In response to:

Quit Blaming Bush

Hard Thought Wrote: Oct 10, 2012 6:52 AM
Idiot!! The banking crisis started with the Community Reinvestment Act under Carter and a Democrat Congress, strengthened by Clinon and Cisneros with punitive audits and prosecutions, was strengthened under Frank and Dodd, profited on by Frank Demarco of Countrywide fame and democrat extrordinaire. Banks were pushed to loan to people unable to repay or face prosecution, For God's sake! Didn't you know that Frank and Dodd got rules passed making unemployment countable as income when applying for a loan? What dark, dank, democrat hole do you live in?
Rich Not wealthy Wrote: Oct 10, 2012 11:12 AM
Not only that, but Jonah's explanation "mixture of greed, idealism, cynicism and stupidity led to the practice of bundling those iffy mortgages into financial instruments" is wrong. It was the regulators themselves that forced Fannie and Freddie to bundle those mortgages such that no one could know what the risk was. Prior to that, all the bundles were of "like risk, like terms" so that the hedge manager would know the risk he was hedging against. I was in the hedge fund manager's office on the day they did this. He lamented that he could no longer do his job properly as there was no way to know the risk of any given bond bundle.
"Now Gov. Romney believes that with even bigger tax cuts for the wealthy, and fewer regulations on Wall Street, all of us will prosper. In other words, he'd double down on the same trickle-down policies that led to the crisis in the first place." -- President Obama in an ad released Sept. 27.

This is Obama's core message. In one way or another, he says it all the time. It's his kicker on the stump. You cannot watch an interview with the president or one of his subalterns without hearing it.

And yet, I don't think I've ever heard a...