RE: Clinton believes planting seeds of bad economy isn't his fault (Full Version)

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MasterShake69 -> RE: Clinton believes planting seeds of bad economy isn't his fault (2/18/2009 8:00:18 AM)

remember the recession hit in early 2001 before any bush economic policy could be put into effect.  Then a few months later the economy totally shutdown after the 9-11 attacks.  That's when Bush told people to go shopping and get back to there normal life.  The left has since attacked what bush said that day.  Would they rather people stay home and fearful?







Coldwarrior57 -> RE: Clinton believes planting seeds of bad economy isn't his fault (2/18/2009 8:22:52 AM)

quote:

ORIGINAL: MasterShake69





http://news.yahoo.com/s/time/20090216/us_time/08599187977400

Clinton Says Don't Blame Him for the Economic Crisis Mon Feb 16, 4:50 pm ET
Given the sweep and severity of today's global economic crisis, it would seem there's plenty of blame to go around. But Bill Clinton doesn't think any of it should fall on his shoulders. On Monday morning's Today Show, Ann Curry's interview with the former president - recorded over the weekend outside a Clinton Global Initiative event in Texas - addressed Clinton's inclusion on TIME's list of the "25 People to Blame" for the global economic collapse. "Oh no," he responded, "My question to them is: Do any of them seriously believe if I had been president, and my economic team had been in place the last eight years, that this would be happening today? I think they know the answer to that: No." (See TIME's list of the 25 people to blame for the collapse) The magazine's story, which apportioned blame widely between such figures as Countrywide co-founder Angelo Mozilo, former Federal Reserve Chairman Alan Greenspan, Lehman Brothers CEO Dick Fuld and President George W. Bush, zeroed in on two specific economic policy decisions made during the Clinton administration. Clinton ushered out the Glass-Steagall Act, which for decades had separated commercial and investment banking, and signed the Commodity Futures Modernization Act - which exempted all derivatives, including the now-notorious credit-default swaps, from federal regulation. His administration also loosened housing rules, which added pressure on banks to lend in low-income neighborhoods. "None of it was an endorsement of permissive lending and risk-taking," the magazine concluded. "But if you believe deregulation is to blame for our troubles, then Clinton earned a share too." In a separate interview this past weekend with CNN, Clinton did allow that his administration could have done more to "set in motion some more formal regulation of the derivatives market," but he also vehemently denied that the repeal of Glass-Steagall or his administration's housing policies helped cause the financial crisis .

In all fairness to the truth, the press really sold the US on this notion of doing away with glass steagell.
I remember hearing on the news that, this was going to solve the problems in the inner city , allow lower income people  to have access to loans. Sounded good look where it got us.
the problem can rest on the shoulders of congress, clintoon and the baboon press.
That is where this entire problem started. Old staying. The road to hell is paved with good intentions.




rulemylife -> RE: Clinton believes planting seeds of bad economy isn't his fault (2/18/2009 9:06:16 AM)

quote:

ORIGINAL: MasterShake69

remember the recession hit in early 2001 before any bush economic policy could be put into effect.  Then a few months later the economy totally shutdown after the 9-11 attacks.  That's when Bush told people to go shopping and get back to there normal life.  The left has since attacked what bush said that day.  Would they rather people stay home and fearful?


I always finds this hilarious.

Bush never had time to do anything.  I guess the poor guy was just a little slow, in more ways than one.

He never had the time to see the terrorist threat and the danger posed by Bin-Laden.  Even though the Clinton administration had targeted Bin-Laden as a primary threat.  Even though he received a brief entitled "Bin-Laden determined to strike in U.S.".  Even though he came into office on the heels of the Cole attack.

He was only in office 8 1/2 months though, so how could he be expected to have prevented 9/11?

The recession hit in the second quarter of 2001. 

How could he possibly have seen that coming?  I mean, after all, he was only in office three months.

He just had absolutely no time to develop an economic policy.  There was brush to clear at the ranch, fishing off Kennebunkport, and a vigorous exercise routine of jogging and bicycle riding.  There are only so many hours in a day, you know?

Then again, he was also telling us the economy and the financial system "was sound"  almost up until the day he proposed the banks' bailout.

But give the guy a break, he only had almost two terms in office. 

How could he possibly have been expected to foresee the second greatest economic crisis in the history of the country in just 7 1/2 years?








MasterShake69 -> RE: Clinton believes planting seeds of bad economy isn't his fault (2/18/2009 10:49:26 AM)

Bill never really took al queda seriously.  Now we wonder what documents sandy took and destroyed.  SInce now its all justa mis quote by bill clinton even though hes on tape talking abou the offer in 2002 during a visit to long island NY.


http://archive.newsmax.com/archives/ic/2006/9/10/181819.shtml?s=ic

During a February 2002 speech, Clinton explained that he turned down an offer from Sudan for bin Laden's extradition to the U.S., saying, "At the time, 1996, he had committed no crime against America, so I did not bring him here because we had no basis on which to hold him." But that wasn't exactly true. By 1996, the 9/11 mastermind had already been named as an unindicted co-conspirator in the 1993 World Trade Center bombing by prosecutors in New York. 9/11 Commissioner former Sen. Bob Kerrey said that Clinton told the Commission during his private interview that reports of his comments to the LIA were based on "a misquote." During his interview with the 9/11 Commission, Clinton was accompanied by longtime aide and former White House counsel Bruce Lindsey, along with former national security advisor Sandy Berger, who insisted in sworn testimony before Congress in Sept. 2002 that there was never any offer from Sudanese officials to turn over bin Laden to the U.S.



Also heres an iteresting tidbit about More bad CIA intel during the clinton administration....nobody was lying back then right ;)
http://www.mediamonitors.net/espac1.html5- The Times, London, 22 September 1998; The New York Times, 21 and 23 September, 1998.

The Clinton Administration's Withdrawal of Over 100 "Fabricated" Reports on Sudan and "Terrorism"
 
Not only were American intelligence agencies unable to accurately analyze events and trends in Sudan, there is ample evidence that they actually accepted as facts claims about Sudanese involvement in terrorism which were subsequently revealed to have been fabricated. In September 1998, in the wake of the al-Shifa fiasco, both the 'New York Times' and the London 'Times' reported that the Central Intelligence Agency had previously secretly had to withdraw over one hundred of its reports alleging Sudanese involvement in terrorism. The CIA had realized that the reports in question had been fabricated. The London 'Times' concluded that this:

"is no great surprise to those who have watched similar CIA operations in Africa where American intelligence 'is often seen as an oxymoron.' " (5)



quote:

ORIGINAL: rulemylife

quote:

ORIGINAL: MasterShake69

remember the recession hit in early 2001 before any bush economic policy could be put into effect.  Then a few months later the economy totally shutdown after the 9-11 attacks.  That's when Bush told people to go shopping and get back to there normal life.  The left has since attacked what bush said that day.  Would they rather people stay home and fearful?


I always finds this hilarious.

Bush never had time to do anything.  I guess the poor guy was just a little slow, in more ways than one.

He never had the time to see the terrorist threat and the danger posed by Bin-Laden.  Even though the Clinton administration had targeted Bin-Laden as a primary threat.  Even though he received a brief entitled "Bin-Laden determined to strike in U.S.".  Even though he came into office on the heels of the Cole attack.

He was only in office 8 1/2 months though, so how could he be expected to have prevented 9/11?

The recession hit in the second quarter of 2001. 

How could he possibly have seen that coming?  I mean, after all, he was only in office three months.

He just had absolutely no time to develop an economic policy.  There was brush to clear at the ranch, fishing off Kennebunkport, and a vigorous exercise routine of jogging and bicycle riding.  There are only so many hours in a day, you know?

Then again, he was also telling us the economy and the financial system "was sound"  almost up until the day he proposed the banks' bailout.

But give the guy a break, he only had almost two terms in office. 

How could he possibly have been expected to foresee the second greatest economic crisis in the history of the country in just 7 1/2 years?









MasterShake69 -> RE: Clinton believes planting seeds of bad economy isn't his fault (2/18/2009 11:02:50 AM)

also bills own words :)
http://archive.newsmax.com/audio/BILLVH.mp3





Hippiekinkster -> RE: Clinton believes planting seeds of bad economy isn't his fault (2/18/2009 11:32:27 PM)

quote:

ORIGINAL: MasterShake69

ok here it is

Treasury Secretary John Snow released this chart today, showing the growth in federal tax revenues since the 2003 Tax Act.
http://taxprof.typepad.com/.shared/image.html?/photos/uncategorized/revenue20growth.jpg

Now the left had no credibility regarding spending because in a few weeks in office they spent more then 7 years of Bush's 2 wars.




quote:

ORIGINAL: MasterShake69

i believe the 2005 and 2006 numbers shows an increase in revenues.
Ill go check in a bit :)

quote:

ORIGINAL: Hippiekinkster

MasterShake: "actually the tax cuts produced more revenues into the economy...just the costs of the war wiped it out."

Prove it. 



You haven't proven anything. You claimed that tax cuts resulted in increased revenues.
Correlation is not Causation.

The spending for the illegal invasion of Iraq started right around the time your graph takes an upward turn. Borrowing pumped billions into the economy, which in turn increased revenues. I would bet, if you took a close look, corporate tax receipts led the way. I would bet that individual returns remained relatively level; with the exception of the top 1%, who profited enormously from the war.




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