Carter blasts Bush for financial crisis

#3
#3
Jihad Jimmy needs to remember who started this crap about lets give loans to folks that can't pay them back.
 
#4
#4
Bush certainly did not help the situation, but he is no where near the blame for all of it. Wall St and mortgage lenders is who Carter needs to be venting to.
 
#6
#6
Alot more "government owned houses" are going to be turned into public housing as this bail out goes forward
 
#7
#7
the Community Reinvestment Act of 1977 is the pebble that started this landslide.
 
#9
#9
MG1968 said:
the Community Reinvestment Act of 1977 is the pebble that started this landslide.
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maybe to some limited degree, but the wholesale opening of the floodgates over the past 10-12 years is the Trillion dollar elephant in the room.
 
#11
#11
Carter giving advice on the economy or foreign policy is like CPF advising Stoops on what offense he should run.
 
#12
#12
T-TownVol said:
and the CRA act was the first crack
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It was, but opening the doors to the broader market was the death knell.

Limited underwriting standards couldn't be aimed only at one market, so when they went, they went for everyone. Hence all of the exotic mortgages and goofball financing schemes that have now destroyed the capital base of the entire financial marketplace.
 
#13
#13
BigPapaVol said:
It was, but opening the doors to the broader market was the death knell.

Limited underwriting standards couldn't be aimed only at one market, so when they went, they went for everyone. Hence all of the exotic mortgages and goofball financing schemes that have now destroyed the capital base of the entire financial marketplace.
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Can you write McCain's next speach? Spot On!
 
#15
#15
dantheman617 said:
Bush certainly did not help the situation, but he is no where near the blame for all of it. Wall St and mortgage lenders is who Carter needs to be venting to.
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While I am a charter member of the "Jimmy Carter please go away" club, it also is totally asinining to place all the blame on Carter for the economic woes of the late seventies and then turn around want to spread blame for the current economic woes. Can't have it both ways. Facts and truth of each situation are totally different but neither are solely responsible for the economic situations during their administrations.

Just so you experts know, Jimmy Carter is a brilliant man and FORGOT more about economics than most of you know COMBINED. His presidency was a disaster, no doubt, but you could double most your IQs and it wouldn't equal his. LOL
 
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#16
#16
dantheman617 said:
Bush certainly did not help the situation, but he is no where near the blame for all of it. Wall St and mortgage lenders is who Carter needs to be venting to.
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Fannie is a much bigger problem that Wall St. Mortgage brokers are clearly a problem. Wall St. is really just a distribution network in the end.
 
#18
#18
dantheman617 said:
Bush certainly did not help the situation, but he is no where near the blame for all of it. Wall St and mortgage lenders is who Carter needs to be venting to.
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It is so refreshing that you are actually bringing up the issue of personal responsibility. Wait, nevermind. You aren't.
 
#19
#19
truefan said:
While I am a charter member of the "Jimmy Carter please go away" club, it also is totally asinining to place all the blame on Carter for the economic woes of the late seventies and then turn around want to spread blame for the current economic woes. Can't have it both ways. Facts and truth of each situation are totally different but neither are solely responsible for the economic situations during their administrations
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There you go, letting nuance get in the way of blanket political attacks.
 
#20
#20
truefan said:
While I am a charter member of the "Jimmy Carter please go away" club, it also is totally asinining to place all the blame on Carter for the economic woes of the late seventies and then turn around want to spread blame for the current economic woes. Can't have it both ways. Facts and truth of each situation are totally different but neither are solely responsible for the economic situations during their administrations.

Just so you experts know, Jimmy Carter is a brilliant man and FORGOT more about economics than most of you know COMBINED. His presidency was a disaster, no doubt, but you could double most your IQs and it wouldn't equal his. LOL
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Sooo, he was too smart to be a good POTUS...and by the way, Clinton gets some blame too, as well as Bush
 
#21
#21
truefan said:
Just so you experts know, Jimmy Carter is a brilliant man and FORGOT more about economics than most of you know COMBINED. His presidency was a disaster, no doubt, but you could double most your IQs and it wouldn't equal his. LOL
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You apparently know absolutely nothing about me.
 
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