Email Your Senators Re:Economic Stimulus Bill

[slotplayer]

most of these posts are ideological talking points take from whatever side you lean on and whatever cable news channel you're watching.

Although I'm gulity of watching fox news and cnn I take what they say
say with a grain of salt. fox is notorious at using psychology to convince its' viewers. cnn for most part leans left but seem to provide some actual facts.

and said only 36,000 jobs were lost and that is a good thing.

Although it seems odd to say it is a good thing, that is a positive sign, considering we were losing 700k+ jobs a month. jobs are a lagging indicator and a true barometer of how the economy is doing overall. Although technically the recession is over (a recession is defined as 2 consecutive quarters of negative GDP.) we don't feel it until we see jobs come back.

That's like saying Smith & Wesson is the root of all murder.

The problem began during Clinton's term when mortgage lenders ran out of money to lend due to reserve requirements. Lehman Bros and others devised the securitization of mortgages as a way for lenders to write more loans (and get more origination fees).

Clinton caused the bubble. Phil Gramm just helped give banks enough rope to hang themselves.

this explains those to blame
xhttp://www.ickypeople.com/2008/04/bill-clinton-major-part-in-subprime.html

notice our friend there as in the Gramm-Leach-Bliley Act
Leach the guy that supported the 2006 UIGEA and even years before that.
xhttp://www.tax-news.com/news/Jim_Leach_Reintroduces_AntiGambling_Bill_In_Congress_____10507.html

 

[bryand]

this explains those to blame
xhttp://www.ickypeople.com/2008/04/bill-clinton-major-part-in-subprime.html

notice our friend there as in the Gramm-Leach-Bliley Act
Leach the guy that supported the 2006 UIGEA and even years before that.
xhttp://www.tax-news.com/news/Jim_Leach_Reintroduces_AntiGambling_Bill_In_Congress_____10507.html

Ok, let's look at this a different way. No ideology here. What if Gramm-Leach-Bliley Act of 1999 never happened? (a) Financial services firms would still have underwritten MBS's, (b) Freddie and Fannie would still have gone bankrupt, (c) AIG still would have issued credit default swaps insuring the bonds, and most importantly, (d) the US housing market would still have tanked.