Fallacy That Clinton Was A Good President

[FaninAma]

NAFTA and WTO pushed by Clinton: The US' manufacturing base gets crushed.

Secretary of Treasury under Clinton, Rubin, pushes strong dollar policy to increase foreign investment in US equity markets: Again US manufacturing base gets crushed.

Clinton administration pushes the deregulation of Wall Street including doing away with Glass-Steagall. Results of that come home to roost in 2008.

Clinton administration pushes for lowering lending standards in the home mortgage industry: another catastrophe that hits the country after he left office.

Clinton was all about freeing up the psychos on Wall Street to rape, plunder and pillage. He did have a lot of help from the Republican party but lets not pretend he was a great President when it came to the economy. He simply paved the way for Wall Street excesses that had a lot of short term benefit and long term pain.

[Tulsa_Fireman]

[bestbillclintonvoice]Uhhhh, but I really like poontang, man.[/bestbillclintonvoive]

[SoonerorLater]

Exactly. You had the backdrop of one of the largest technical / social innovations in history as well as the biggest stock market bubble of all time. Money was rolling in everywhere. A snake-oil salesman's dream. Government was raking in taxes from all the cap gains. Money was being invested the flimsiest start-up companies. Employees receiving huge stock bonuses. Just one big party. Now we know the truth it was all smoke and mirrors. All we have now is one big financial hangover.

[RUSH LIMBAUGH is my clone!]

"Clinton administration pushes for lowering lending standards in the home mortgage industry: another catastrophe that hits the country after he left office."-FaninAma

Carter started this crap, but Clinton spurred it on. Clinton also tried to jam in Hillrycare. That horrific scare resulted, thankfully, in major victories in both house and senate for republicans, who actually behaved conservatively, keeping Clinton in check, and helping the US to economic well being, til W started doing some socialist crap later on.

[Midtowner]

The untethering of Wall Street was very much a bipartisan screwup.

[diverdog]

The untethering of Wall Street was very much a bipartisan screwup.

yep. Gramm, Bliley, Leach and Greenspan. Not a Democrat in the lot. They could not get a floor vote on the bill and they buried in an omnibus bill to get it passed. Clinton bears responsibility but so do a lot of Republicans.

[pphilfran]

I just watched Too Big to Fail on HBO...not sure of accuracy but it gives a sense of the desperation that was happening in 2008...

[diverdog]

I just watched Too Big to Fail on HBO...not sure of accuracy but it gives a sense of the desperation that was happening in 2008...

LOL. I was doing the same thing.

We should have bailed out Lehmann. The ripple effect is still being felt today. It cost my bank $250 million dollars and we did not have any exposure to toxic assets.

[RUSH LIMBAUGH is my clone!]

yep. Gramm, Bliley, Leach and Greenspan. Not a Democrat in the lot. They could not get a floor vote on the bill and they buried in an omnibus bill to get it passed. Clinton bears responsibility but so do a lot of Republicans.




Hey, you "forgot" to add the important part of what happened.(wonder why that is?) We know that it was a democrat idea, and they pushed it, W was against it and outspoken against it. The r's didn't have enough clout to stop the pressure the govt. put on lending institutions, and some r's ultimately did act as if they were for it, scared of the media again painting them as mean spirited. (as always)

[diverdog]

Hey, you "forgot" to add the important part of what happened.(wonder why that is?) We know that it was a democrat idea, and they pushed it, W was against it and outspoken against it. The r's didn't have enough clout to stop the pressure the govt. put on lending institutions, and some r's ultimately did act as if they were for it, scared of the media again painting them as mean spirited. (as always)

What are you talking about? We are talking about allowing commercial banks, insurance companies and insurance companies to combine. You know the too big to fail banks. W made them bigger.

[RUSH LIMBAUGH is my clone!]

What are you talking about? We are talking about allowing commercial banks, insurance companies and insurance companies to combine. You know the too big to fail banks. W made them bigger.You were trying to convince people that banks were the cause of the economy failing, not government democrat pressure to make bad mortgage loans.

[SicEmBaylor]

NAFTA and WTO pushed by Clinton: The US' manufacturing base gets crushed.

Secretary of Treasury under Clinton, Rubin, pushes strong dollar policy to increase foreign investment in US equity markets: Again US manufacturing base gets crushed.

Clinton administration pushes the deregulation of Wall Street including doing away with Glass-Steagall. Results of that come home to roost in 2008.

Clinton administration pushes for lowering lending standards in the home mortgage industry: another catastrophe that hits the country after he left office.

Clinton was all about freeing up the psychos on Wall Street to rape, plunder and pillage. He did have a lot of help from the Republican party but lets not pretend he was a great President when it came to the economy. He simply paved the way for Wall Street excesses that had a lot of short term benefit and long term pain.
Keep in mind those exact same policies were championed by the Bush Administration as well while Clinton was more conservative with Federal spending than Bush was. I think that makes a big difference.

Lowering lending standards to get more low-income people into houses is really the worst of it, imo. He did it in order to brag about the increase in home ownership every year at the SOTU. Make no mistake though -- Bush did the exact same thing.

[SicEmBaylor]

You were trying to convince people that banks were the cause of the economy failing, not government democrat/republican pressure to make bad mortgage loans.
Fixed for accuracy.

[SicEmBaylor]

Exactly. You had the backdrop of one of the largest technical / social innovations in history as well as the biggest stock market bubble of all time. Money was rolling in everywhere. A snake-oil salesman's dream. Government was raking in taxes from all the cap gains. Money was being invested the flimsiest start-up companies. Employees receiving huge stock bonuses. Just one big party. Now we know the truth it was all smoke and mirrors. All we have now is one big financial hangover.

Clinton wasn't responsible for the tech bubble though. Those companies were producing nothing and were way way overvalued. The tech bubble collapsing was a proper and predictable market correction. I give Clinton credit for 1)Not interfering with the tech bubble at its zenith and 2)Not going ape**** when it collapsed and allowed the market to correct itself.

[Midtowner]

Lowering lending standards to get more low-income people into houses is really the worst of it, imo. He did it in order to brag about the increase in home ownership every year at the SOTU. Make no mistake though -- Bush did the exact same thing.

The vast majority of those loans have been good deals for all involved and have helped to stabilize low income neighborhoods' property values.

[SicEmBaylor]

The vast majority of those loans have been good deals for all involved and have helped to stabilize low income neighborhoods' property values.
I don't know if "vast majority" is accurate, but it isn't the successful lends that have been the problem.

[SanJoaquinSooner]

NAFTA and WTO pushed by Clinton: The US' manufacturing base gets crushed.


.

CRUSHED I TELL YA!!!

http://2.bp.blogspot.com/_oKWxWOEilyQ/THpS2dxTGiI/AAAAAAAACTw/DAeVP7OyT1k/s400/U.S.-Manufacturing-Output-1980-2006.bmp

[diverdog]

You were trying to convince people that banks were the cause of the economy failing, not government democrat pressure to make bad mortgage loans.

Where? Not in this thread. In fact, I was agreeing with Fanin that Clinton made a bad decision signing the bill to de-regulate the financial industry.

I can't believe you neg spekked me for your screw up.

[Midtowner]

I don't know if "vast majority" is accurate, but it isn't the successful lends that have been the problem.

And the unsuccessful loans, while damaging were not the majority of the problem with the subprime crisis. The CRA loans were only around 25-30% of the underwater loans. No one ever talks about the fact that in 2009, some 55% of commercial mortgages were underwater.

Lay the blame at a systemic failure caused by folks out for short-term gains.

[SanJoaquinSooner]

CLINTON'S ON golden globes now!!!

introducing best picture nominee Lincoln.

[SicEmBaylor]

CLINTON'S ON golden globes now!!!

introducing best picture nominee Lincoln.
I knew I hated Clinton.

[BigTip]

CLINTON'S ON golden globes now!!!

introducing best picture nominee Lincoln.
the drool on all the chins of the hollyweird crowd for Clinton is disgusting

[RUSH LIMBAUGH is my clone!]

the drool on all the chins of the hollyweird crowd for Clinton is disgustingthey drool socialist, democrat drool. They believe hillry will get elected due to her marriage to der schlickster, and all will continue to safely go downhill.

[RUSH LIMBAUGH is my clone!]

Fixed for accuracy.you act as though the r's actually wanted to have those mortgage loans that were certain to go bad. They were powerless to stop the d's and their nonsense, AND some were petrified of the MSM, giving lip service to those stupid loans. Of course many still are scared shi*less, as the MSM is just as phukced up as before, or even moreso. I would think you would know this stuff. Don't know why you don't.

[Midtowner]

you act as though the r's actually wanted to have those mortgage loans that were certain to go bad. They were powerless to stop the d's and their nonsense, AND some were petrified of the MSM, giving lip service to those stupid loans. Of course many still are scared shi*less, as the MSM is just as phukced up as before, or even moreso. I would think you would know this stuff. Don't know why you don't.

What a work of fiction.

CRA loans made up a small percentage of the overall picture and I'd be willing to wager that most of the brokers and underwriters in these cases were equal part R & D or close to it. The Republicans very much wanted the repeal of Glass-Steagall. Without that, none of this happens.

[SicEmBaylor]

you act as though the r's actually wanted to have those mortgage loans that were certain to go bad. They were powerless to stop the d's and their nonsense, AND some were petrified of the MSM, giving lip service to those stupid loans. Of course many still are scared shi*less, as the MSM is just as phukced up as before, or even moreso. I would think you would know this stuff. Don't know why you don't.

You act as though the Republican Party didn't have firm control of all three branches of government for most of Bush's presidency. You act as though every ****ty policy decision from the Bush Administration was because they and the GOP were somehow held hostage by the Democrats and forced to act in the way they did as though they had a gun to their heads.

It's a load of bull****. The Bush Administration was as happy to tout home ownership numbers as the Clinton Administration was and whatever accomplished that end was fine by them regardless of the risks or long term effects.

[RUSH LIMBAUGH is my clone!]

You act as though the Republican Party didn't have firm control of all three branches of government for most of Bush's presidency. You act as though every ****ty policy decision from the Bush Administration was because they and the GOP were somehow held hostage by the Democrats and forced to act in the way they did as though they had a gun to their heads.

It's a load of bull****. The Bush Administration was as happy to tout home ownership numbers as the Clinton Administration was and whatever accomplished that end was fine by them regardless of the risks or long term effects.If you continue to pretend that the r's are as solidly socialist as the d's , then you're part of the problem, by not voting or voting 3rd party. The d's love it that some who fancy themselves as conservatives ignore the reality of mathematics.

W Bush on several occasions spoke out against the braindead mortgage loans. You never seem to address that. Don't get me wrong. I know W was not solidly conservative, and sided with Teddy Kennedy and other anti-Americans on some things. I will be among the first to criticize him for some of the things he did. But, democrats were behind the goofy mortgages policy, and wanted to reward their constituents. They were the force that got those mortgages done.

Some republicans then, as well as today, are duly scared of the Media, and the damage they can, and will routinely do to republicans. That is the motivator for some of the republicans, and it most certainly is not helpful to them, or the party, or the country, for any of them to give lip service to socialist nonsense.

[hawaii 5-0]

Just another lame attempt to re-write history.

Actually I thought it was the winner's that usually try to re-write history.

Show's what I know.

Moving along now ........

5-0

[Midtowner]

Except CRA was only a small part of everything.

Is this fact just too inconvenient for you to even acknowledge?

[cleller]

So if Clinton The Good is the true article, who controlled Congress the majority of his presidency?

Bush pushed a lot of issues that hurt the county's finances, but its pretty obvious that Clinton first; and then Dems during the Bush Admin pushed the big issues that resulted in the mortgage crisis. Why fight it?

Of course it was Barney Frank that had the problems laid right out in front of him, but his mind was so filled with numbness, and his mouth with slobber he couldn't comprehend what was going on.

[XingTheRubicon]

I don't know if that was slobber

[SanJoaquinSooner]

NCrlq34caJE

[Curly Bill]

I don't know if that was slobber

ba-dum crash!