« Back to story "Another Record!... Obama's Market Decline Worst For New Prez in 90 Years"

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Posted by: Wolfie2007 9 months, 3 weeks ago

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Wolfie20079 months, 3 weeks ago

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You really have to be totally ignorant to believe the a President's policies don't influence the market.

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  david_nwpa9 months, 3 weeks ago
  
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  As others have claimed in related threads, let's be real here. This mess began when Paulson was on watch. He bungled the TARP bail out funds distribution. Both Bush and Paulson insisted that "the fundamentals of the economy are strong." Even their heir apparent in September 2008 said clearly, "The fundamentals of the economy are strong!" Suddenly, John McCain suspended his campaign and dithered his way back to Washington.
  
  Yes, Obama's team has had a slow start getting the Treasury Department positions staffed. That said, how much stalling in the Senate has been the responsibility of the R's? Most of it.
  
  Blame Reid and Pelosi all you like. It does not make the economic crisis any better.
  
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      bubba29 months, 3 weeks ago
      
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      You have it SO backwards. All that cr*p fed to you by Rush is totally wrong. Not surprising ....
      
      http://www.factcheck.org/elections-2008/who_caused...
      
      It's true that key Democrats opposed the Federal Housing Enterprise Regulatory Reform Act of 2005, which would have established a single, independent regulatory body with jurisdiction over Fannie and Freddie – a move that the Government Accountability Office had recommended in a 2004 report.
      
      But saying that Democrats killed the 2005 bill "while Mr. Obama was notably silent" oversimplifies things considerably. The bill made it out of committee in the Senate but was never brought up for consideration. At that time, Republicans had a majority in the Senate and controlled the agenda. Democrats never got the chance to vote against it or to mount a filibuster to block it.
      
      By the time McCain signed on to the legislation, it was too late to prevent the crisis anyway. McCain added his name on May 25, 2006, when the housing bubble had already nearly peaked. Standard & Poor's Case-Schiller Home Price Index, which measures residential housing prices in 20 metropolitan regions and then constructs a composite index for the entire United States, shows that housing prices began falling in July 2006, barely two months later.
      
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