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- Aug 2, 2011
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If the GOP blocked Obama at every turn and the economy got going during his term, how exactly does Obama and the Dems in general get credit for that? Shouldn't we be giving the GOP credit for keeping Obama's agenda from f'ing everything up?
Also, the Dems didn't clean up a GOP mess - the mortgage debacle can be traced directly to policies pushed by Dem controlled congress, particularly the efforts of Barney Frank when he served on the financial services committee from to 2003 to 2013 - he chaired it from 2007-2011. He personally led efforts to expand Fannie and Freddie and incentivize banks to create mortgage products for high risk borrowers. He never once tried to reign in securitization or other instruments that led to massive expansion of housing credit and the subsequent bubble. He in fact, did the opposite. The idea that the Dems didn't play a significant role in creating that bubble and it's inevitable bursting is preposterous.
It was definitely a bipartisan cluster fuck.
From 2008 through 2013 it doesn’t matter that much, because after 2008 the horses were already out of the barn.
For six of the eight years under bush-This is my recollection but I looked it up back in that time-That committee was chaired by two different Republicans, one dude was a guy named Leach and the other guy-I can’t Remember his name. One of them was from Iowa and the other was from Ohio.
Everybody in both parties before the crash we’re jumping up-and-down and patting themselves on the back and congratulating themselves for being part of expanding the ability for Americans to buy homes-the most in the history of the country.
Here is the “easy credit cheerleader in chief” himself speaking on behalf of his Fannie Mae
https://m.youtube.com/watch?v=BHIhmNIbDnk
EDIT: Oxley I think I remember going out is the name of the other guy.
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