Bush is the worst ever!

jlew24asu

anotherclone wrote:

I work in the mortgage industry.

George Bush DID push for lenders to get more creative in their financing for homeownership. He was the one that initiated zero downpayment FHA (government) loans and loan programs whereby sellers could "gift" money to buyers for their downpayment and closing costs.

http://www.ameridream.org/About/PressReleases/2004/AmeriDream%20Responds%20to%20FHA%20Zer

and

http://www.washingtonpost.com/wp-dyn/content/article/2006/01/20/AR2006012000803.html

Sellers and buyers would increase the home sale price to cover the buyer closing costs, thereby inflating the home value. Then the seller would credit the buyer that money for their closing costs. The seller gets the money they want from the sale and the buyer gets into the home with no money down or in some cases, even cash back. This was all legal and a common occurrance. I'm not even talking about these so-called "sub prime" loans.

Now a majority of those people who couldn't save a couple thousand dollars for a down payment to begin with, are suffering because they can't afford their payments on their over valued houses. They can't sell those homes either because to do so would be a "loss" to them. So, what do they do? walk away and let the lender foreclose.

I must point out that I'm very glad you posted this. while the banks and asshole lending sharks deserve most of the blame (they knew more then bush of the possible downfalls) Bush should have known the consequences.

same with Iraq....


both reasons why he very well may go down as one of the worst in history.

sponger

This country has been in expensive, useless wars before. Not to mention, Bush didn't single-handedly send the troops to the desert. He had the help of many influential politicians including Hillary Clinton who has been quoted as spewing the same brainwashing rhetoric that Bush subjected the public to before the war.

The economy has been in worse shape...even in recent memory. Reagan, for example, gave us the crash in 1987 with his massive deficit spending and lack of control over junk investment schemes on wall street. This led to one of the worst housing market slumps in US history. In fact, the "Rich Dad Poor Dad" author actually made his millions by investing in rock bottom priced houses during that slump and later reselling them as the market recovered.

Yes, the healthcare system needs major fixing, but Bush has little to do with it. In fact, the HMO system was created under the Carter administration, and is a textbook example of what's wrong with the healthcare system in the US today.

I will acknowledge that the No Child Left Behind act did more harm than good, but the US school system has been in shambles for decades. In fact, the No Child Left Behind act wouldn't have been created if the public school system wasn't already totally screwed up to begin with.

Lastly, it's just plain nonsensical to hold Bush accountable for the lending crisis because of his move to grant the FHA power to create no down payment loans.

No down payment loans have been existence in private lending since long before Bush came to office, and they too have their inherent risks. Also, neither of the links posted earlier mentioned anything about Bush being responsible for subprime loans, and we all know that subprime loans are the biggest contributor to the crunch.

And for those who do not already know, subprime loans became popular because of their role in derivatives trading, and derivatives trading is a method of investment that is well-known to be extremely high risk. Not to mention, derivatives trading began under the Clinton administration.

Any economist will tell you that Alan Greenspan and his obsessive slashing of interest rates to artificially stimulate investment is the person who should be held accountable for the problems the economy will be facing very soon.

Look, it's just not common sense to say that Bush is the worst president ever, yet I've noticed that so many people are given to saying just that. I think there are two major reasons for this:

1. Eddie Vedder publicly expresses his disdain for Bush. So, the result is people wanting to emulate EV.

2. The internet. The internet has made it easy for anyone with a computer and a connection to create an opinion and make it look legitimate.

PJ_Lukin

sponger wrote:

This country has been in expensive, useless wars before. Not to mention, Bush didn't single-handedly send the troops to the desert. He had the help of many influential politicians including Hillary Clinton who has been quoted as spewing the same brainwashing rhetoric that Bush subjected the public to before the war.

The economy has been in worse shape...even in recent memory. Reagan, for example, gave us the crash in 1987 with his massive deficit spending and lack of control over junk investment schemes on wall street. This led to one of the worst housing market slumps in US history. In fact, the "Rich Dad Poor Dad" author actually made his millions by investing in rock bottom priced houses during that slump and later reselling them as the market recovered.

Yes, the healthcare system needs major fixing, but Bush has little to do with it. In fact, the HMO system was created under the Carter administration, and is a textbook example of what's wrong with the healthcare system in the US today.

I will acknowledge that the No Child Left Behind act did more harm than good, but the US school system has been in shambles for decades. In fact, the No Child Left Behind act wouldn't have been created if the public school system wasn't already totally screwed up to begin with.

Lastly, it's just plain nonsensical to hold Bush accountable for the lending crisis because of his move to grant the FHA power to create no down payment loans.

No down payment loans have been existence in private lending since long before Bush came to office, and they too have their inherent risks. Also, neither of the links posted earlier mentioned anything about Bush being responsible for subprime loans, and we all know that subprime loans are the biggest contributor to the crunch.

And for those who do not already know, subprime loans became popular because of their role in derivatives trading, and derivatives trading is a method of investment that is well-known to be extremely high risk. Not to mention, derivatives trading began under the Clinton administration.

Any economist will tell you that Alan Greenspan and his obsessive slashing of interest rates to artificially stimulate investment is the person who should be held accountable for the problems the economy will be facing very soon.

Look, it's just not common sense to say that Bush is the worst president ever, yet I've noticed that so many people are given to saying just that. I think there are two major reasons for this:

1. Eddie Vedder publicly expresses his disdain for Bush. So, the result is people wanting to emulate EV.

2. The internet. The internet has made it easy for anyone with a computer and a connection to create an opinion and make it look legitimate.

I'll accept your opinion at face value up to one point. I am older than Ed and have seen quite a bit myself. I have an extensive background in politics. I use multiple sources of information from which to base my opinions. I can think of very few people who would be worth emulation, Ed is one of them. However, I prefer to use my own thoughts to base my opinion.

angryyoungman

PJ_Lukin wrote:

Civil rights eroded, War in Iraq, the Economy, health care in crisis, Education in crisis.

What the fuck has this guy done right?

No one is even close to this douche bag, he is the worst ever.

in other news, the sun came up today