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Originally posted by sos37
As usual, the hard core liberal mindset can't seem to wrap it's brain around the fact that the financial meltdown was NOT caused by one man. One man is not solely responsible for the mess we're in. Geez, even Time Magazine agrees to some extent on that when they published their piece "25 People to Blame for the Financial Crisis".
Originally posted by sos37
reply to post by mental modulator
As usual, the hard core liberal mindset can't seem to wrap it's brain around the fact that the financial meltdown was NOT caused by one man. One man is not solely responsible for the mess we're in. Geez, even Time Magazine agrees to some extent on that when they published their piece "25 People to Blame for the Financial Crisis".
Here's the link to the story, if you libs feel like educating yourselves for once instead of wallowing in ignorance.
www.time.com...
Originally posted by jsobecky
reply to post by Malynn
Originally posted by Malynn
This thread is high-quality entertainment. I (in real life, seriously) got up and made myself some popcorn. Herein this thread lies the evidence of why we are likely doomed. You all buy up everything they sell you.
Here you all are, getting all worked up and angry with each other. "My guy is better than your guy!" you all holler. Which is ridiculous because in reality both of your guys work for the same team. You're all working yourselves into a lather over two sides who are playing you against each other.
It's maddening at times. It's getting to the point where it's all turned into hilarity for me and I'm just kicking back with my feet up and enjoying the spectacle whilst waiting for the inevitable collapse. If we were an experiment, we totally freaking failed.
I'm glad you're enjoying the thread.
Unfortunately, I don't have a 'guy' in this thread. I may have defended against some of the allegations that this is all Bush's fault, but that is fact, and I have provided historical links and factual info from as far back as the '90s where this crisis had it's roots. Not to say Bush was innocent - he was no fiscal conservative - but at least he had a reason to spend the money, the Iraq war, with plans to recover some of it with Iraqi oil revenues.
But increased gov't spending can only be paid for by increased borrowing and ultimately increased taxes. When our credit line is shut down, the real bad times will start.
reply to post by djon01
That's a good idea!
Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999, is an Act of the United States Congress which repealed part of the Glass-Steagall Act of 1933, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.
The Gramm-Leach-Bliley Act (GLBA) allowed commercial and investment banks to consolidate. For example, Citibank merged with Travelers Group, an insurance company, and in 1998 formed the conglomerate Citigroup, a corporation combining banking and insurance underwriting services under brands including Smith-Barney, Shearson, Primerica and Travelers Insurance Corporation. This combination, announced in 1993 and finalized in 1994, would have violated the Glass-Steagall Act and the Bank Holding Company Act by combining insurance and securities companies, if not for a temporary waiver process [1]. The law was passed to legalize these mergers on a permanent basis. Historically, the combined industry has been known as the financial services industry.
The bills were introduced in the U.S. Senate by Phil Gramm (R-Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001. On May 6, 1999, the Senate passed the bills by a 54-44 vote along party lines (53 Republicans and one Democrat in favor; 44 Democrats opposed).
Originally posted by Brainiac
In Reply to the Racist.
Wasn't Bush also rated the Worst President in the History of the United States?
we just look the other direction don't we? Because he's White.
We all know the reason you really make your claims...
Originally posted by doorbell412
I wonder sometimes if people would respond the same way if Obama was fully white....Something tells me racism is alive and well. It really is sad
Originally posted by JMasters
When your responses are racist... that makes it racist. Not us, but you.
Second, Bush destroyed America.
Obama is trying to fix it. But notice how you, JSO, and the others ignore the white man who broke the television and are only yelling at the black repair man for not fixing it fast enough.
Originally posted by JMasters
How did he make it worse?
fixed the white mans mess up,