Yes the recession can be boiled down to just one man LOL...what a maroon [roll]
Well, let's see, W's deregulation of Wall street helped create the housing bubble and allowed risky trading practices. And allowed banks to get into the investment trading business. What a disaster that turned out to be. His tax cuts on the wealthiest 5% cost the US revenue of $2.5-3 trillion all the while his war in Iraq ran up a tab of about $4 trillion. When the housing crisis kicked in, he helped the banks but did nothing meaningful to help the people who really matter-the mortgage holder. So, i can see how you be apprehensive abouut pinning any blame on W. Obviously it was all the evil demiocrat's fault-namely carter and Clinton.
Housing crisis began Congress in 1992 and their passing of "affordable housing goals"...and then continued to increase those goals over the years....add piss poor oversight of Freddie and Fannie...add people got into homes cheaply that they normally couldn't afford while belieiving their home value would only go up - in 2005 Frank Nothaft, chief economist of Freddie Mac, said, “I don’t foresee any national decline in home price values".Well, let's see, W's deregulation of Wall street helped create the housing bubble and allowed risky trading practices. And allowed banks to get into the investment trading business. What a disaster that turned out to be. His tax cuts on the wealthiest 5% cost the US revenue of $2.5-3 trillion all the while his war in Iraq ran up a tab of about $4 trillion. When the housing crisis kicked in, he helped the banks but did nothing meaningful to help the people who really matter-the mortgage holder. So, i can see how you be apprehensive abouut pinning any blame on W. Obviously it was all the evil demiocrat's fault-namely carter and Clinton.
There you have it, just as predicted....Democrats' fault. W had nothing to do with it. Amazing how ignorant you people choose to be.
LOL yes the housing bubble had nothing to do with the recession...talk about ignorance...do you take your glasses off when you put your head in the sand?
Who oversaw the executive branch fro 2001-2009? What was in charge of Freddie and Fannie? Who advocated tax cuts for the wealthiest which deprived the US treasury of $3 trillion. Who chose to invade a country costing $4 trillion? Talk about head in the sand.
Therein lies the difference between reasonable people and wingnuts. Wingnuts are always right. Admitting that they are wrong is an impossibility. Their conservative values are beyond reproach. Admitting that they are wrong-or even complicit in any failed policy-upsets the wingnut apple cart.
You mean only independent under a GOP president. Under a Dem, you and all the others have a different story. Always do.
FRB get its authority from Congress. FRB policy does not need approval from the President. FRB is subject to oversight by Congress.