Who REALLY Caused The Financial Meltdown... and who tried to stop it

Without explaning myself with page after page of explanation, I blame the mess about 80% on the Democrats staring with Carter's little law to help the poor.

And, yes, the Republicans had a majority in congress 2000-20004 but not large enough that Dems couldn't block legislation that may have prevented the crisis. Then they did it again around 2006.

Bush2, Greenspan, McCain and others sounded the alarm but the Dems wanted to keep their non-taxpaying, poor base in their pocket by making sure they got plenty of freebies and special rights.

Frank, Dodd, Pelosi and many others in congress should be taken out and shot!

We should, at the very least, demand term limits in congress and put an end to professional senators and congressmen.
 
Thank you Arnie, Why is it so many times people want to dump this one on one faction or the other. They are all equally guilty and equally not guilty and if anyone is guiltier than the other its, us, the people for creating the mania and not giving a crap about the ramifications... oh... until it goes in the toilet... then we hear.. "its not my fault".. It's AIG execs taking 1/10 of 1% of the bailout money for bonuses, Its Bernie Madoffs... Yeah Madoff.... its like saying we dropped the bomb but were not responsible for the nuclear fallout...

What a bunch of whiney, crybaby, self indulgent, entitled goons we have become. Time to shutup and take a page out of the book of a couple generations ago because believe me if we do fall into a depression, you just may have to sell your X-box... How's that for a dose of reality... Not the X-box! Oh no...

Ghostdog

Quote from Arnie:

This started over 30 years ago. It wasn't any one person or group or the government.
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I don't think you can blame this solely on one knucklehead who was sleeping behind the counter and accidentally pushed 'THE' button that magically ignited the economy in a downward spiral.

That would be too easy and simplier to explain this FUBAR of economic events that has transpired of lately.

Rather, this is a collection of Wall Street cronies who over the years, slowly perfected its craft of working closely to maximize profits to the tenth degree.

To Wall Street, this was all about wealth creation and making the very most one could possible make and at any cost to do so.

As far as who tried to stop this...well, they didn't do a gosh dam good job of doing it.
 
Quote from uptick1:

I don't think you can blame this solely on one knucklehead who was sleeping behind the counter and accidentally pushed 'THE' button that magically ignited the economy in a downward spiral.

That would be too easy and simplier to explain this FUBAR of economic events that has transpired of lately.

Rather, this is a collection of Wall Street cronies who over the years, slowly perfected its craft of working closely to maximize profits to the tenth degree.

To Wall Street, this was all about wealth creation and making the very most one could possible make and at any cost to do so.
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So.... because there are so many sins by so many people, we should just accept our lot and hold nobody accountable?

After all, don't you think the future of those 40-ish and younger is going to be pure crap in America... thanks to all of those "sins we should just accept"..??

The country swooned over the Obama election... plus the Dem's control of both houses. Yet the Democrats were PRIMARILY responsible for policies which lead to this housing crisis and related mess.... and NOW THEY'RE IN CONTROL OF EVERYTHING!

What are we all so giddy about, anyway? Not just that "Obama isn't Bush"... THAT can't be it...
 
Quote from Scataphagos:

So.... because there are so many sins by so many people, we should just accept our lot and hold nobody accountable?
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I am not condoning Wall Street's action one bit. I was merely stating it wasn't 1 person's fault but rather a collection of numb nuts that caused this economic melt down.
 
Quote from lolatBushites:

You should try a different forum to purvey your nonsensical theories.

The reason for current mess is entirely caused by Republican Deregulation, elimination of all over sight, Massive spending on borrowed funds, incompetence and plain old corruption.

The mess began with Reagan, continued with Bush 1 and Bush 2, with Phil Gramm, the "High Priest" of deregulation lighting the high octane bull legislation to the entire Republican deregulation mess.

Most Democrats are culpable to the extent that they are JUST PLAIN STUPID and were just plain SCARED to say or do anything. The Democrats that are as crooked as Republicans are Chris Dodd, Charles Rangel. Democratic Stupidity is different than Republican Corruption. Unlike the average crooked ( AND stupid) Republican politician , Barney Frank is just plain stupid.
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So... you say "Republicans are evil and corrupt" while "Democrats are merely scared and stupid"? That's so moronic it's actually comical!

And you accuse ME of having nonsensical theories? Do you really expect that anyone on ET believes you are other than a half-wit?

I stated a FACT... the Democrats in 1999 initiated the policy of mortgage lending to non-qualified borrowers.
 
Quote from Ghostdog:

Thank you Arnie, Why is it so many times people want to dump this one on one faction or the other. They are all equally guilty and equally not guilty and if anyone is guiltier than the other its, us, the people for creating the mania and not giving a crap about the ramifications... oh... until it goes in the toilet... then we hear.. "its not my fault".. It's AIG execs taking 1/10 of 1% of the bailout money for bonuses, Its Bernie Madoffs... Yeah Madoff.... its like saying we dropped the bomb but were not responsible for the nuclear fallout...

What a bunch of whiney, crybaby, self indulgent, entitled goons we have become. Time to shutup and take a page out of the book of a couple generations ago because believe me if we do fall into a depression, you just may have to sell your X-box... How's that for a dose of reality... Not the X-box! Oh no...

Ghostdog
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Please, Dog, don't foist the imbecile-grade mush you see on TV on all of America. Certainly those who've overextended their abilities share some blame, but none more than those who lost the most (dough that is: too big to fail is fucking ridiculous). Most reasonable and responsible persons I know are whining adn crying mightily over the indescribable waste of our resources, wealth, and heritage. When is enough too much?
 
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