Post by Hat In Ring on Jun 18, 2011 7:59:55 GMT -5
I just saw a show on PBS about this financial collapse . Our founding fathers definitely could not foresee this mess we are in now.
The PBS show blamed this mess on Clinton. In the Clinton years a financial company started selling derivatives. It's like the Bernie Madoff experiance where this financial product pays off 20% to 40% and everyone had to get into it. The derivative market in not regulated and when this company started to collapse Allan Greenspan and his army of congressional idiots told all the companies involved to pitch in 10 or 15 million each to buy up all the toxic assets. This happened right before the Bush years and Bush experianced a small recession when he took office because of this.
The kicker is congress and Clinton got lobbied "Not" to install regulations into this financial market and the lobbyists won. The regulations were never install.
After Bush took office and that little recession went away everything was fine and the derivatives market was booming. The derivatives are all toxic assets that built up into a 5 trillion dollar market. Then Fanny Mae and Freddie Mac got into this along with their own toxic financial dealings. The big investments companies and AIG got involved with selling toxic paper and it all collapsed.
This mess started in the Clinton years and Clinton had a chance to stop it when the company that invented these derivatives collapsed and all the suffering financial institutions bought up all the toxic assets. Congress in the Clinton years would not install regulations because of the lobbying and Clinton would not push to have the regulations installed.
Congress during the Bush years still would not install the regulations and Bush was pushing to have these regulations installed on the derivatives market.
This mess wasn't President Bushes fault. This mess is the fault of some republican congressmen, most democratic congressmen and the biggest one at fault is "BILL CLINTON". I can't believe that Clinton holds a 50% approval rating. I guess the democrats have become so sick they can't see reality.
Hope this go round in 2012 brings an end to the "Mutt" brains.
It's just like now with Obama. If a bill passes in both houses of congress and Obama signs it then it becomes Obamas fault. If a bill passes both houses of congress and Obama vetos the bill, congress overrides the veto and passes it anyway then it's the fault of congress.
My point is, Clinton never pitched a bitch about congress not installing regulations on the derivatives market. He just relied on Allan Greenspan and the slug financial cronies. Clinton had bums for financial advisors while wall street gurus screwed people out of massive amounts of money. Clinton not pushing congress to install the regulations after the LCTM meltdown is the same as Clinton signing a bad bill just in reverse.
Watch the video at this link and visit this link to see the timeline of the economic disaster over a 15 year period: www.pbs.org/wgbh/pages/frontline/warning/cron/
The PBS show blamed this mess on Clinton. In the Clinton years a financial company started selling derivatives. It's like the Bernie Madoff experiance where this financial product pays off 20% to 40% and everyone had to get into it. The derivative market in not regulated and when this company started to collapse Allan Greenspan and his army of congressional idiots told all the companies involved to pitch in 10 or 15 million each to buy up all the toxic assets. This happened right before the Bush years and Bush experianced a small recession when he took office because of this.
The kicker is congress and Clinton got lobbied "Not" to install regulations into this financial market and the lobbyists won. The regulations were never install.
After Bush took office and that little recession went away everything was fine and the derivatives market was booming. The derivatives are all toxic assets that built up into a 5 trillion dollar market. Then Fanny Mae and Freddie Mac got into this along with their own toxic financial dealings. The big investments companies and AIG got involved with selling toxic paper and it all collapsed.
This mess started in the Clinton years and Clinton had a chance to stop it when the company that invented these derivatives collapsed and all the suffering financial institutions bought up all the toxic assets. Congress in the Clinton years would not install regulations because of the lobbying and Clinton would not push to have the regulations installed.
Congress during the Bush years still would not install the regulations and Bush was pushing to have these regulations installed on the derivatives market.
This mess wasn't President Bushes fault. This mess is the fault of some republican congressmen, most democratic congressmen and the biggest one at fault is "BILL CLINTON". I can't believe that Clinton holds a 50% approval rating. I guess the democrats have become so sick they can't see reality.
Hope this go round in 2012 brings an end to the "Mutt" brains.
It's just like now with Obama. If a bill passes in both houses of congress and Obama signs it then it becomes Obamas fault. If a bill passes both houses of congress and Obama vetos the bill, congress overrides the veto and passes it anyway then it's the fault of congress.
My point is, Clinton never pitched a bitch about congress not installing regulations on the derivatives market. He just relied on Allan Greenspan and the slug financial cronies. Clinton had bums for financial advisors while wall street gurus screwed people out of massive amounts of money. Clinton not pushing congress to install the regulations after the LCTM meltdown is the same as Clinton signing a bad bill just in reverse.
Watch the video at this link and visit this link to see the timeline of the economic disaster over a 15 year period: www.pbs.org/wgbh/pages/frontline/warning/cron/
