Quote:
Originally Posted by Ryzorian
The world hates us because we are us, hate to burst your bubble on that. Powerful nations are hated because they are powerful, it's the nature of the game.
The economic collapse was caused by stupid loans being given to people who never should have had them. It was done through mandatory law put in place By Chris Dodd and Barny Frank and signed in 1999 by Clinton. Bush warned about that situation in 2002, 2003, 2004, 2006, and 2007. Each time it was rebuffed by Frank and Dodd who claimed it was just "republicans" trying to wage war on poor people. Bush's main fault was not stopping that crap before it got out of hand.
This situation is going to get much worse with how things are now. The great depression was compounded for years, by government getting in the way. This will be no different.
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Well thank goodness, at least 1 other person besides me on these boards knows the real reason for the economic collapse. GTJ, if you knew about this, why spout the lies about Bush spurring it on? He warned about it, tried to stop it, but didn't try hard enough IMO.
By the way Ryzorian, as I'm sure you know, Frank, Dodd, and many others collected huge campaign donations from Fannie and Freddy for many years. But in the space of less than 2 years, a certain young Senator from Illinois surpassed all recipients total amounts except Chris Dodd. That Senator hit them extra hard, threatening lawsuits for racial discrimination if they wouldn't lend to minorities whose credit ratings and background suggested they were unlikely to ever be able to repay the loan. But the Senator assured them that the US govt would bail them out if/when the loans were defaulted on...