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Originally Posted by Jim in CT
Spence, I don't think less regulation is what's needed. We need regulation to prevent financial institutions from selling mortgage-backed cecurities the way it was done before.
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I believe the Democrats have delivered on a lot of this this summer.
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But your memory is unbelievably selective. Part o fthe problem was subprime mortgages. I posted a link to a bill that the GOP proposed that would have tightened the controls a bit at Fannie and Freddie. That bill was defeated by the Democrats. Therefore, it seems to me that "less regulation" isn't an ide athat the GOP has a monopoly on.
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The 2005 proposal was abandoned. By what I've read the Dems on the Senate committee objected to a cap on the size of Fannie/Freddie holding but agreed to the increased oversight. Instead of negotiating the issue the Senate Republicans dropped it rather than take to the floor.
Considering that Bush had a majority in the Senate and the House, it would seem odd that they would drop such a substantial issue as they could have clearly gotten something passed had they wanted.
The only reasonable analysis is that both sides still didn't get it.
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You keep bending over like a contortionist to avoid criticizing Obama. Obama has never conceded that the Democratic party did anything to cause the recession. All he does is blame Democrats.
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I think you meant Republicans.
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Yet you do admit that both sides were at fault. If you think the Democrats were partly to blame, but Obama says it was all the GOP's fault, why can't you criticize Obama for his stance?
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You need to post some quotes in context to make an accusation like this. Considering your propensity to just regurgitate baseless talking points I'm not sure I'd trust any of your assertions.
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Answer? You are not rational. There is no fairy tale or excuse you won't hang your hat on to avoid critizing the Messiah. Obama's party controlled the legislature since January 2006, yet in his inauguration speech, all he did was blame Bush.
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And there you go again...
-spence