Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown

Posted by 203kloan on June 5, 2010 in Fannie Ame · 20 Comments

The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis — starting in 2002 (and actually even earlier — in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn’t afford them — just like you would expect of socialists. See our web site for more. — www.ProudToBeCanadian.ca http — www.proudtobecanadian.ca
Video Rating: 4 / 5

Tags: Bush, crisis, Dems, Financial, housing, McCain, Meltdown, shows, Timeline, warning

203kloan

20 Responses to “Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown”

theRightizright says:

June 5, 2010 at 7:30 am

@PeganCove

lol. Barney Frank, the ‘Banking Queen’. What a disease.
PeganCove says:

June 5, 2010 at 7:41 am

Barney Frank should be in jail, but the problem is he’d love it there!

His favorite Cape Cod sign = “Entering Dennis”.
CountJimbo says:

June 5, 2010 at 8:23 am

I normally dont comment but having read this- u know that the rest of us in Europe openly laugh at your media. Ive heard better “news” coming out of countries lead by dictatorships!. Fox news is a propaganda tool. I find it incredible that an obvious universal truth like that in Europe is actually not understood by so many Americans. But then again I know that facts and universal world hatred are not things which bother those Americans which are politically uneducated
usagill says:

June 5, 2010 at 9:16 am

Barney Frank should be in jail along with all the other Dems who created this scam. Lockem up now
truthinstyle says:

June 5, 2010 at 9:28 am

Dems gave us the Barney/Frank bill??? The Chicago thug and ACORN/Rules for Radicals type move to shove the socialist takeover down our throats, obviously. And Obama continues the destruction of the USA… Time to vote in a real American in 2012! We’re looking for ABO!
Bayhuntr says:

June 5, 2010 at 9:50 am

@AssHatSockPuppet Actually some people are just stupid. Look at the video, it’s making the point that Bush warned a Republican controlled Senate and Republican controlled House, that had been under Republican controlled for years before and years after, of impending doom. But it’s the Democrats who didn’t do anything about it. Some people have their heads so far up their own butts they are looking out their own mouths.
R4t10n4L says:

June 5, 2010 at 10:25 am

@scepticsteve There’s no way loan to poor unqualified borrowers were the sole cause for the crisis. The real meltdown was the unregulated, unprincipled double-dealing using credit default swaps and other esoteric financial instruments that nobody understands and were branded as investment grade.
TheYoungTurdz says:

June 5, 2010 at 11:22 am

@NINJ4JU4N This is hardly misleading. The Banks wouldn’t have ever created perverse incentive to make unsafe loans that they KNEW would not be repaid: 1 because that is bad business. 2 Because they had to give the loans, or they would have had to go to court for being: racist, sexist, or some other government regulated social issue. Some people were just meant to rent.
nuttymanyelismate says:

June 5, 2010 at 12:20 pm

These scum have totally brought America to its knee’s!!!
America has become the most hated nation on earth.
Next for Americans is, Total monetary collapse. The dollar is in decline and no longer looked upon as the currency to trade in. The rest of the world is fed up of the US screwing them and are looking to set up their own collective currency to trade in oil and other commodities.
When this happens, America will collapse under the colossal amount of debt it has accumulated.
8lig says:

June 5, 2010 at 12:21 pm

@fahs
Get a job you lazy asshole.
truthinstyle says:

June 5, 2010 at 12:57 pm

MSNBC and CNN are propagandist for socialism and the Dems. You can only trust FOX!
mannymann321 says:

June 5, 2010 at 1:09 pm

wait a minute this was on fox you can trust them
truthinstyle says:

June 5, 2010 at 1:27 pm

The Dems have destroyed the country and its greatness to enact “Liberalism” which means steal from those who have contributed to the country and give to those who sit around and wait for the next check to come in to pay their cable bill. It is Socialism and Communism that Obama wants to bring to America with his Hope and Change. It is really the end of the USA. Vote conservative Republican in 2012 to stop this destruction of America!
IAmFourLeaf says:

June 5, 2010 at 1:49 pm

lol of course bush predicted a financial crash. he is responsible for it! can’t believe anyone actually listens to fox, the right wing think tank
AssHatSockPuppet says:

June 5, 2010 at 1:50 pm

Let’s just say the obvious:
Anyone who is critical of, disagrees with, questions or didn’t vote for OweBama – IS A RACIST!
truthinstyle says:

June 5, 2010 at 2:29 pm

And the Dems/Socialist voted to destroy the USA economy with the Dodd/Frank Bill enacted before the conservatives took control of the House in 2010 which the Dems should have named the “I want to destroy the American economy with more regulation with the help of filthy ACORN groups that screw hard working people like Freddie and Fannie corruption did so that Socialism can end personal responsibility and Capitalism which made America great”. Instead it is Barney/Frank after these two are crooks!
forzapack says:

June 5, 2010 at 3:23 pm

Home ownership is not a right. It is a privilege that must be earned. Government has no business at all in the mortgage business. Home ownership is still declining and at the lowest level since WWII. Again, government means well but there are unintended consequences…
MACH3KAWASAKI says:

June 5, 2010 at 3:45 pm

@Handelson71
I’m so tired of You Liberal Weenies blaming Bush for all of your mistakes. You dumb asses
managed to put into office a “feel good” minority .A militant, mongrel, muslim, socialist who hates
our country, and is bent on our destruction. It seems that we’re stuck with hussein through the
next election, or we get real lucky !! So, couldn’t we just sew his lying lips shut, tie him hand
and foot, and lock him up in a dark closet for about 18 months?
NINJ4JU4N says:

June 5, 2010 at 4:39 pm

This is a bit misleading. Regulating Fannie Mae and Freddy Mac would not necessarily have meant regulating the derivatives that led to the housing crisis. It wasn’t an issue of too much incentive on the governments part to make these bad loans. Banks (often inadvertently) created perverse incentives to make unsafe loans, then package them into groups of loans that were sold as bonds. For a good book on this, read The Big Short: Inside the Doomsday Machine by Michael Lewis.
PoTaTeRsX says:

June 5, 2010 at 5:36 pm

The financial meltdown would have happened regardless of the 2008 presidential outcome. Remember, the big banking companies and lobbyists call the shots for BOTH PARTIES. Americans have become so delusional with this so called “two-party” system. Two choices isn’t enough, especially when in the grand scheme of things you only get one!!