www.govtrack.us/congress/billtext.xpd?bill=h108-3071[/B][/COLOR][/URL] And who was this lone Congressman who foresaw the chain of events ot come and tried to shield the taxpayer? I give you Dr. No direct from the well addressing the congress and on the record, July 16th, 2002'! [B][COLOR=red][URL]https://web.archive.org/web/20021018082902/http://www.house.gov/paul/congrec/congrec2002/cr071602.htm[/URL][/COLOR][/B] Notice the very last paragraph and this was said in July of 2002', over 6 years ago. I think it's safe to say that looking where we are today that Dr. No got no support from his own party so to those who want to hold the republicans up as some kind of savior, let me just say, [/QUOTE]
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