New study confirms economy was destroyed by Democrat policies

I don't think the "blame Bush" is no longer valid, but I'm sure Mr. Obama and the Obama but kissers will continue using it.

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left's race-baiting attacks on the housing market (the Community Reinvestment Act--enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone).Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left's favorite blatantly partisan "fact-checkers," Snopes, admits (while pretending to 'set the record straight').

I haven't had a chance to research this any more but if it can be picked apart I know ATS can do it. Will the MSM cover this? I guess not.

Read the whole article here,

www.examiner.com...

Pladuim

Before anyone clicks your link I want to make sure to include this little snippet of info on the author of that article

Robert Moon is an award-winning researcher, published author, and former Regional Coordinator for the Tea Party Patriots. He has organized for conservative causes and candidates for the last fifteen years, is a former Precinct Committeeman and is currently stationed overseas.

Link

Click here for more information.

Democrat Policies/ Liberal Policies destroy all civilizations. They destroy the civil society and the economy falls with it.

collapse of the Civil Society = the Collapse of the Economy

Originally posted by muse7
Before anyone clicks your link I want to make sure to include this little snippet of info on the author of that article

Robert Moon is an award-winning researcher, published author, and former Regional Coordinator for the Tea Party Patriots. He has organized for conservative causes and candidates for the last fifteen years, is a former Precinct Committeeman and is currently stationed overseas.

Link

Debate the article, don't attack the author. Is that all you've got?

Such division amongst the people...looks like we're already screwed. Which is exactly what TPTB wanted when they created multiple parties. Keep us focused on each other and not the wizard pulling the puppet strings. Seriously, why are we spending so much time blaming each other and so little time working with each other to find a solution?

Originally posted by JIMC5499

Originally posted by muse7
Before anyone clicks your link I want to make sure to include this little snippet of info on the author of that article

Robert Moon is an award-winning researcher, published author, and former Regional Coordinator for the Tea Party Patriots. He has organized for conservative causes and candidates for the last fifteen years, is a former Precinct Committeeman and is currently stationed overseas.

Link

Debate the article, don't attack the author. Is that all you've got?

Um ya, he was trying to insert prejudice into the minds of all readers before they see the study, because that is all he has got to go on.

Originally posted by Pladuim
I don't think the "blame Bush" is no longer valid, but I'm sure Mr. Obama and the Obama but kissers will continue using it.

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left's race-baiting attacks on the housing market (the Community Reinvestment Act--enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone).Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left's favorite blatantly partisan "fact-checkers," Snopes, admits (while pretending to 'set the record straight').

I haven't had a chance to research this any more but if it can be picked apart I know ATS can do it. Will the MSM cover this? I guess not.

Read the whole article here,

www.examiner.com...

Pladuim

Here's a pretty good recount of what Bush did do to warn Congress about the subprime debacle. Setting the record straight

The warning bells were going off in 2001.

reply to post by JIMC5499


I think the people that continue to rub Obamas but will continue singing the "la la la la" song while plugging their ears instead of an actual debate on why the housing marked crushed our economy.

Pladuim

Originally posted by AfterInfinity
Such division amongst the people...looks like we're already screwed. Which is exactly what TPTB wanted when they created multiple parties. Keep us focused on each other and not the wizard pulling the puppet strings. Seriously, why are we spending so much time blaming each other and so little time working with each other to find a solution?

edit on 27-3-2013 by AfterInfinity because: (no reason given)

I think the solutions were already ignored. Now the only solution we have as voters in to show everyone how bad these policies are and vote out those that support this nonsense.

Pladuim

Originally posted by muse7
Before anyone clicks your link I want to make sure to include this little snippet of info on the author of that article

Robert Moon is an award-winning researcher, published author, and former Regional Coordinator for the Tea Party Patriots. He has organized for conservative causes and candidates for the last fifteen years, is a former Precinct Committeeman and is currently stationed overseas.

Link

thanks for the heads up,
anything that blames one side only for this mess is being disingenuous,
both sides are to blame and this is just tea party point scoring.

money and banks
money and banks

xploder

Divide and conquer.

Pretty sure we were headed that direction before Obama took office with what fight um...2 wars simultaneously and the Housing scam.

But sure blame Obama I do...but I don't leave Bush out of it Either! And voting for some coddled silver-spooned slick pyramid building uber rich elitist would have got us there sooner...


Wake up 2 parties, 1 agenda!

reply to post by inverslyproportional


Take it with a grain of salt. An article could come out tomorrow saying that the Republicans destroyed the economy and the author was basically a Democrat diehard. Both sides are biased towards the other regardless who writes what.

This is the same study group that said the US recession was over by 2009. Because they use different parameters than say, Brookings for their findings, that is something to consider for those stateside. Do you consider the recession over, or do you consider it over, but the economy is still bad?

I think the big issue is did the housing market cause the collapse in our economy and if so does Obama have the right to continue blaming Bush over and over again?

Lets debate that!

Pladuim

reply to post by Pladuim


Inn the 90's we had the Internet Bubble that took Housing to prop it up.

Now we have the Entitlement Bubble propping up the Housing Bubble that was created to prop up the Internet Bubble.

We need a "correction".

Good job folks. Way to stick it to the corrupt scum.
Keep bickering back and forth about republicans and democrats.



Freaking tools....

Both parties have wrecked the economy equally...

From two unfunded military campaigns, to Crony favors in the back offices of Washington DC...neither party is really and truly working "for the average citizen"....

They use their rhetoric to further divide the population over one issue or another...sad really.






All we can do is try and ...

reply to post by watchitburn


Go ahead and run to your bunker and lock the door, we'll come and knock on your door after the NWO war is over.

Pladuim

Since the 'examiner' doesn't carry the story, there is a need to pull up the actual paper, (from Dec 2012) to see the content, and you need to be a subscriber. The small portion I saw appears to put the main blame on mostly the private securitization of bad debt, ie; the dealing in which was already bad debts, by snake oil bankers, to mostly the big snake oil banks. It was a banking problem. Here's the opening,



Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
Sumit Agarwal, Efraim Benmelech, Nittai Bergman, Amit Seru
NBER Working Paper No. 18609
Issued in December 2012
NBER Program(s): AP CF

Yes, it did. We use exogenous variation in banks’ incentives to conform to the standards of the Community Reinvestment Act (CRA) around regulatory exam dates to trace out the effect of the CRA on lending activity. Our empirical strategy compares lending behavior of banks undergoing CRA exams within a given census tract in a given month to the behavior of banks operating in the same census tract-month that do not face these exams. We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often. These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks. The effects are strongest during the time period when the market for private securitization was booming.

You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.