View Poll Results: Who is most responsible for the economic failure

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47. You may not vote on this poll
  • People who borrowed too much

    19 40.43%
  • Liberal Dem. Congress

    19 40.43%
  • Republican Congress

    2 4.26%
  • Bad companies

    6 12.77%
  • President Bush

    1 2.13%
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  1. #21  
    CU's Tallest Midget! PoliCon's Avatar
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    Quote Originally Posted by patriot45 View Post
    Well, they said it themselves, they poll mainly democrats in thse polls! It should lean that way, look at our little poll, the dems are taking the brunt.
    Only lids voted for Bush!
    It's also a well known fact that the "party in power" tend to get the blame for any economic woes whether they deserve the blame or not. I think it's telling that less than half of Americans polled blame the republicans when conventional wisdom says that most of the blame should be on the republicans.
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  2. #22  
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    Quote Originally Posted by Cold Warrior View Post
    Given a simpler choice, Republicans or Democrats, it appears the sentiment here doesn't necessarily coincide with that nationally...
    If the objective is to find out who is to blame, then the opinions of large numbers of uninformed citizens is hardly accurate. These are the same people who vote yet cannot answer simple civic questions regarding our political system.

    If you want to know who FEELS is to blame, then your poll is a fair gauge.
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  3. #23  
    Senior Member Constitutionally Speaking's Avatar
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    Quote Originally Posted by Cold Warrior View Post
    Given a simpler choice, Republicans or Democrats, it appears the sentiment here doesn't necessarily coincide with that nationally...
    Thus proving that either people are incredibly stupid - or incredibly ignorant.
    I long for the days when our President actually liked our country.
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  4. #24  
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    Quote Originally Posted by Constitutionally Speaking View Post
    Thus proving that either people are incredibly stupid - or incredibly ignorant.
    Perhaps. However, if this were such a big problem, can you name one bill that came out of committee during the period 2000-2006 that was designed to address this critical problem? Remember, that it only takes a majority to bring a bill to the floor and that, excepting the Jeffords period, the Republicans chaired every committee and held the White House. What were they doing? Please don't tell me the Idiot Child or McCain "gave a speech."

    This crisis is the nail in the coffin for McCain, unless something dramatic happens in the next 1+ months to change the dialogue.
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  5. #25  
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    Greenspan's Warning
    The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn't be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie ``continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'' he said. ``We are placing the total financial system of the future at a substantial risk.''

    What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

    Different World

    If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

    But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

    That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''

    Mounds of Materials

    Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.

    But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

    Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.

    Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.

    There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

    Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
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  6. #26  
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    But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.
    Bullshit. If this were so life and death, why didn't the Rs either bring it to a vote or force the fillibuster? That way they would have, at the very least, been on record as attempting to do something.
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  7. #27  
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    Quote Originally Posted by patriot45 View Post
    Well, they said it themselves, they poll mainly democrats in thse polls! It should lean that way, look at our little poll, the dems are taking the brunt.
    Only lids voted for Bush!
    I didn't vote... I wanted to say "all of the above" but that option didn't exist.

    Do you want to know who I really think is to blame? George Bush, Bill Clinton, Barack Obama, John McCain, Nancy Pelosi, Ronald Reagan, Jimmy Carter, George Mitchell, Henry Paulson, Ben Bernanke, Chris Dodd, Joe Biden, Herbert Allison, Alan Greenspan and well, pretty much everyone. This isn't about Democrats or Republicans because both are equally at fault for letting it get so out of control, so to try and turn this whole disaster into a partisan ploy is stupid.
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  8. #28  
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    right down to the american people, who spend 110 percent of what they earn, and buy houses that they can't afford. Who believe the concept of saving money is outdated and old fashioned. Who believe the government should provide them with the necessities of life. And also the greedy bastards in the halls of the finance houses and industry, who believe in privatized profits, but socialized losses.
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  9. #29  
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    Quote Originally Posted by Eyelids View Post
    I didn't vote... I wanted to say "all of the above" but that option didn't exist.

    Do you want to know who I really think is to blame? George Bush, Bill Clinton, Barack Obama, John McCain, Nancy Pelosi, Ronald Reagan, Jimmy Carter, George Mitchell, Henry Paulson, Ben Bernanke, Chris Dodd, Joe Biden, Herbert Allison, Alan Greenspan and well, pretty much everyone. This isn't about Democrats or Republicans because both are equally at fault for letting it get so out of control, so to try and turn this whole disaster into a partisan ploy is stupid.
    OMG, I'm actually agreeing with you. :eek::D
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  10. #30  
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    Quote Originally Posted by Eyelids View Post
    I didn't vote... I wanted to say "all of the above" but that option didn't exist.

    Do you want to know who I really think is to blame? George Bush, Bill Clinton, Barack Obama, John McCain, Nancy Pelosi, Ronald Reagan, Jimmy Carter, George Mitchell, Henry Paulson, Ben Bernanke, Chris Dodd, Joe Biden, Herbert Allison, Alan Greenspan and well, pretty much everyone. This isn't about Democrats or Republicans because both are equally at fault for letting it get so out of control, so to try and turn this whole disaster into a partisan ploy is stupid.
    Agreed except we need to find out how if we are trying to fix it. Otherwise we allow the guilty to go unpunished and the events to happen all over again.
    Education without values, as useful as it is, seems rather to make man a more clever devil.
    C. S. Lewis
    Do not ever say that the desire to "do good" by force is a good motive. Neither power-lust nor stupidity are good motives. (Are you listening Barry)?:mad:
    Ayn Rand
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