Originally Posted by mimartin
You think Obama representing a group that sued banks to force them into issuing Sub-Prime Mortgages led to this fiasco! 700 billion is extreme amount for such a minor problem.
No but but where was he when McCain tried to get this problem fixed back in 2007? He was taking kickbacks from Fanne/Freddie.
Did Obama also sue the banks into issuing variable rate loans? Did Obama sue them into make this sub-prime loans into investment securities? Did Obama sue the banks into giving multiple loans to those wishing to profit from the housing market? Etc, etc…
Point is he was involved in it, also he had a chance to stand up and support McCain's call for it to be fixed.
There is no one thing that led to this mess, so there is no one person to blame.
Actually, you can place blame on the Democrat Party, though the media is taking great pains to avoid mentioning it.
President George W. Bush tried to get more regulations in that would have prevented this mess. (Least the one involving Freddie/Fanny)
: Democrats fillabustered the bill.
John McCain and some other Republicans tried to get this fixed TWICE
! Once in 2005-2006, and then tried again in 2007.
2005-2006 Dem's fillabustered it
2007 Democrats shot the bill down saying there wasn't a problem.
Even Former President Clinton has blamed Democrats for this.