milkchaser

U.S. Market: So Much Stupidity in Such Little Time

User 27733 is wrong to suggest that Reagan left office with a recession. This is not the case. Republicans do not distinguish themselves from Democrats by taking money from big business. That is a bipartisan activity. Dems are no better than Republicans.

In fact, it was Dems who, far and away, have taken the most money from Fannie Mae and Freddie Mac. None of the credit problems would have happened had those two companies not created a market for questionable securities. Mostly Dems protected those companies (few exceptions like Senator Bennett from Utah) -- Dems such as Dodd and Frank.

In contrast, the Bush administration attempted 17 times to strengthen regulation of Fannie Mae and Freddie Mac. This regulation was sponsored by Republicans and shut down in the Senate by the Democratic minority (prior to 2006, after which regulation had no chance).

True, the crisis occurred during the Bush administration, but point to specific causes (as just have) to explain how Bush screwed up. Bragging about home ownership is not a very likely cause of the crisis.

Bush tried to prevent this, but failed because of Democratic opposition, yet Bush gets the blame. I suspect that Democrats knew that Bush would take the blame and that their obstruction would not redound to harm their political prospects. Politics is like that. It ain't beanbag.

Will Republicans jump to help Obama whose over the top vilification of Bush and Republicans he now dismisses as so much "campaign rhetoric"? As if to say, "I only said that to get elected. Nobody really believes it, do they?" Yeah, the Republicans are going to forgive and forget.

And why bash big business. Big businesses create jobs and profits. When they do, politicians take the credit, "I created X million jobs". No they didn't. Even when politicians create gov't jobs, they pay for them with taxes that they take from corporations and people who otherwise would also create jobs.

I expect that Obama and the Dems will tank the economy, which is not yet as bad as the 1982-83 recession. If it gets worse, blame Obama and his Democratic majority.