Thread: If you saw the Rick Perry "strong" ad

Originally Posted by BiscuitBoy

I was incorrect about Frank being appointed until 2007 that was my bad but senate and congress were controlled by dems in 2006. Not only that but they had the majority of governors as well.

Wrong again - people elected to Congress in 2006 take office in 2007.

and I don't like that this video tries to make republicans look like they aren't responsible for this but you can clearly see Barney Frank saying there is no problem and trying to cover up this mess in this video.

This video is a series of mined sound bytes - it's a typical tactic of someone who's trying to make things look different from reality.

The unfortunately, tactic of blaming the housing crisis on Fannie and Freddie, while convenient for Republican appologists, is counter to the opinions of most economists as well as the Financial Crisis Inquiry Commission.
Financial Crisis Inquiry Commission - Wikipedia, the free encyclopedia

They found that the crisis was caused by:

Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; Key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels.

The sentries were not at their posts, in no small part due to the widely accepted faith in the self- correcting nature of the markets and the ability of financial institutions to effectively police themselves. More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have helped avoid catastrophe. This approach had opened up gaps in oversight of critical areas with trillions of dollars at risk, such as the shadow banking system and over-the-counter derivatives markets. In addition, the government permitted financial firms to pick their preferred regulators in what became a race to the weakest supervisor.

The fact is, the Republicans were in power in 2004. Not just in both houses of Congress, but in the White house too. They had been in power for the previous two years too, and would be in power for the next two. Except for a two-year stint between 2001 and 2003, they had controlled both houses of Congress since 1995.

So are you saying that Frank and his Democratic bullies were able to force these bad economic policies onto these poor, fiscally responsible Republicans? No, of course not. You know as well as I do that, in over a decade of near absolute congressional control and four years of total control of two branches of the government, the Republicans had plenty of time shape our economic policies to their liking, and they did.

Originally Posted by BiscuitBoy

It is not republican policy that caused the housing crisis. You are naive if you think that. If you think for one minute there is any difference between republican and democrat policies you nuts. They are all to blame and they are all in bed with the same lobbyist.

Oh, this old tactic.

But for someone to think Barney Frank is a standup guy because he has a (D) next to his name and has no involvement is just wrong. That video was saying vagina loving men caused the crisis and I was trying to point out that at least one cock loving man is guilty of it too.

He was on that committee for several years before he became chairman as well. I really have to wonder of some of you are brainwashed, he has no blame really?

Democrats are the ones keeping us in the wars now (and started a new one in Libya) and they are printing money from the Fed like they are McDonald monopoly pieces.

Well, our involvement in Libya is hardly at the same economic level as our involvement in Iraq, which the President is ending. But I thought that we were talking about the housing crisis here?

Let me make this clear I'm a libertarian and I hate both parties I like Ron Paul.

Ah, that explains a lot.