06-09-2015, 01:25 PM
(06-06-2015, 11:21 PM)Bengalzona Wrote: Revisionist history. It was the Bush Admins effort to deregulate which led to the recession to begin with. He did nothing to prevent it and did little to stop outside of bailing out corporations. That, along with his misguided war which cost billions, make him perhaps THE worst POTUS in modern history.
No, that is a fundamentally gross misunderstanding to how the financial crisis came about, and has its roots in banking and housing regulation signed by Clinton. Another key factor was the fiscal/reinflation policy following the internet bubble and 9/11, similar policies used by Obama but put on steroids. You were reading it all daily, you just never understood what was really going on (again, back to the question what ARE you reading?!?)
Bush also asked Congress to reign in Fannie and Freddie in 2006. The Democratic Congress refused.
There is no revisionist history, only the partisan history you support to prop-up Obama for some unknown reason. The economy was stabilized before Obama took office. The crisis was over, what was left to Obama was the recovery...and because that recovery has been so dismal we have people pushing the story that Obama saved us from a Great Depression. And you can blame Repubs for resisting recovery efforts and jobs bills all you want - Dems didn't need a single Repub vote to pass Obamacare.
What you call bailouts (you forgot to mention the UAW bailout, if you're going to call a spade a spade) are also called stabilization and liquidity injections...and the taxpayer made money, and continues to make money, on those "evil" bailouts (or what other people might call LOANS).
