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Did Clinton cause todays bank problems?

Permalink: Did Clinton cause todays bank problems?

by mauserG33-40 , Posted to Fishing Buddy on 06/26/2009 06:53 AM | "Quote" | "Quick Reply" |

mauserG33-40
Joined: 05/24/2008
Location: Mo

Is Obama just following an old party tradition.

http://articles.moneycentral.msn.com/Investing/Extra/did-clinton-cause-the-banking-crisis.aspx

Re: Did Clinton cause todays bank problems?

by 3XGutshot on 06/26/2009 08:02 AM | Reply #1 | "Quote" | "Quick Reply" |

3XGutshot
Joined: 10/27/2004
Location: ND

good article

The only enemy of guns is rust and politicians.

Re: Did Clinton cause todays bank problems?

by Tim Sandstrom on 06/26/2009 08:04 AM | Reply #2 | "Quote" | "Quick Reply" |

Tim Sandstrom
Joined: 07/14/2003
Location: ND

They didn't mention the rules changed and even enforced to make housing a "right" or an "entitlement" and I'm not talking about the little house and prairie type homes either. In other words, we made the market open to all by forcing the banks to offer such loans.

I wonder where this article was during the election? Yeah, I know, stupid question.

Re: Did Clinton cause todays bank problems?

by HUNTNFISHND on 06/26/2009 08:38 AM | Reply #3 | "Quote" | "Quick Reply" |

HUNTNFISHND
Joined: 07/13/2003
Location: ND

There is plenty of blame to go around among both the D & R parties.

The R's controlled the House and Senate from 1994-2006 so they passed most of this deregulation. Of course Clinton signed it so he is also to blame. And Bush took his lead and ran with it!

The problem is CORRUPTION and I don't see a solution any time soon!

Re: Did Clinton cause todays bank problems?

by Tim Sandstrom on 06/26/2009 08:53 AM | Reply #4 | "Quote" | "Quick Reply" |

Tim Sandstrom
Joined: 07/14/2003
Location: ND

People use the word "deregulation" way too freely. There is deregulation that allows the free market to work properly and then there is "deregulation" that destroys the free market. Deregulation such as forcing banks or rewarding banks in giving loans to people that couldn't handle them is the bad "deregulation."

That's what bugs me about the folks whacking away at Reagan when the truth is, the biggest disaster was Carter and Clinton. I'm serious, I'm not being partisan here. I agree, Bush ran with the warm fuzzy number of low income people owning homes under his administration. He is to blame as well but it isn't about deregulation folks. Be careful how you use the term.

Re: Did Clinton cause todays bank problems?

by HUNTNFISHND on 06/26/2009 08:57 AM | Reply #5 | "Quote" | "Quick Reply" |

HUNTNFISHND
Joined: 07/13/2003
Location: ND

Tim Sandstrom Said:
That's what bugs me about the folks whacking away at Reagan when the truth is, the biggest disaster was Carter and Clinton. I'm serious, I'm not being partisan here.

Tim,

If you're not being partisan then explain to me why you keep blaming Clinton when you know full well that the R's controlled the house and senate?

Re: Did Clinton cause todays bank problems?

by Tim Sandstrom on 06/26/2009 09:29 AM | Reply #6 | "Quote" | "Quick Reply" |

Tim Sandstrom
Joined: 07/14/2003
Location: ND

HUNT,

It is the truth. Even CNN had specials on it stating and quoting the laws placed in those eras. It was horrible legislation. I used a bad play on words above so I can see where I deserve it a bit but I'm serious, it is well documented EVEN IN THE NEW YORK TIMES what really caused caused the housing burst. You know it is something that can't be swept under the rug when the New York Times can't spin it.

Re: Did Clinton cause todays bank problems?

by Bob kellam on 06/26/2009 10:03 AM | Reply #7 | "Quote" | "Quick Reply" |

Bob kellam
Joined: 07/22/2005
Location: ND

You need to understand where this all started

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

Re: Did Clinton cause todays bank problems?

by hogger on 06/26/2009 10:58 AM | Reply #8 | "Quote" | "Quick Reply" |

hogger
Joined: 10/24/2005
Location: ND

Thank you Bill Kellam.So tired of listening to people who have their heads buried in the sand.Hogger

Re: Did Clinton cause todays bank problems?

by SHORTHAIRSRUS on 06/26/2009 11:28 AM | Reply #9 | "Quote" | "Quick Reply" |

SHORTHAIRSRUS
Joined: 11/24/2004
Location: ND

The biggest mistake of all is having a federal reserve, second Reagan hiring Greenspan to run it. The republicans and dems have both eroded capitilism. So called deregulation is slanted.

Beer is for breakfast, drink or be gone!

Re: Did Clinton cause todays bank problems?

by SHORTHAIRSRUS on 06/26/2009 11:30 AM | Reply #10 | "Quote" | "Quick Reply" |

SHORTHAIRSRUS
Joined: 11/24/2004
Location: ND

Next bill on tap - 15k tax credit for anybody (not just 1st time homebuyers) to buy a home in 2010. Some think this will pass due to the rising interest mtg rates. Again another hit on true capitalism. Why should I pay for some other person to buy a home. Why keep on trying to jumpstart an economy that is so "FAKE" in the first place.

Beer is for breakfast, drink or be gone!

Re: Did Clinton cause todays bank problems?

by 3XGutshot on 06/26/2009 11:34 AM | Reply #11 | "Quote" | "Quick Reply" |

3XGutshot
Joined: 10/27/2004
Location: ND

politicians are really pi$$ poor at foreseeing the unintended consequences of legislation or maybe they just dont care

The only enemy of guns is rust and politicians.

Re: Did Clinton cause todays bank problems?

by eyexer on 06/26/2009 6:06 PM | Reply #12 | "Quote" | "Quick Reply" |

eyexer
Joined: 02/28/2007
Location: ND

And this my friends is exactly how it happened. I was looking for that Bob and couldn't find it, thanks for posting it. All one needs to do is research this act and you will understand how this happend, that is if you can understand.

Bob kellam Said:
You need to understand where this all started

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

Re: Did Clinton cause todays bank problems?

by sdwxman on 06/26/2009 6:26 PM | Reply #13 | "Quote" | "Quick Reply" |

sdwxman
Joined: 04/06/2007
Location: SD

I agree Shorty. All these incentives can't last forever. We're just delaying reality.

SHORTHAIRSRUS Said:
Next bill on tap - 15k tax credit for anybody (not just 1st time homebuyers) to buy a home in 2010. Some think this will pass due to the rising interest mtg rates. Again another hit on true capitalism. Why should I pay for some other person to buy a home. Why keep on trying to jumpstart an economy that is so "FAKE" in the first place.