Forum Post: Pls take the.time to thank President Obama for passing the wall st reform commonly known as dodd/frank bill
Posted 13 years ago on Oct. 18, 2011, 3:38 p.m. EST by Obama2012
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It will end wall st wreckless behavior and will make the fat cat on wall st pay for their crimes against the middle class. President Obama, we love u
Republicans were in control from 2000-2006 before the Democrats took over congress in 2007. In 2006, the final year under President Bush and a Republican Congress, the unemployment rate was 4.6%. Today, under Obama and a Democrat congress, the unemployment rate is 8.9% (according to the Federal Government - but 16% according to Gallup). Under Obama & the Democrats, poverty has reached its highest level since 1959. The numbers don't lie. The failed economic policies of Democrats have been destroying lives, wrecking our economy & shattering the American dream since the Democrats took over congress in 2007. The before & after statistics prove it.
A brief history lesson: 1977: Jimmy Carter (D) signs the Community Reinvestment Act, guaranteeing homes loans to low-income families. 1999: Bill Clinton (D) puts the CRA on steroids by pushing Fannie Mae & Freddie Mac (F&F) to increase the number of sub-prime loans (owning a home is now a 'right'.). 1999 (September): New York Times publishes an article, 'Fannie Mae Eases Credit To Aid Mortgage Lending', which warned of the coming crisis due to lax lending policies of the Clinton (D) administration. 2003: White House calls Fannie and Freddie a "systemic risk". The Bush (R) administration pushes Congress to enact new regulations. 2003: Barney Frank (D) says F&F are "not in a crisis" and bashes Republicans for crying wolf and calls F&F "Financially Sound" Democrats block Republican sponsored regulation legislation. 2005: Fed Reserve Chairman Alan Greenspan voices warning over F&F accounting "We are placing the total financial system of the future at a substantial risk" 2005: Sen Charles Schumer (D) says "I think F & F over the years have done an incredibly good job and are an intrinsic part of making America the best-housed people in the world.". 2006: John McCain (R) again calls for reform of the regulatory structure that governs F&F. 2006: Democrats again block reform legislation. 2008: Housing market collapses: Democrats blame the Republicans.
Obviously the Republicans aren't free of guilt concerning the cause of this crisis because they didn't try hard enough to prevent it and in some cases allowed it to happen (one of the reasons conservatives and independents disliked Bush by the way and one of the reasons that many of those votes went to Obama as a 'protest' against Bush's liberal tendencies). But as can plainly be seen the Democrats hold the lion's share of blame for the economic melt down we're currently enjoying.
How can it be the 'fault' of the Republicans when the democrats are the ones that caused the current recession/depression and have been in complete control of the purse strings of the country from 2007 - 2011? Only in the mind of the socialist propaganda machine can it be 'Bush's fault' when 90% of the blame rests squarely on the shoulders of the democrat party.
Seems like it's CLEARLY the democrats that are the ones doing this to us...and to a WAY lesser degree, the Republicans. Maybe Obozo misspoke and he actually meant the democrats want to make the U.S. a third world nation
Help fight the right wing by electing barack obama
$14,000,000,000,000 (fourteen million million) plus $1,600,000,000,000 added each year. We currently can not pay the interest on this money with our tax revenue. Taking all of the money, not taxing all of the money, of those making over $250,000 per year does not fill the gap. The clear implication, taxes do not do the trick so "taxing the rich" is nothing but a Democratic buzz word to incite support. We must stop spending and that means some are going to suffer, some. If we do not control this insanity, we all will suffer, ALL. Are you aware that there are hundreds, if not thousands, of wealthy Americans making contingency plans to leave America if this thing blows up? No? It is true. Are you aware that millions of Americans are making plans to unite for mutual protection if this thing blows up? No? Well, it is true also. On the verge of collapse and the damned Democrats are still name calling, finger pointing, twisting words, lying and any thing else they can do to further a failing ideology. No? Read:
Should I also thank him for throwing Elizabeth Warren under the bus?
Look, I do appreciate the parts of Dodd-Frank that survive. I'm glad we've got even a too-soft version of the CFPB.
But now how about we repeal Gramm-Leach-Bliley? I'll thank him most heartfelt + sincere, support, donations + all, if he makes a move on that one.
President Obama is dedicated to strengthing does-frank. With your help, he will. Hope and change is coming
Good, lets see. Dodd-Frank matters. The CFPB matters a lot too. But what've you got to say about what he did to Elizabeth Warren?