From who did Obama "inherit" the economic mess?

[spence]

Originally Posted by scottw

thanks for the chuckle this morning anyway....pragmatic center

I think the center tends to be inherently more pragmatic by it's very nature, not in a pure sense mind you (there's still room for idealism) but with a nod to reality when illuminating a path forward.

Glad I could make you laugh.

-spence

[scottw]

Originally Posted by spence

I think the center tends to be inherently more pragmatic by it's very nature, not in a pure sense mind you (there's still room for idealism) but with a nod to reality when illuminating a path forward.

Glad I could make you laugh.

-spence

I'm sure that's what you see when you(and the "we") place yourselves on a pedestal in the "center" and look around and begin to illuminate forward paths....

reminds me of "WE are the ONES we've been waiting for"... creepy...


you didn't make me laugh as hard as my 12 year old who located the "yo mama so ....." joke app for her iPOD......

[Jim in CT]

Spence, if you are in the "middle" as you claim, that must mean that there are some issues on which you think conservatives are right, and liberals are wrong.

I'm in the middle (slightly right leaning). I think conservatives are right on the economy, abortion, and national security. I think liberals are right on gay marriage, gun control, minimum wage, and the need for some regulation on Wall Street..

So Spence, on what issues do you side with conservatives?

I suspect that you think you're in the "middle" because you fall somewhere between Keith Oberman and his newphew Rachael Maddow. But remember, those 2 don't exactly cover the entire spectrum, just the entire spectrum at one network.

[scottw]

actually...he's in the "center"...which is the optimal point from which to look down ...and illuminate the path forward with balanced ideology(just a tinge) and with observation while nodding at reality...or something...think about it

it was actually a brilliant quote

[Slipknot]

I don't care who broke it!
all i want to know is who's gonna fix it?
THAT'S all the matters

i'm tired of getting the chit end of the stick

[Jim in CT]

Originally Posted by Slipknot

I don't care who broke it!
all i want to know is who's gonna fix it?
THAT'S all the matters

i'm tired of getting the chit end of the stick

I think it's important to figure out "what" broke it, so that we don't repeat the mistake. And "what" broke it is subprime mortgages (which in many cases banks were pressured to write by liberal social engineering policies) and a de-regulated financial sector that came up with crazy ways to rate those mortgages as "safe" investments, and then sell them and leverage them.

As for who will fix it? Not the liberals that the idiots in CT and MA elected to keep doing more of the same. In CT, the liberals have been running the show forever. Between income tax of the gazillionaires in Fairfield county, as well as the revenue we get from the 2 most profitable casinos in the world, CT has PLENTY of revenue. Revenue shortfall is not our problem...crazy spending is our problem.

When my state income tax is 10% (currently 5%), and my property taxes are $10,000 (currently $7700), that's when I move. And that day is coming.

[RIROCKHOUND]

Originally Posted by Jim in CT

which in many cases banks were pressured to write by liberal social engineering policies

Damn liberal mindset
"Over 75 percent of white Americans own their home, and less than 50 percent of Hispanos and African Americans don't own their home. And that's a gap, that's a homeownership gap. And we've got to do something about it." —George W. Bush, Cleveland, Ohio, July 1, 2002

[scottw]

CLOWARD - PIVEN STRATEGY

Strategy for forcing political change through orchestrated crisis

First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and his wife Frances Fox Piven (today Piven is an honorary chair for the Democratic Socialists of America), the "Cloward-Piven Strategy" seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.

The key to sparking this rebellion would be to expose the inadequacy of the welfare state. Cloward-Piven's early promoters cited radical organizer Saul Alinsky as their inspiration. "Make the enemy live up to their (sic) own book of rules," Alinsky wrote in his 1972 book Rules for Radicals. When pressed to honor every word of every law and statute, every Judaeo-Christian moral tenet, and every implicit promise of the liberal social contract, human agencies inevitably fall short. The system's failure to "live up" to its rule book can then be used to discredit it altogether, and to replace the capitalist "rule book" with a socialist one.

[Fly Rod]

Originally Posted by Jim in CT

I think it's important to figure out "what" broke it, so that we don't repeat the mistake. And "what" broke it is subprime mortgages (which in many cases banks were pressured to write by liberal social engineering policies) and a de-regulated financial sector that came up with crazy ways to rate those mortgages as "safe" investments, and then sell them and leverage them.

When you say banks, you make it sound like all banks when it was the big banks.

Local banks were not pressured to write sub prime loans. Most local banks would not write a loan without twenty per cent down. Mortgage companies were the biggest culprit writing hundred percent loans or eighty-twenty percent loans, holding two mortgages.


If you want to know the root cause of the current subprime crisis, there are
three things you need to understand:
First, the problem was caused by politicians (primarily Democrats) pushing
their "entitlement" agenda in to the free market. It started with "The
Community Reinvestment Act" (CRA) which required banks to make high risk
loans to minorities and others who could not have qualified for a home loan
or business loan under normal circumstances.

Second, Bill Clinton further liberalized the CRA and signed a bill to repeal
the Glass-Stengal Act. This Act was put in place in the 1930s following the
bank failures during the Great Depression. It was designed to keep banks
out of the speculation business.

Third, George Bush proposed major changes in the CRA, FMAE and FMAC in 2003
that would have tightened requirements for these business loans and subprime
home mortgages. The vote went along party lines, the Democrats won and the
proposed changes were defeated.

Why does Spence want to keep blaming Bush?