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Bill Clinton says Dems to blame for financial crisis - 9/25/2008 10:14:04 AM   
cyberdude611


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Status: offline 		Bill Clinton did an interview with ABC's Chris Cuomo and he said the following:
"Democrats for years have been resisting any efforts by Republicans in the Congress or by me when I was president to put some standards and tighten up a little on Fannie Mae and Freddie Mac."
 
http://newsbusters.org/blogs/noel-sheppard/2008/09/25/fox-news-blames-democrats-financial-crisis-bill-clinton-agrees
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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 10:25:05 AM   
kittinSol


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Status: offline 		Dude, it's the second time in as many days that you paraphrase incorrectly to make a quote fit your purpose: at least, try and sound a little less obvious and tabloidy about it? It's insulting  .

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 10:29:15 AM   
bipolarber


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Status: offline 		Um... maybe it's just me... but does the video sound like it's been edited? They do a cut away from Clinton, just as he finished that statement, they go to a graphic, and you hear the conversation change suddenly. You don't suppose that they are taking his full staement out of context, do you?

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 10:31:58 AM   
cyberdude611


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Status: offline 		This is the video of him saying it... He clearly says one of the reasons Fannie Mae and Freddie Mac has failed is because Democrats have been resisting efforts to reform the two.

http://blogs.abcnews.com/politicalradar/2008/09/bill-clinton-do.html

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 10:39:47 AM   
dcnovice


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quote:

He clearly says one of the reasons Fannie Mae and Freddie Mac has failed is because Democrats have been resisting efforts to reform the two.


He does say that, and then goes on to talk about the repeal of the "uptick rule." That's different, though, from saying that the Democrats are (solely) to blame for the crisis, as your thread headline says.

It is interesting how everyone in America has suddenly discovered the virtues of government regulation!

< Message edited by dcnovice -- 9/25/2008 11:10:39 AM >

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 10:54:57 AM   
Joenextdoor


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Status: offline 		I watched the video clip, and you are correct cyberdude.  For anyone, like Nancy Pelosi and others to say that its all Bush's fault, shows they are either ignorant or just partisan.  There are clearly no clean hands on this one.  The Republicans are always looking to reduce regulation in order to allow business to grow, but there has to be some measure of regulation.  The Democrats have wanted to see greater numbers of minority and low income people own homes, but in the end, those people still have to make their payments.  When you get a loan that you can barely afford when times are good, it only stands to reason that you will not be able to make it when times get leaner.  There are also people who did not do their homework and got bad loans, or loans when they should have known better.  You also cannot excuse the predatory lenders who dressed up loan packages just to get the loan approved, then immediately dumped the loan off on someone else.  They got the upfront fees and absolved themselves of responsibility for it.  I fault Bush for not making a more forceful public statement about this impending mess when he could have. 

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:03:36 AM   
SilverMark


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Status: offline 		More than enough blame to go around. The consumers, the politicians, the mortgage brokers, mortgage bankers, real estate salespeople etc. etc.
President Clinton said one of the reasons....he did not lay it at anyone's feet as the sole fault. He can actually take a bit of the blame himself there were few bills
with his signature that contributed but no one saw this coming to the degree it has come home to roost.


< Message edited by SilverMark -- 9/25/2008 11:04:02 AM >

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:04:41 AM   
dcnovice


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quote:

For anyone, like Nancy Pelosi and others to say that its all Bush's fault, shows they are either ignorant or just partisan. 


Has Nancy Pelosi said that it's all Bush's fault?

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:09:45 AM   
SilverMark


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Status: offline 		I cannot find a quote from Pelosi saying that at all?????

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:15:11 AM   
cyberdude611


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Status: offline 		Pelosi didnt say Bush was to blame... But she was asked if Congress shares any blame in the current financial crisis and her answer was a simple, "no."

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:19:46 AM   
Sanity


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quote:


House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.”

Pelosi (D-Calif.) ripped President Bush’s “mismanagement” of the economy and a lack of regulation that led to the current situation.


http://thehill.com/leading-the-news/pelosi-dems-bear-no-responsibility-for-economic-crisis-2008-09-16.html


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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:23:25 AM   
kittinSol


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Status: offline 		I'm curious about your psychology: do you actually believe the Democrats are to blame for the financial crisis? Or are you trying to convince yourself and others?

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:26:45 AM   
SilverMark


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Status: offline 		Posted: 09/16/08 04:14 PM [ET] ...interesting...prior to the current bail out of AIG....
John McCain said that this is a result of overregulation by the Democrats in Congress,” she added. “Either he doesn’t know what he's talking about or he’s misrepresenting the facts as he knows them. But it’s simply not true.” <----- Same article...Guess if we look hard enough might find anything we wish to make our point?

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:44:03 AM   
popeye1250


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Status: offline 		Has he said anything about getting us out of "NAFTA?"

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:48:40 AM   
bipolarber


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Status: offline 		Funny how republicans love to use the argument that "guns don't kill people, people kill people." Yet, if we were to apply that logic to this financial crisis... i.e. the government deregulated the industry, (giving them the gun) but that the banking industry went nuts, over-leverageing themselves (going on a shooting spree) ... suddenly, they want to cast blame on the gunsmith.

Yeah, guys, the government, going back at least as far as Reagan (who said government wasn't the solution, government was the problem) , were the ones who opened Pandora's Box. Yes, the blame could, and should, be shared by both sides of the asile. Although I feel it's still primarily the republican's fault, since they were in power for the last 8 years, and the last 15, via their majority in Congress, until two years ago. Plenty of people were waving red flags, trying to stop the impending train wreck, but no one did a damned thing! The mortgage brokerage firms just kept plugging away, and selling those packages of loans to larger institutions. (Like setting up dominoes...) Why? Because there was money in them thar poor folk, who didn't know, or fully understand,  the full terms of the loans they were being sold.

Of course, it might have helped, if those mortgage institutions actually had real information on how well the economy was doing. Bush and his cohorts were soft-pedaling the unemployment numbers, and the growth indexes, in order to make themselves look better in the polls.

So, bad information, a bull market on home sales, and an ever spiraling housing bubble, courtesy of the GOP's "deregulate everything!" ideology. As Bush said, (weeks before this crisis hit) "Wall Street got drunk!" Yet, he didn't do a damned thing about stemming the tide.

Yeah, Bill said that the dems had an opportunity to do the right thing. They didn't. But the reason they had that opportunity, the underlying reason things were turning to shit in the first place, is almost 100% GOP inspired.


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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 11:51:04 AM   
SilverMark


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Status: offline 		Unfortunately for those of your staunch view...NAFTA doesn't seem to be a hot button issue...maybe you need to raise a bit more hell pop?.....Like you need encouragment?...lol

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 12:33:46 PM   
Sanity


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She also went on to try to pin the blame on McCain...

Great point.


quote:

ORIGINAL: SilverMark

Posted: 09/16/08 04:14 PM [ET] ...interesting...prior to the current bail out of AIG....
John McCain said that this is a result of overregulation by the Democrats in Congress,” she added. “Either he doesn’t know what he's talking about or he’s misrepresenting the facts as he knows them. But it’s simply not true.” <----- Same article...Guess if we look hard enough might find anything we wish to make our point?


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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 1:14:31 PM   
kittinSol


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Status: offline 		John could show some backbone and endorse at least some of the blame: after all, whose president was in power all these years during which the economic disaster was brewing again?

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 2:03:02 PM   
cyberdude611


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quote:

ORIGINAL: kittinSol

I'm curious about your psychology: do you actually believe the Democrats are to blame for the financial crisis? Or are you trying to convince yourself and others?


Im trying to point out that it is idiotic to say that the reason the country has this problem is because of Republicans, when Democrats clearly had their hands in the cookie jar as well. The Obama campaign got hundreds of thousands of dollars from Fannie Mae and the media refuses to report that information.

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RE: Bill Clinton says Dems to blame for financial crisis - 9/25/2008 2:11:27 PM   
kittinSol


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quote:

ORIGINAL: cyberdude611

The Obama campaign got hundreds of thousands of dollars from Fannie Mae and the media refuses to report that information.


How did you find out about it? Presumably, from the *gasp!* media?

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