I personally feel Guantanamo was necessary. What were the other options? What would you have done to protect your citizens?Originally Posted by Shenron
What didn't you like about Iraq?Originally Posted by Shenron
That is actually an erroneous statement. It did not begin with Greenspan.Originally Posted by Shenron
Raising interest rates keeps inflation in check. The problem wasn't with raising the rates. The problem was with a large number of people who felt entitled to materials and lifestyles they couldn't afford. It teaches people to live within their means.
More than anything, the housing failure stems from a decision made by Jimmy Carter to sign the Community Reinvestment Act (CRA) in 1977. The basic intent was to make housing available to minority owners. In essence, it forced banks to provide loans for high risk borrowers. This in turn created a thriving subprime loan market.
In 1989, Bush Sr. increased government oversight of the process of issuing CRA ratings to banks. Sadly, this wasn't enough.
In 1992, Clinton signed the Federal Housing Enterprises Financial Safety and Soundness Act. This forced the two largest lenders in the US (Fannie Mae and Freddie Mac) to allocate a large percentage of their lending to high risk borrowers.
This was the turning point. The fall of interest rates plus the increase of predatory loan behavior made Carter's original act and Clinton's fascist decisions a breeding ground for a large scale housing disaster.
Interest rates climbed (as they do). It is time to pay the piper. This happens when people try to cheat the system. There are laws to prevent this, but who's going to prosecute that many people?
This could have been fixed by Bush, he was warned in 2002, but this is by no means his fault. He rolled with it.
Ron Paul made several statements about this before Congress. They chose not to listen.
So people are defaulting on loans. The banks are hurting. The people are hurting.
Tell me how this was caused by Bush?
Conspiracy theorist or just funnyman?Originally Posted by Shenron