JOHN STILL WAITING FOR YOU TO TAKE ME UP ON THE BET.
I asked you for the other 3 people who you said disagreed with Ben Stein.
I am still waiting.
I mention Ben Stein because he is a staunch Republican who acknowledged what his friends in Wall st. told him about the causes for the financial collapse
not because i like his political prescriptions. And you think you are a great
debater? One has nothing to do with the other. Take a logic 101 course please.
The article says that Bush and the Republicans bowed to the Mortgage lobbyist pressure. Can you not acknowledge that the Mortgage industry has given lots of money to the Republicans and has always fought regulating their industry?
I will dig up some more facts when i have some time. I asked you to prove anything in that article false and you havent so far. I can easily get you more proof if you really need but i am starting to think that even if i showed you some more you will you just deny it anyway.
I am not confused about Bush. His philosophy was to push home ownership HARD. Everyone wants to believe in the American dream and home ownership. No one likes to be left out. He contributed to a psychology about home ownership that i think was ultimately destructive. He contributed to the bubble as did his Federal Reserve chairman Alan Greenspan who know acknowledges that he never believed there was going to be a housing bubble. The combination of low interest rates and promotion from the top of house ownership all contributed to the excesses of the past years. It was also slimy mortgage people who pushed bad mortgages on people and folks who bought houses they shouldnt ever have owned. Its all part of the mix. Not just fannie and freddie that people like you want to blame all the worlds problems on. As i said it was complex and many elements that made up the bad stew in housing. Throw in complex derivative trading and corruption and no regulation or enforcement of regulation and it was a time bomb waiting to go off.
So "all lobbyist money was going to Democrats". Very funny John. Good try.
When i get the chance i am going to get you some statistics on Mortgage lobbyist money and Republicans. Republicans have always been against regulation in the name of the free market. Industry lobbyists whether it is in, etc the inusrance industry or the pharamaceutical industry have always backed Republicans. its a well known fact that Republicans oppose regulation of all kinds.
Who wanted to regulate complex derivative trading? Republicans or Democrats? It was the Democrats and the Republicans opposed it.
Who is trying to now to fight the new regulation ideas that Democrats are trying to put in place to try to prevent what happened from happening again.
You got it. Republicans. Thats the pattern that one sees over and over again.