We have Bill Clinton's legacy to thank for the mess we find ourselves in--here's the NY Times article to prove it. Anybody who solely blames the current administration needs to remember that President Clinton and the Democratic Leadership did more than their part to get us here.
Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times
Yemen to America: Just give us the money and go away
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American taxpayers forked over nearly $70 million to Yemen in security aid
last year. [...] Read the rest »
35 minutes ago
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4 comments:
Yes, it is all Bill Clinton's fault. None of it has anything to do with Americans living beyond their means, investment bankers getting greedy and overzealous with packaging mortgages, or our government turning a blind eye to all of this or failing to slow it down when it still could have. It's all the fault of some guy who was in office eight years ago.
Are you really that naive? Bill Clinton is certainly partly at fault, but so is George W. Bush and his administration, as well as the SEC and "joe six pack American" who took out too many mortgages, accrued too much credit card debt, and then declared bankruptcy.
And by the way, I used to read your blog when you posted about aviation. What happened to that blog? Every time I look here now, it is some bitter post about evil democrats and liberals.
If you really think Republicans and conservatives are immune from making horrible mistakes, witness our government right now practicing socialism by buying out our banks when they fail. Read this article: http://www.cnn.com/2008/POLITICS/10/22/rigging.election/index.html
Both sides have made mistakes, and continuing to solely blame democrats in such a radical right wing way further alienates any readers you did have who enjoyed your aviation posts, and further makes you look like an extremist who drinks beer and burns crosses down south to scare the colored folk out of voting democrat.
I doubt you'll even approve this post to show up on your website, because anyone who disagrees with you must be wrong. If this type of radicalism and division is taking over our country, I guess I am anti-American, even though I am a military veteran and a commissioned officer just like you.
Tom in Colorado:
The point of this post is that the mainstream media is quick to solely blame the current Bush administration policies on this mess and fail to acknowledge that a democratic president, i.e. Bill Clinton and the democratically-controlled congress (with an unbelieveably low approval rating) had just as much to do with our economic challenges, if not more.
Many left-wing fringe liberals frame our economic situation as another reason we should entrust Obama to the presidency and not elect "more of the same" McCain. Anyone who uses this argument is ignorant and ignores all the facts, considering this article proves that this all started before Bush ever thought about running for president. Did Bush contribute? Maybe he did..I have no idea. But the argument that it's ALL Bush administration policies is BS, as I'm sure any rational person can agree.
Did you read my post on 9/29 about the irresponsible behavior of CEO's and executives of mortgage lenders and Wall Street Investment Bankers? I think I made it clear that everyone is to blame, yes even "Joe Six-Pack."
Before you leave a post like that, you might want to do a bit more homework on what you assume I think.
BTW, I dont take posts down. In fact, I welcome posts like yours. However, I reserve the right to write pretty much whatever I want whether you agree with it or not.
The idea of a president making up for the mistakes of a previous administration is almost an impossiblility. And having a fresh start is virtually a false concept with the way that our economy and government operates. Every President taking office is taking on the unfinished initiatives and failing policies of the previous leadership. This is true of Clinton, Bush and whoever is next up to bat.
But, no matter what your perspective, Fannie Mae's pilot program of lowering the standards for credit requirements to expand mortgage lending among low income and minority borrowers was a risky and ill-devised plan for even the most stable economic environment.
The fact that the Clinton Administration applied pressure to enact this mortgage loan program directly fueled the inevitable decision of the Bush Administration to bail the country out of the financial pitfall that ensued years later because of those same mortgage loans.
The borrowers are certainly also at fault for taking on debt that they could not afford, but we all know that we often allow our lifestyles to push our financial means, and then rely on the consequences of our actions to keep us in check.
I think it is pretty clear that good intentions in a particular direction often mess up something else unintentionally by throwing the system off-balance. This is true politically, economically, environmentally and socially.
So my point is, that personally attacking a blog for pointing out circumstantial facts is a bit immature. Placing blame on a particular presidency or political party is also a bit naive.
But objectively commenting on the facts of articles published in the NY Times and CNN is well within the realm of a balanced blog and should not be subject to accusations of radicalism and divisive persuasions!
Tom from Colorado needs to back off and not make such asinine assumptions about a fellow military veteran, commissioned officer, and aviation enthusiast.
Sounds like a purely emotional and defensive response to things Tom suspects (deep down) might be true if you ask me.
Wait.
Do my eyes deceive me?
Am I actually seeing the first anonymous post on a blog that makes more sense than the "named commenter" blurb that started this thread?
Wizard!
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