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Originally Posted by hankhavelock
Well, what did you expect? Give the man a chance, please. He has to clean up 8 years' mess after the most horribly incompetent socalled president that America ever had...
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As a non-US citizen, I don't expect you to know the ins and outs of the cause of our financial meltdown, and all you have to fall back on is your trusty "Bush Did It" mantra, but it's not anywhere near that simple. I don't know how much you know about the US government, but you may be surprised to hear that it's not made up of only one person. There's a congress too, made up of a house and senate. That's the legislative branch. There's also a judiciary branch.
You're focusing on the guy who has, for 7 of his 8 years in office, been warning congress about the financial instability of Freddie Mac and Fannie Mae. His last year in office, he warned them 17 times. Youtube is full of videos of congressmen insisting that Freddie Mac and Frannie Mae were financially sound. The main culprits are Carter, Clinton, and Congress for the Community Reinvestment Act (CRA), and Alan Greenspan for artificially creating the housing bubble. btw, you can't just blame Bush for Greenspan. He was in office during the terms of several presidents. I think most of this has already been discussed several times in this thread. I know... it's not as trendy as saying it's that idiot Bush, but you know those pesky facts. They keep rearing their ugly heads.
Quote:
Originally Posted by hankhavelock
Barack's task is tuff... but he'll do it. Don't worry. But he still has Republicans and even Democrats against him in Congress, and the financial crisis is so severe that it cannot be undone in three months...
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I certainly don't expect him to turn the crisis around in three months, or even a year. But call me crazy, if our problem is the collapse of mortgage companies who lent money to uncreditworthy people, let's NOT give $3.5 billion to the group who led the push for CRA. (BTW, since that same group is being charged in 14 states for voter fraud, let's NOT have them working on the census either.)
You want me to give Obama a chance, when his strategy is Carter's failed financial policy on steroids. That strategy has already had a chance. It didn't work. The republicans are getting a lot of blame by the conservatives in this country for not being conservative. Yes, they did rack up some debt when they had control of congress, but in one month, Obama and the democratic congress has racked up 2.5 times the amount of debt raised during all 8 years of Bush's presidency, including debt from Bush's wall street bailout. And they're still talking about more trillion dollar bailouts to come. The world isn't going to keep buying our debt, and when we had a debt of $10 trillion, Obama had the NERVE to expect the world to fork up another $2.5 trillion. Like the top european union official said, Obama's policies will undermine the stability of the global market. That's not Sean Hanity talking. That's the Czech prime minister. And it's also China's central bank governor. But I know you'll go right a head and tell me that the best way out of debt is borrow another $2.5 trillion. Makes perfect sense for an enlightened person such as yourself.
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Originally Posted by hankhavelock
So be glad you didn't vote for McCain or any other Republican, for that matter. Give Barack a chance to get his plan in motion. Read his book "The Audacity of Hope" - that's well written reading and will give you a better knowledge of Barack's plan. Trust me, Barack is a thoroughly good guy and talented above measure!
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He may very well be a good guy, but he's in way over his head. McCain isn't on the top of most republican's list, but I know he wouldn't implement strategies like Obama has that would put the country and the world economy in this much danger. I'm not going to read about the audacity of a community organizer who thinks he can be president. I'm reading about how to stay afloat when the dollar collapses.