(11-06-2019, 04:47 PM)jagibelieve Wrote:

(11-06-2019, 10:24 AM)HURRICANE!!! Wrote: You are joking right?  He walked into a severe recession caused by the GW Bush regime.  If you didn't get rich during the Obama era then shame on you.  The Dow was down to 6500 under Bush and houses were priced at an all time low.   Sorry you missed out.

You do realize that it wasn't a President Bush policy that caused the housing bubble and the eventual decline in the market... right?

(11-06-2019, 01:49 PM)HURRICANE!!! Wrote: The Obama recovery took longer because of the drastic impact of the GW Bush era. There have never been so many foreclosures in the history of the US as their was resulting from the Bush impact.   Foreclosures during that time period were estimated at 10 million which was much more significant that anything since the Great Depression of the 1930s

Perhaps you should look up a few terms to figure out what exactly happened.  Subprime mortgage would be a first one.  Next one to study would be adjustable rate mortgage (ARM).  It coincides with the first term.  Home loans were easy to get through the 2000's, especially ARM's which offered attractive payments for the first few years.  Next look at Mortgage-Backed Security (MBS) considering the first two terms.  Finally look up Fannie Mae and Freddy Mac.  Also perhaps research The Community Reinvestment Act.

You're correct that the Community Reinvestment Act dates back to a Democratic Party President..
And so does Gramm-Leach-Bliley.
These both played important roles in the mortgage crisis.
However one passed Congress with mostly Democratic party votes, and the other one passed congress with mostly Republican party votes.
Odd how you only mentioned the one.


Odd how you neglected to mention the multiple opportunities that George W Bush had to pivot away from these types of policies by changing regulations or priorities, and how each time he pivoted towards short-term boosts to the homeownership rate at the expense of long term solvency.

I hope this partisan version of history you're teaching isn't fooling anyone else.

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