Originally Posted by
Vteckidd
Oh really? Go do some research, both sides share 50% of the blame, period.
The DEMOCRATS wanted poor people who couldnt afford homes to get loans. They strong armed banks to lend to UNQUALIFIED people or they would "investigate" the banks and pull FHA (federal backed loans) from the banks. IE they were told either LEND THIS POOL OF MONEY OUT, OR YOULL GO UNDER.
BUSH didnt do anything to stop it, and he let Paulson (an ex G+S guy) takeover and let banks leverage themselves 40-50-60 times past their credit lines or cash on hand.
Democrats created the problem, Bush and the republicans (beholden to wall street) found creative ways to make it work and insure it, package it as a security to sell it off and profit.
Bush gave you (although you were probably in elementary school) the largest DOW ever, and a period of 4% UE that we had not seen since CLINTON. Obama knew what he was getting involved in, and HE PROMISED to fix it. He hasnt , if things were getting better, i would say give him time, but they arent, they are WORSE.
if they were getting better, the FED wouldnt be pumping in 40-80 billion a month, as previously stated.