I hope you are holding on with both hands!

[ShurShot]

Bush dropped the regulations over banking practice, thus causing the shitstorm that would become of 2008.

Sent from my XT1058 using Tapatalk

You're obviously a little misinformed... let me help you out:

http://video.pbs.org/video/2226666502/

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

Oct.-Nov. 1999

Congress passes Financial Services Modernization Act

After 12 attempts in 25 years, Congress finally repeals Glass-Steagall, rewarding financial companies for more than 20 years and $300 million worth of lobbying efforts. Supporters hail the change as the long-overdue demise of a Depression-era relic.

On Oct. 21, with the House-Senate conference committee deadlocked after marathon negotiations, the main sticking point is partisan bickering over the bill's effect on the Community Reinvestment Act, which sets rules for lending to poor communities. Sandy Weill calls President Clinton in the evening to try to break the deadlock after Senator Phil Gramm, chairman of the Banking Committee, warned Citigroup lobbyist Roger Levy that Weill has to get White House moving on the bill or he would shut down the House-Senate conference. Serious negotiations resume, and a deal is announced at 2:45 a.m. on Oct. 22. Whether Weill made any difference in precipitating a deal is unclear.

On Oct. 22, Weill and John Reed issue a statement congratulating Congress and President Clinton, including 19 administration officials and lawmakers by name. The House and Senate approve a final version of the bill on Nov. 4, and Clinton signs it into law later that month.

Just days after the administration (including the Treasury Department) agrees to support the repeal, Treasury Secretary Robert Rubin, the former co-chairman of a major Wall Street investment bank, Goldman Sachs, raises eyebrows by accepting a top job at Citigroup as Weill's chief lieutenant. The previous year, Weill had called Secretary Rubin to give him advance notice of the upcoming merger announcement. When Weill told Rubin he had some important news, the secretary reportedly quipped, "You're buying the government?"



http://www.americanbanker.com/news/law-regulation/the-long-shadow-of-robert-rubin-1071601-1.html

 

[Ace_on_the_Turn]

The storm didn't turn to **** until Obama was elected. Prior to that, it was a normal economic cycle.

That's about as wrong as anything I've ever read on this site. From July 2007 to Election day 2008 the Dow fell from over 15,000 to below 10,000. If you think the largest market in the world shedding a third of its value is a "normal economic cycle" you're kidding yourself. The Dow had not seen a drop that far, that fast, since the Great Depression.

 

[ShurShot]

That's about as wrong as anything I've ever read on this site. From July 2007 to Election day 2008 the Down fell from over 15,000 to below 10,000. If you think the largest market in the world shedding a third of its value is a "normal economic cycle" you're kidding yourself. The Dow had not seen a drop that far, that fast, since the Great Depression.

Agreed, and we have the Clinton administration to thank for that.

At least we had cash for clunkers... think about where we might be without that gem of Democratic wisdom!

 

[ShurShot]

While we're at it, let's not forget this one:



It's just not fair that Bush keeps getting all the credit!

 

[Ace_on_the_Turn]

It's just not fair that Bush keeps getting all the credit!

Here, this will save you time.

 

[ShurShot]

Here, this will save you time.

That's all you've got?!?! You should make one of those up for yourself, it would have been more appropriate:

This, again? The housing bubble that burst 6 years into Bush's presidency is Clinton's fault? Right now we about the same point into Obama's administration as we were into Bush's when the the bubble burst. Yet if anyone mentions Bush, all we here is stop blaming Bush. There's a word for that, maybe you should Google it.

I won't bother you with facts. As you've proven, time and again, you don't care for facts. Of all ignorance, willful is the worst.

Did my facts "bother" you?

For the record, I'm not a Republican. I blame both sides but Bill Clinton definitely deserve at least half if not most of the credit. And I know that comment wasn't directed at me, I'm just playing along.

 

[TenBears]

We owe money to China, but China has a huge debt problem. Who are the ultimate owners of countries debt?

 

[Dale00]

We owe money to China, but China has a huge debt problem. Who are the ultimate owners of countries debt?

Nations are sovereign are they not? I'm going to go out on a limb and say that if a nation chooses not to repay a debt they can do so. But there may be repercussions.

 

[JD8]

This, again? The housing bubble that burst 6 years into Bush's presidency is Clinton's fault? Right now we about the same point into Obama's administration as we were into Bush's when the the bubble burst. Yet if anyone mentions Bush, all we here is stop blaming Bush. There's a word for that, maybe you should Google it.

I won't bother you with facts. As you've proven, time and again, you don't care for facts. Of all ignorance, willful is the worst.

Granted I've already smacked you down on the housing issue, I thought this was so over the top you would have noticed?

 

[dennishoddy]

Man Gundy and now you. Lot of puking going on up there in poke country.

Need more info on this. I don't follow Gundy.