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Qtec
05-04-2010, 04:09 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Pelosi: <span style='font-size: 20pt'>Bush Admin Barred Officials From Briefing Congress On Impending Financial Crisis in Fall 2008</span>

Nearly two years after the Wall Street meltdown drove the U.S. economy to the brink of collapse, and forced the U.S. government to prop up major financial institutions with hundreds of billions of dollars, House Speaker Nancy Pelosi now claims that <span style='font-size: 20pt'>the Bush Administration prohibited its own top officials who were handling the emerging crisis from briefing Congress until a complete financial collapse was only hours away.</span> </div></div> surely not true? (http://tpmdc.talkingpointsmemo.com/2010/05/pelosi-bush-administration-barred-officials-from-asking-congress-for-financial-sector-bailouts.php?ref=fpb)

That nutjob Pelosi, who can believe her?

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Greenspan Wanted Housing-Bubble Dissent Kept Secret

First Posted: 05- 3-10 11:30 AM | Updated: 05- 3-10 03:09 PM



As top Federal Reserve officials debated whether there was a housing bubble and what to do about it, then-Chairman<span style='font-size: 20pt'> Alan Greenspan argued that the dissent should be kept secret so that the Fed wouldn't lose control of the debate to people less well-informed than themselves.

"We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand," Greenspan said, according to the transcripts of a March 2004 meeting.
</span>
At the same meeting, a Federal Reserve bank president from Atlanta, Jack Guynn, warned that "a number of folks are expressing growing concern about potential overbuilding and worrisome speculation in the real estate markets, especially in Florida. Entire condo projects and upscale residential lots are being pre-sold before any construction, with buyers freely admitting that they have no intention of occupying the units or building on the land but rather are counting on 'flipping' the properties--selling them quickly at higher prices."

Had Guynn's warning been heeded and the housing market cooled, the financial collapse of 2008 could have been avoided. But his comment was kept secret until Friday, when the central bank released the transcripts of Federal Open Market Committee meetings for 2004 and CalculatedRisk spotted it. The transcripts for 2005 to the present are still secret. </div></div> do not not tell anybody (http://www.huffingtonpost.com/2010/05/03/greenspan-wanted-housing_n_560965.html?view=print)


It was no coincidence that the moment it was clear that Obama would win GW dropped a bombshell on him.

Q....the truth will out.

Sev
05-04-2010, 06:49 AM
Just think.
If Freddie and Fanny were never formed the crisis would never have occurred. That is the epicenter of the meltdown.

The unintended consequences of government interference in the open market.

Gayle in MD
05-04-2010, 09:41 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Pelosi: <span style='font-size: 20pt'>Bush Admin Barred Officials From Briefing Congress On Impending Financial Crisis in Fall 2008</span>

Nearly two years after the Wall Street meltdown drove the U.S. economy to the brink of collapse, and forced the U.S. government to prop up major financial institutions with hundreds of billions of dollars, House Speaker Nancy Pelosi now claims that <span style='font-size: 20pt'>the Bush Administration prohibited its own top officials who were handling the emerging crisis from briefing Congress until a complete financial collapse was only hours away.</span> </div></div> surely not true? (http://tpmdc.talkingpointsmemo.com/2010/05/pelosi-bush-administration-barred-officials-from-asking-congress-for-financial-sector-bailouts.php?ref=fpb)

That nutjob Pelosi, who can believe her?

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Greenspan Wanted Housing-Bubble Dissent Kept Secret

First Posted: 05- 3-10 11:30 AM | Updated: 05- 3-10 03:09 PM



As top Federal Reserve officials debated whether there was a housing bubble and what to do about it, then-Chairman<span style='font-size: 20pt'> Alan Greenspan argued that the dissent should be kept secret so that the Fed wouldn't lose control of the debate to people less well-informed than themselves.

"We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand," Greenspan said, according to the transcripts of a March 2004 meeting.
</span>
At the same meeting, a Federal Reserve bank president from Atlanta, Jack Guynn, warned that "a number of folks are expressing growing concern about potential overbuilding and worrisome speculation in the real estate markets, especially in Florida. Entire condo projects and upscale residential lots are being pre-sold before any construction, with buyers freely admitting that they have no intention of occupying the units or building on the land but rather are counting on 'flipping' the properties--selling them quickly at higher prices."

Had Guynn's warning been heeded and the housing market cooled, the financial collapse of 2008 could have been avoided. But his comment was kept secret until Friday, when the central bank released the transcripts of Federal Open Market Committee meetings for 2004 and CalculatedRisk spotted it. The transcripts for 2005 to the present are still secret. </div></div> do not not tell anybody (http://www.huffingtonpost.com/2010/05/03/greenspan-wanted-housing_n_560965.html?view=print)


It was no coincidence that the moment it was clear that Obama would win GW dropped a bombshell on him.

Q....the truth will out. </div></div>

This is one example of how the Bush Administration operated against the best interests of Americans. Brooksley Bourne, also warned Greenspan years before about the many hidden toxic Wall Street convoluted methods which were sure to bring about the crises. I think I posted the link to the Frontline documentary, which included proof of Greenspans testimoney before congress.

There is no question, Bush's determination for his "Ownership Society" was at the crux of the SEC and rating agencies policies.

One of them even stated in an article, that they didn't come down on what was surely leading to disaster, because it would have been against president Bush's economic policies for the "Ownership Society."

Deregulation, laissez faire economics and the ridiculous notion of trickle down economics, all Republican policies, were at the heart of the crash, in fact, both crashes...

Interesting:

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">laissez-faire economics
Definition
One of the guiding principles of capitalism, this doctrine claims that an economic system should be free from government intervention or moderation, and be driven only by the market forces. Centered on the belief (termed invisible hand by the 18th century Scottish economist Adam Smith) that human beings are naturally motivated by self-interest and, when they are not interfered-with in their economic activities, a balanced system of production and exchange based on mutual benefit emerges. Laissez-faire (French for, allow to pass or let go) economics originated in the 18th century France where economists (then called 'physiocrats') such as Francois Quesnay (1694-1774) and Victor Riqueti-Marquis de Mirabeau (1715-89) became hostile to subsidies and discriminatory economic measures of then prevalent mercantilism. <span style='font-size: 20pt'>They believed in a bountiful nature and innate goodness of humankind,</span> and asserted that governments should leave the individual alone except when social liberties are infringed. In 19th century, this philosophy became the dominant economic thinking in the Western world. <span style='font-size: 20pt'>But soon its failings reflected in the great disparity in distribution of wealth, harsh treatment of workers, disregard for consumer safety, and spread of monopolies, became clear. </span>By the mid 19th century, opposition to laissez-faire economics began and governments in all industrialized countries intervened on behalf of workers and general population. Factory laws and consumer protection laws were enacted and growth of monopolies was checked. Early 20th century saw breakup of monopolies in the US and (after Second World War) nationalization of essential industries and services in Europe. Keynesian economics (which advocates government intervention in the national economy) further undermined it, a process spurred by the great depression of 1930s. From 1970's, however, the pendulum swung back to laissez-faire economics (renamed 'market economy' or 'free enterprise') and brought deregulation of business, and progressive removal of trade barriers, which is continuing.

</div></div>

Republican policies destroyed the economy. While the right chooses to ignore the successes realized for many urban areas, resulting from the increase in revenue from property taxes, which translated to better schools, and more small businesses succeeding in those areas, due to the efforts of Fannie and Freddie in removing discrimination against people of color from the mortgage industry, the fact is Fannie and Freddie's mortgages had very low failure rates.

Fannie and Freddie got completely out of the sub prime mortgage industry in 2003, due to an accounting scandal. Economists agree, the real estate bubble happened after that, when the fly by night mortgage industry took up the slack left by the abscence of F. & F. abd predetory lenders took over and used predatory lending practices to blow up the real estate bubble, along with Greenspan's exuberance in unjustified low mortgage rates, unrelated to the actual economic circumstances of the time, which brought about the huge influx of sub prime, and all of the illegal slicing and dicing, without enough money to back up risks...

What happened on Wall Street during that time, from late 03 through late 05, early 06, was actually the span of time when theft, unethical behavior, CEO pigs, actually brought about the collapse.

I heard Sheila Baird say that anyone who blamed Fannie and Freddie, had no concept of what the meltdown was about, or what caused it. I agree with her, and with "The Warning" which was the title of the Frontline documentary, in which Greenspan, and his allies, pooh poohed the one person who warned the Congress, AND the FEd, and the other oversight agencies, Republicans, BTW, of where they were heading and what was going to happen if they did not change course. And, of course, she was right.

G.

wolfdancer
05-04-2010, 11:12 AM
Q, good find!! Just when I thought I had read all the "bad" about the last admin...even more seems to pop up.
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> and in this regard it is possible to lose control of a process that only we fully understand</div></div> (don't ask, don't tell, maybe?)
Wasn't that the mantra for their entire platform?....

cushioncrawler
05-05-2010, 07:17 AM
Bush and Bush were/are prix.
madMac.

Sid_Vicious
05-05-2010, 08:53 AM
George Walker Bush was, and is a total POS! The saddest fact is that even though bush exhibited more personal crimes of any other president, HE WALKED! What does that say about America!? No wonder the world laughs at the USA. The best thing we could have done would have been to prosecute George Walker Bush, even to the extent of hanging him for treason. Treason is exactly what all of his dirty deeds culminated to. sid

Gayle in MD
05-05-2010, 09:08 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sid_Vicious</div><div class="ubbcode-body">George Walker Bush was, and is a total POS! The saddest fact is that even though bush exhibited more personal crimes of any other president, HE WALKED! What does that say about America!? No wonder the world laughs at the USA. The best thing we could have done would have been to prosecute George Walker Bush, even to the extent of hanging him for treason. Treason is exactly what all of his dirty deeds culminated to. sid </div></div>

Absolutely! Treason by Bush, Cheney, Rice, Rumsfeld, Gonzales, Rove and Libby. They ALL committed treason.

g.

pooltchr
05-05-2010, 09:15 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sid_Vicious</div><div class="ubbcode-body">
The best thing we could have done would have been to prosecute George Walker Bush, even to the extent of hanging him for treason. </div></div>

If anyone suggested that Obama should be prosecuted and hung, they would immediately be labeled as a racist.

If Bush did something illegal, he should be punished. But then, the Dems would also have to be accountable. Why do you think Obama has Bush's back? Perhaps because he knows he is doing the same things in his administration???????

Steve

wolfdancer
05-05-2010, 07:41 PM
Wow, you have worked out a big new conspiracy theory. Bush and Obama are cut from the same cloth!!!
This could begin a whole new series of threads here.
Now folks won't have to keep trying to compare favorably the profiteering crimes of GW, to Bill Clinton having a roll in the sack.....now they can point out that Obama must be guilty of the same criminal acts as gwb....quoting you as a reference

Course, I wonder what crime you are charging Obama with, or was that lynching reference...just some Freudian slip? (That damn 13th amendment)

pooltchr
05-05-2010, 08:17 PM
I didn't mention hanging...Sid brought it up.

And since he thinks that Bush is guilty of something, yet Obama said he wasn't going after him with any criminal charges, one can only assume there must be some reason. Now, we could venture a guess that Obama is such a nice caring and forgiving individual that he just doesn't want to see him prosecuted.....or...we might conclude that he has to be careful to avoid a "pot calling the kettle black" scenario. (No racial reference should be made from that analogy...it's just a saying older than me)

Steve

wolfdancer
05-05-2010, 09:05 PM
Obama has stated in the past why he is not pursuing any investigation into the Bush admin. It hould be pretty obvious why, considering the current external threats.

LWW
05-06-2010, 04:12 AM
Then you shouldn't have any problem explaining his true motivation.

LWW

wolfdancer
05-06-2010, 11:07 AM
I don't care to discuss anything with you. Sorry, but I believe you to be mentally and emotionally unstable. This is my latest hypothesis, after my former idea that you were a teen dealing with some serious hormonal problems. Your mass postings on several sites, along with the contents of those messages, is what I base my opinion on.
No, I am not trained in psychiatric disorders, but as a certified master phrenologist...if I could just study the bumps in your head, and the shape of your skull, I could make a more definitive finding.
Obama's reasonings were published in the media....do your own research....unlike you and Steve, I don't claim any special "insider's" knowledge.

LWW
05-06-2010, 12:41 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: wolfdancer</div><div class="ubbcode-body">I don't care to discuss anything with you.</div></div>

Then why are you doing it?

LWW

Stretch
05-06-2010, 12:43 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: wolfdancer</div><div class="ubbcode-body">I don't care to discuss anything with you. Sorry, but I believe you to be mentally and emotionally unstable. This is my latest hypothesis, after my former idea that you were a teen dealing with some serious hormonal problems. Your mass postings on several sites, along with the contents of those messages, is what I base my opinion on.
No, I am not trained in psychiatric disorders, but as a certified master phrenologist...if I could just study the bumps in your head, and the shape of your skull, I could make a more definitive finding.
Obama's reasonings were published in the media....do your own research....unlike you and Steve, I don't claim any special "insider's" knowledge. </div></div>


Wolf, before you practice phrenology on him you may need the aid of a proctologist. St.

LWW
05-06-2010, 12:46 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Stretch</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: wolfdancer</div><div class="ubbcode-body">I don't care to discuss anything with you. Sorry, but I believe you to be mentally and emotionally unstable. This is my latest hypothesis, after my former idea that you were a teen dealing with some serious hormonal problems. Your mass postings on several sites, along with the contents of those messages, is what I base my opinion on.
No, I am not trained in psychiatric disorders, but as a certified master phrenologist...if I could just study the bumps in your head, and the shape of your skull, I could make a more definitive finding.
Obama's reasonings were published in the media....do your own research....unlike you and Steve, I don't claim any special "insider's" knowledge. </div></div>


Wolf, before you practice phrenology on him you may need the aid of a proctologist. St.
</div></div>

You do realize that you just suggested that Wolfie get help so he can stick his head up my but ... or are you just using big words attempting to convince people you are intelligent and witty?

LWW

Stretch
05-06-2010, 12:55 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Stretch</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: wolfdancer</div><div class="ubbcode-body">I don't care to discuss anything with you. Sorry, but I believe you to be mentally and emotionally unstable. This is my latest hypothesis, after my former idea that you were a teen dealing with some serious hormonal problems. Your mass postings on several sites, along with the contents of those messages, is what I base my opinion on.
No, I am not trained in psychiatric disorders, but as a certified master phrenologist...if I could just study the bumps in your head, and the shape of your skull, I could make a more definitive finding.
Obama's reasonings were published in the media....do your own research....unlike you and Steve, I don't claim any special "insider's" knowledge. </div></div>


Wolf, before you practice phrenology on him you may need the aid of a proctologist. St.
</div></div>

You do realize that you just suggested that Wolfie get help so he can stick his head up my but ... or are you just using big words attempting to convince people you are intelligent and witty?

LWW </div></div>

Sorry, can't hear your muffled response. Can you speek up a little?? St.

LWW
05-06-2010, 04:00 PM
Might I suggest that you extricate your own cranium from the nether regions?

LWW

Stretch
05-06-2010, 09:05 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body">Might I suggest that you extricate your own cranium from the nether regions?

LWW </div></div>

Hello? Hello? Still can't here you! When you come up for air you realy must do something about that ring around the collar. St.

wolfdancer
05-06-2010, 09:24 PM
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