Another Reason...

[Jermyn Davidson]

Originally Posted by Rico

Actually, this sub-prime mess that is causing all these issues with the real estate market started with the banks relaxing their rules on loans back in the 90s, during Clinton's time in office. That was when credit started opening up to everyone and anyone with a job. It just took all this time for the wave to come crashing down.

Rico,

loans from "stated income" only did not exist in the 90's did they?

that is just one of the practices that has helped to create the financial mess in the housing market. the financial mess has wide ranging affects, that I believe to be centered around the housing crisis-- the housing crisis that did not get out of hand until this century.

[chosenbyone]

“There’s an old saying in Tennessee — I know it’s in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again.” — George W. Bush, Nashville, Tenn., Sept. 17, 2002

[Rico]

Originally Posted by 1399

Rico,

loans from "stated income" only did not exist in the 90's did they?

that is just one of the practices that has helped to create the financial mess in the housing market. the financial mess has wide ranging affects, that I believe to be centered around the housing crisis-- the housing crisis that did not get out of hand until this century.

I know that, 1399. The loans that are the root cause of the housing crisis started being offered during the 90s. Once the sub-prime market took off like a rocket, property values started sky rocketing too. We have ridden that wave out, and it came crashing down on us. It (these easy to get home loans) started back in the 90s, not during Bush's administration.

[Jermyn Davidson]

Originally Posted by chosenbyone

“There’s an old saying in Tennessee — I know it’s in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again.” — George W. Bush, Nashville, Tenn., Sept. 17, 2002

cb1,

does this intentionally does not make any sense? or am I missing something?

[chosenbyone]

Originally Posted by 1399

cb1,

does this intentionally does not make any sense? or am I missing something?

I get a little slaphappy when I am tired.

[Jermyn Davidson]

Originally Posted by Rico

I know that, 1399. The loans that are the root cause of the housing crisis started being offered during the 90s. Once the sub-prime market took off like a rocket, property values started sky rocketing too. We have ridden that wave out, and it came crashing down on us. It (these easy to get home loans) started back in the 90s, not during Bush's administration.

Well, I'm not convinced of that. We had a "mini recession" in 2000 and then 9/11 also affected our financial systems. Policies encouraged and enacted after those two events, I think, are the roots of our current crisis situation.

We'll say your assertion is true. Still, proper fiscal oversight FROM THIS ADMIN could have stopped things from getting out of hand like they are now.

Things have gone sour on Bush's watch, after almost 8 years of it being his watch. There is plenty that could have been done on his watch to thwart this current crisis.