What is even funnier about this is that you actually provided a link that talks about "steal deregulation" and then goes on to talk about 'deregulation' of the FDA and Minerals Management Service in an attempt to show that "deregulation" contributed to an economic collapse.
In other words, you are so fucking dumb that you can't even remember the point you were trying to respond to.
Unless of course you think the MMS has oversight of derivative trading and the sales of Single Family MBS or something.
I have never, ever seen anyone as idiotic as you post here. You make the kid from Alaska seem informed.
That says a lot.
There was no "deregulation" that would lead to an economic collapse, dumb fuck. And you might want to stop linking to blogs that talk about "stealth deregulation" of the FDA to try and back up your silly, dipshit claim.
Since there was no deregulation (only "stealth deregulation"!!), please point out how any tax cuts lead to an economic collapse given such a thing has never happened in the history of America.
Your next reference will be worse than the 1st. I'm quite certain...
How about fact check? Says Bush admin failed to provide oversight? They are lying also?
www.factcheck.org/2008/10/who-caused-the-economic-crisis/
"massive tab for 2 wars"
What a fucking goof. Who says something so dumb?
Anyway, more on that "massive tab" right before Democrats took control of Congress:
Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.
The main reason is a big spike in corporate tax receipts, which have nearly tripled since 2003, as well as what appears to be a big increase in individual taxes on stock market profits and executive bonuses.
*Another NY Times reference. That article leads us to another in the Washington Post: Deficit Falls to Lowest Level in 4 Years
(And note that the FY 2007 deficit fell to $163 Billion)
"Massive tab"
What a fucking goof.
What a fucking goof. Who says something so dumb?
Anyway, more on that "massive tab" right before Democrats took control of Congress:
Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.
The main reason is a big spike in corporate tax receipts, which have nearly tripled since 2003, as well as what appears to be a big increase in individual taxes on stock market profits and executive bonuses.
*Another NY Times reference. That article leads us to another in the Washington Post: Deficit Falls to Lowest Level in 4 Years
(And note that the FY 2007 deficit fell to $163 Billion)
"Massive tab"
What a fucking goof.
How about this?? Had enough yet.....just stay down on the mat kid
www.investmentwatchblog.com/bushs-p...-american-dream-act-caused-the-crash-of-2008/
www.investmentwatchblog.com/bushs-p...-american-dream-act-caused-the-crash-of-2008/
Uh, you were already provided references that prove the Bush Administration wanted more oversight of GSE's
A blanket claim that provides a non-working link as the fact check article does, isn't fact.
Further, "failed to provide oversight" is not "deregulation"
This is hysterical. The reference, in an attempt to prove there was "deregulation" says:
Here’s a partial list of those alleged to be at fault:
- The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.
- Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.
- Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.
- Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.
- The Clinton administration, which pushed for less stringent credit and downpayment requirements for working- and middle-class families.
- Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.
- Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.
- Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.
- The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.
- An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.
- Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.
Perfect example of what happens when the private sector is left unregulated. They will eat their own for more profits. The second they allowed those greedy pieces of shit in Wall Street to get their hands in the housing market, it all went to shit. They were able to destroy decades of sustainable housing growth and ruin it in within 7 years.
