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Early Recognition of the Banking Crisis

April 7, 2009 by  

Bob Livingston

is an ultra-conservative American who has been writing a newsletter since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Luz

    It’s very clear that the Democrats had blocked the proposal of regulatory commission that is being proposed by mostly Republicans. Then Sen. Obama did not do anything about it , and when he run for presidency, he blame everything in the Bush Administration for what happened in order to win. Now Pres. Obama still blaming the Bush Administration, why doesn’t he blame his own party of what they did? If Obama has the guts he should stop the blame game and face the facts. He has to accept that democrats should be blame more of what happened to the economic crisis.

  • s c mailen

    Right on, Luz! It boggles the mind how politicians can say and do what THEY want. When it comes time to look in the mirror they just can’t find the spine to do it. The facts will come out (no matter how hard certain messianic politicians try to distract us). For me, the one FACT that needs to be appreciated is how dangerous career politicians are to America.
    These weasels will always protect each other. Is it any wonder that the American people are expected to endure it and PAY for the self-serving behavior of these power-mad vermin?

  • John R

    More deflection of economic mismanagement by the right wingers.

    Fannie and Freddie were a problem but they were not the engine for this crisis. The low interest rate policies of the Fed inflated the real estate bubble. The Credit Default Swaps and Derivatives that were created by republican legislation were the catalyst that accelerated the leveraging of the major US financial institutions, packaging and repacking financial instruments that were backed by bad mortgages. The 2004 legislation brought in by the republicans allowing banks to leverage their positions from 10 times to 30 times put the US financial markets into a complete crisis.

    This is 90% a Republican mess. Then to cap off this great performance the repulican Bush administration added almost 5 trillion dollars to the debt and ran a current account deficit of $500 billion a year driving down the US dollar and exporting the global asset inflation that has triggered this global financial mess.

    I say good for Obama. The medicine is bitter and the republicans are crying about how wrong he is which convinces me that even though this is going to take a long time to resolve, it is the right path.

    • texas

      John,
      I believe you should re-look at the facts that you have and take a look at the history of this nation, and you will see that the republicans did not create this problem all by themselves or the 90% that you stated. That the democrats created a lot of the bills and the regulations that put us into the mess we are in now. You must be a dem because all the can do is blame everyone but themselves for the problems! Also God !!!!!!!! Help us, if this nation has put up with this group of people who are in charge now, this country will not survive.
      Sincerely
      Texas.

  • John R

    So what about that scenario that I have presented is incorrect?

    The country will survive, it is a great country. How anyone can say that after eight years of Republican rule with almost six of them holding control of the house. That this is a Democratic triggered crisis is beyond partisanship – it is just blind. The next big republican disaster is the medicare issue, a 17 trillion dollar bill signed by Bush to guarantee the seniors vote that has no funding plan.

    Politics vs Economics – Bush chose politics everytime.

    The great thing about a democracy is that when those in power screw up the citizens can boot them out. The system works, the election of Obama was a clear statement by the people of this great country that the lies and mismanagement of the Bush era would not be tolerated. Good for America, good for democracy, the people have spoken. Be a patriot and work to make things better rather than stand on the sidelines whining and pointing fingers.

    Life is good, relax and enjoy it.

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