Leave it to the BBC to reveal the truth

[moondog]

Well, Mink and saunterelle, as well as many others, wish to blame all of our woes on Bush, especially the economic crisis. Well, it seems that there were a lot more Democrats involved then anyone is letting on, including one Nancy Pelosi.

Suck it up Mink and saunterelle, the lies are exposed. Sure, Bush bears some of the responsibility. As does Bill Clinton and every Democrat who signed onto the insane scheme to loan money based on race, leading to the infamous NINJA loans. All created at the stroke of Bill's pen, but never put to rest by George W. Bush. Yep, admit the truth Mink and saunterelle, it will set you free.

[subdjoe]

Good find, thanks. Of course the left will dismiss it out of hand.

[moondog]

Thank you.

[moondog]

And it was dismissed, see how saunterelle still goes around ignoring these facts.

[saunterelle]

Guess what, I've already placed blame for the loan crisis at the foot of the Democrats. However, the loan crisis is only a small portion of the overall economic crisis.

[moondog]

Well now, on this you are wrong. It has been shown that the housing crisis is directly responsible for the overall economic crisis. It all began in two States, California and Florida. It all began after regulators brought this to the attention of the head of the House Financial Services Committee Chairman Barney Frank, who blamed the regulators for "picking on the banks."

These loans or "toxic assets" became toxic when foreclosures started to mount. This affected the banks who were lending out the money and expecting to be paid back by the people the Democrats wanted them to sell the homes too. When they didn't pay the loans back, AIG became affected because they were the institution that was insuring these banks. Once AIG went it began to affect the Stock Markets. And, like dominoes, it continued on down the line taking Fannie Mae and Freddy Mac along with them because they were way under capitalized, as Bush warned. The rest, as they say, is history.

I hope you were paying attention, because I do not want to explain it to you a third time. And if you have trouble in the future, just refer back to this post to be refreshed on the actual chain of events that got us to where we are today, political rhetoric aside.

Here copy this link norcaldebateclub.proboards82.com/index.cgi?action=display&board=currentissues&thread=744&page=1 and save it for when you forget what actually caused our financial crisis.