Why didn't the Republicans filibuster it?
Why didn't George Bush veto it?
FYI
They did not write a budget until fiscal year 2008What legislation did Democrats pass that caused the recession after they took control in 2007?you're absolutely correct, but facts and figures mean nothing in the face of conservative rhetoric.
they also ignore how bush insisted that TARP be passed in a hurry, running around like chicken little screaming that the sky was falling, before anyone had a chance to read it to prevent the economic collapse that happened anyway.What legislation did Democrats pass that caused the recession after they took control in 2007?
It started with Clinton's " Partners for America: National Homeownership Strategy"
New Regulations of Banks.. Lend in markets they wouldn't before, or face massive fines.
Dems "Affordable Housing" initiatives ( No money down, no credit.. no problem, here's the keys to your new home)
Dems Created the "Subprime Mortgage". and they were SO PROUD of it.
Home ownership skyrocketed.
Then, Fannie and Freddie were buying, repackaging and selling these loans to Wall Street. ( The Fuse was lit)
Bush, tried 12 times to reign in Fannie with Regulations to prevent this, ( Recommended by Greenspan)
Dems on Senate Finance Committe blocked all attempts.What legislation did Democrats pass that caused the recession after they took control in 2007?Took control?
The Democrats did have a 33 advantage in the House, but were even with the Republicans in the Senate.
33 total votes is really not enough to take control of Congress. Especially since Democrats don't usually vote as a collective.
This started with the Clinton's. When he put pressure on banks to give out risky loans to people who eventually would be foreclosed because they could not afford the high mortgage pmts. In a documentary one woman blamed the banks for her foreclosure because she had taken out a mortgage for over $100,000 house on her measly $17,000 a year income. Common sense please! Bush's failure is due to him being warned about this coming and did nothing to stop it, but he did not start it. Blame the Clinton's! Clearly big gov can not make wise decision for us. We need to make responsible decision and use that common sense God gave us.What legislation did Democrats pass that caused the recession after they took control in 2007?It was the regularity authority of Chris Dodd and Barney Frank and pressure on lending institutions and the resulting free for all to make any loan happen no matter the possible risk, that brought the housing market collapse and the bank lending freeze, that halted other business. In comes Obama and takes a political approach to solving a practical problem. So obese with debt we as a country are frozen. Business is planning for survival instead of planning how they can make progress.What legislation did Democrats pass that caused the recession after they took control in 2007?
At this point in the economic cycle, millions of Americans should be starting their own businesses, setting the stage for a terrific recovery. It isn't happening this time around. See if you can figure out WHY this is not taking place. Incidentally, to do this you need to understand the theory of rational expectations. Each element of the liberal agenda adds costs and risks to every business.
The legislation that caused the financial crisis was the Commodities Futures Modernization Act, signed by Clinton in his final days as President. It passed with only 3 no votes.
http://2010.newsweek.com/top-10/history-鈥?/a>What legislation did Democrats pass that caused the recession after they took control in 2007?
The bills were passed in 2001 and 2003, they were tax cuts mainly for the rich who used their extra money to pump into real estate creating a bubble that collapsed and took most of the economy with it.
We have been in recession for the past 10 years or so. You can't just pinpoint one bill that dragged us into this hellhole while there are other elements attached to this matter, too.
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