Democrats keep telling us it was Bush because it started during his administration. But it wasn’t. It started in 1976 when a DEMOCRAT administration passed a law called, “Community Reinvestment Act,” which required lenders to loan money to people REGARDLESS of their ability to repay. A “recipe for economic disaster” if I ever saw one. In Ayn Rand’s prophetic “Atlas Shrugged,” a similar law is what started the “strike of the achievers/producers” led by John Galt. The biggest banker in the nation “zeroed out” his books and disappeared, starting a run of similar people when they had had enough of the “looters” looting their earnings to support the “moochers” of society. This was done deliberately to create a condition the Democrats could use at will to create economic disaster, which would create a condition where Democrats could take advantage of it to get elected to office. They created Fannie Mae and Freddie Mac to “buy up” all those “toxic loans” and “keep the lid on” until they needed to use it. They “tripped the switch” just before the 2008 elections by effectively “shutting down” Fannie and Freddie” for a time, thus CREATING the economic disaster (during a Republican administration) they needed to get Democrats elected. It worked like a charm. Democrats were elected in droves, from President Obama right on down.
Then they refinanced Fannie and Freddie with all the money they ever wanted to “put the lid back on” while Democrats were in office. Unfortunately, it got out of control and “woke a sleeping giant.” America began to realize what was happening and defeated many Democrats in the 2010 elections, destroying their complete control of all three branches of government. We’ll complete the job in 2012 (I hope) and get rid of Obama and as many other socialists/Democrats as possible. I hope it happens that way, and I’m really tired of repeating this story over and over again, but people don’t seem to be paying attention. Bush tried 12 TIMES to “investigate” Fannie and Freddie, but his efforts were repulsed by the very Democrats who CREATED these monsters, Barney Frank and Chris Dodd. They’re still trying to blame the recession on Bush because it began at the end of his administration after YEARS of the longest boom period in recent history, created by (Republican) Reagan’s lowering of the basic tax rate which almost DOUBLED the “tax take” by INCREASING the number of people PAYING taxes by giving them INCENTIVE to make more money and not try as hard to avoid paying those sky-high taxes. You don’t improve the economy by RAISING taxes. That’s a simple economic act, but Obama and his thugs aren’t smart enough to know that. (Just common sense)