What Bush policies contributed to the financial crisis?

[Big Bro Handiwipes]

With all the generous tax cuts its was really hard to see anything other than green for those on the top

[smokesteam]

All people who think that presidents cause financial crises are retarded. Nobody has that much power, not even the presidents. They merely serve as political scapegoats--its much easier to hate a person than an idea or an organization.

So, to sum up, he contributed pretty much diddley squat

[Ryde-On]

I was not Bush policy but rather Bush's failure to end the Lib's policies.

[gws35]

The Dow reached its all time high of 14,000 in 2007, on Bush's watch.

It was no bubble, the Dow was above 10,000 the majority of Bush's time in office up to that point.

But after the GOP lost its majority in Congress in 2007, the Dow took its worst one-year plunge in history.

Bush's economic policies worked for six years. But after the GOP lost control of Congress, it was all downhill from there.

After the GOP lost control of Congress, then the GOP was not able to pass legislation that could have prevented the crash.

The Democrats did nothing. The GOP might have done something, but they couldn't because they didn't have a majority anymore.

And unemployment was NEVER 10% on Bush's watch.

The 2008 crash was linked directy to repealing the Glass-Steagall act in the 1999 Gramm-Leach-Bliley act.

Bush was not the president in 1999. Clinton was.

Democrats have a long list of excuses to blame that act on the GOP. So OK, let's play their game.

If the GOP was so bad for creating the Gramm-Leach-Bliley act, then why didn't the Democrat government repeal it first thing, as soon as they got control in January 2009?






crickets chirping......

Finally, one man is taking action (and also one woman):

http://news.yahoo.com/s/politico/31148
'Big is bad' catches on in Congress
"The anger at the nation’s financial behemoths is taking shape in a variety of ways, most notably in a bill from Sens. Maria Cantwell (D-Wash.) and John McCain (R-Ariz.), who are targeting big financial institutions such as JPMorgan Chase and Citigroup.

"The bipartisan duo’s bill would reinstate the Depression-era law that built a wall between commercial banking and the riskier activities of investment banking. The separation — originally set up in the Glass-Steagall Act — was repealed in 1999. "\

Yep, you read that right: John McCain.

The same man who warned us about Fannie Mae and Freddie Mac, but nobody listened.

I think we should listen to him this time.