>>> Crashing the economy was Bush's (and Congress's) fault but spreading BS
>>> that doesn't pass the smell test was probably not.

>> <What specific acts did Bush take during his term that caused the collapse?>

>> Easy fella, I responded to Gunner's gratuitous "It's not Bush's fault."

>> But if you want a real answer, Bush's tax cuts decreased revenue and his two
>> wars increased expenses.  That's a pretty damn simple way to pump up the
>> debt.  Recent surveys show people believe that's exactly what happened. So
>> do I.

> Odd that the wars cost at most..over 12 yrs...1.1 Trillion dollars
> total.  And the 3.5 trillion in bailouts Your Obamassiah gifted his
> friends with in the past 4 yrs.....?

>> Bush pursued the free-marketer's goal to deregulate Wall Street which helped
>> build the housing bubble and allowed financial institutions to pursue risky
>> trades unchecked. In fact, Bush's minions, Greenspan, Levitt and Rubin were
>> claimed to be dead set against regulating derivatives, something that might
>> have blunted the severity of the collapse.

> Build the housing bubble?  You seem to be ignoring the fact that Bush
> and Co warned the Left that the housing bubble was in trouble..and was
> not just ignored..but castigated by the Left.

> http://nicedeb.wordpress.com/2008/09/21/the-white-house-warned-congre...

> http://www.youtube.com/watch?v=TXqxN1XBMH8

> Did liberals collapse the housing market?

> HOW THE ECONOMY COLLAPSED 1011 1977: Jimmy Carter (D) signs the
> Community Reinvestment Act, guaranteeing home loans to low-income
> families.

> 2 September 14, 1993 Bill Clinton (Democrat) signs NAFTA bill, killing
> US jobs

> 3 December 08, 1994 Bill Clinton (Democrat) signs GATT, killing US
> jobs

> 4 September 03, 1998, HUD publishes report damning FREDDIE MAC and
> FANNIE MAE for not lending home loans to unqualified blacks and
> Mexicans. EEOC charges that FREDDIE MAC and FANNIE MAE create
> "hostile" work environment toward blacks

> .5 1999: Bill Clinton (D) puts the CRA on steroids, pushing Fannie Mae
> and Freddie Mac to increase the number of sub-prime loans.

> 6 March 02, 2000, Franklin D. Raines (Democrat) chairman of FANNIE MAE
> pledges to open lending to unqualified blacks and Mexicans

> .7 October 10, 2000 Bill Clinton (Democrat) signs U.S.-China Relations
> Act of 2000, killing US jobs

> 8 April 2001, Bush administration raised red flags over massive
> low-documentation loans by FNMA

> 9 September 30, 2002, African-American Safiyyah Rahmaan, (Democrat)
> sues FANNIE MAE for not lending to enough unqualified blacks

> .10 September 10, 2003, Treasury Secretary John Snow (Republican)
> recommends to the House Financial Services Committee to impose
> controls on FANNIE MAE and FREDDIE MAC. Barney Frank (Democrat) and
> Maxine Waters (Democrat) object to controls.

> 11 October 2003, less than a month later, Fannie Mae disclosed 1.2
> billion dollars in "accounting errors".

> 12 November 2003, Bush Administration increases warnings of toxic
> loans made by FANNIE MAE.

> 13 December 21, 2004, Franklin Raines (Democrat) resigns from FANNIE
> MAE

> .14 February 2005, Bush budget plan exposes potential disaster from
> FANNIE MAE loans.

> 15 February 17, 2005, Alan Greenspan recommends limits on FANNIE MAE
> lending.

> 16 April 6, 2005, Senator Chuck Schumer (Democrat) refutes placing
> limits on FANNIE MAE.

> 17 June 2005, Deputy Secretary of Treasury, Samuel Bodman (Republican)
> warns of risks caused by FANNIE MAE lending to unqualified lenders.

> 18 April 2006, Goldman Sachs sold $494 million of securities on toxic
> FANNIE MAE loans.

> 19 May 25, 2006, Senator John McCain (Republican) warns of risks of
> slack limits on FANNIE MAE lending.

> 20 August 2007, Bush (Republican) asks Congress to put through limits
> on FANNIE MAE lending.

> 21 December 2007, Bush (Republican) warns Congress to hurry limits on
> FANNIE MAE lending.

> 22 March 2008, Bush (Republican) warns Congress again.

> 23 April 2008, Bush (Republican) warns Congress again.

> 24 April 2008, Goldman Sachs donates $1,000,000 to Obama campaign.25
> April 2008, AIG donates $630,000 to Obama campaign.

> 26 April 2008, Morgan Stanley donates $485,823 to Obama campaign.

> 27 May 03, 2008, Bush (Republican) warns Congress again.

> 28 May 19,2008, Bush (Republican) warns Congress again.

> 29 May 31, 2008, Bush (Republican) makes radio address warning
> Congress to pass limits on FANNIE MAE.

> 30 June 2008, Bush (Republican) warns Congress again.

> 31 July 2008, Congress finally passes a reform bill on FANNIE MAE
> lending.

> 32 November 4, 2008, Hussein Obama elected president.

> 33 December 18, 2008 House Oversight and Government Reform Committee
> conducts further hearings into FANNIE MAE and FREDDIE MAC.

> 34 February 17, 2009, Hussein Obama (Democrat) signs bailout program.

> 35 March, 2009, AIG reports $62,000,000,000 loss.

> 36 April 2009, Goldman Sachs reports $780,000,000 loss.

> 37 April, 2009, Morgan Stanley reports $1,300,000,000 loss.

> 38 American taxpayers get stuck in the #$%$ with over $787,000,000,000
> in bailouts

> Best Answer - Chosen by Asker

> The first thing liberals did when the sub-prime mortgage was
> instigated before the November elections was to say "There is plenty
> of blame to go around" It was said instantly and loudly from every
> newspaper and television station. It was said consistently. There
> appeared to be no equivocation.

>   However. Not one of those pablum distributing liars ever gave a
> single example of Conservative values causing the catastrophe. This
> was done by liberals and for liberals. You mention how derivatives of
> the bad loans were made possible by deregulation of the Glass Stegal
> Act. This was the sole instance of deregulation and it was done to
> make the Community Reinvestment Act work better.

> Since all liberal thought, policy, values and beliefs are based on
> specific, and very alluring lies. All liberal rhetoric is
> justification of those lies. Liberals instantly started to say this
> debacle was caused by "deregulation" in order to justify larger
> government intrusion into our lives.

>   Deregulation became the enemy and regulations were deemed good. Go
> figure??

> Just to debunk the myth that deregulation caused the sub-prime tsunami
> let me postulate a housing and loan market with no regulations at all.

>   There would be no fannie or Freddie to assume bad loans. banks who
> made loans would be on the hook if they went bad and 50% of the wealth
> of our nation would not have been squandered.

> Yes! Liberals did collapse the housing market. The next question to
> consider is, did they do it deliberately?

> Gunner

> "The national budget must be balanced. The public debt must be
> reduced; the arrogance of the authorities must be moderated and
> controlled. Payments to foreign governments must be reduced,
> if the nation doesn't want to go bankrupt. People must again
> learn to work, instead of living on public assistance."

> (Marcus Tullius Cicero, 55 B.C.)