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How the Democrats Created This Financial Crisis


US Politics & Gov't  (tags: government, democrats, housing, financial crisis, community reinvestment act, Jimmy Carter )

Donn
- 3923 days ago - tsfiles.wordpress.com
It begins right here: The Community Reinvestment Act of 1977, which was passed by a Democrat-led Congress. Who signed this bill? President James Earl Carter (D).



   

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Comments

Donn M (56)
Sunday September 28, 2008, 2:22 am
The other side of the story.
 

Blue B (855)
Sunday September 28, 2008, 3:50 am
Politics in the Zeros: Spread the meme. Republicans are the party that wrecked America. John McCain’s long history with bank failures and financial scandals makes him uniquely ‘qualified’ to speak to the current crisis.

The next time a Republican friend says McCain is ready to Regulate the financial world... Refer them to ProgressiveAccounting.org
for a really long list of all the DEREGULATION McCain has supported over the past 26 years to get us into this mess.

Then suggest a vote for Obama.
 

Blue B (855)
Sunday September 28, 2008, 3:51 am
John McCain: Ha ha, google “bank collapse McCain” and you will find some fun results that old Walnuts had hoped were forgotten forever, because who remembers boring things like the Savings and Loan apocalypse or the Keating Five? Also, one of his sons just fled the board of a failed bank in Nevada!

Phil Gramm: Hateful old banking industry Texan crook was/is John McCain’s Economy Czar. He’s the one who called America a “nation of whiners” for being sad because of the New Depression. He also sponsored the deregulation that created the financial collapse. Gramm is also a vice-chairman at UBS, which is about to collapse, too.

"Phil Gramm? Wait, what did he do wrong?" Former Senator Phil Graham-- or as he was also known Senator Enron-- did so much wrong it boggles the mind. He pushed through the repeal of Glass-Steagall (banking regulations in place from 1932-1999). He pushed through energy deregulation, and an end to the prevention of oil speculation (which lead to oil speculation and Enron coming into CA and robbing us blind like Bonnie & Clyde). When he left the Senate, he went to work for the United Bank of Scotland as a lobbyist-- but before he left the Senate, he pushed AGAINST banking disclosure requirements that would have made it easier for us to track the money that funds terrorists against our Country.... what did Phil Graham do wrong? The better question since Phil Graham did SO MUCH wrong, is what did he not do wrong, if anything?
 

Sandy K (1)
Monday October 13, 2008, 7:49 pm
Please do your homework before posting lies! McCain was “in the middle of” the Keating Five case in the sense that he was “exonerated."

The Senate Ethics Committee lawyer, Robert Bennett (a Democrat) who investigated McCain, was a guest on “Hannity and Colmes” in February, 2008.

He stated:

“First, I should tell your listeners I’m a registered Democrat, so I’m not on (McCain’s) side of a lot of issues. But I investigated John McCain for a year and a half, at least, when I was special counsel to the Senate Ethics Committee in the Keating Five. ... And if there is one thing I am absolutely confident of, it is John McCain is an honest man. I recommended to the Senate Ethics Committee that he be cut out of the case, that there was no evidence against him.”

But they blocked it because, even though there was no evidence against him, he was the LONE Republican!

Point-of-Fact: Four of the Five United States Senators, were Democrats...after the extensive investigation, guess who was found guilty?…

Alan Cranston (D-CA) [Guilty]

Dennis DeConcini (D-AZ) [Guilty]

Donald W. Riegle (D-MI) [Guilty]

John Glenn (D-OH) [NOT Guilty]

and John McCain (R-AZ) [NOT Guilty]

 
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