Would any democrats like to tell me more about how the following issues are forgotten?
Clinton was so great...
Do I dare talk about the welfare reform that Clinton grudgingly signed after vetoing it twice, that was so successful? Why did he finally sign it? Or his financial deregulation? Or the Gramm-Leach-Bliley Act? Or the Commodity Futures Modernization Act? Or the rewriting of the Community Reinvestment Act?
In the name of blaming everything on someone else, I figured it was fair to bring up some major contributors to the problems we have faced over the last 5 years.
I do think that the American people have forgotten all the problems that Romney cause for Massachusetts when he was Governor. The same issues he is accusing Obama was the same issues he promised the Bay State residents.Right is right in all eyes 5 ten of 15 years Romney screwed up.
I'm not a Democrat, But you bring up some very interesting questions that I would LOVE to hear answered. Another question I would like to know is why He let Osama Bin-Laden get away?
For Democrats: It's called "Rosy Retrospection", it's a memory bias that results from the bio-chemistry in the way our brains store memories.
For Republicans: It's called "Hindsight Bias", it's a process by which your brain plugs in facts that weren't available when a decision/action initially took place.
As a conservative, in my humble (albeit unsolicited) opinion, let's work on fixing the problem first, then figure out who's to blame for it.
Even the "great" presidents made mistakes, caused or postponed problems. Should we go back and look at what Reagan did wrong? He's like a god when it comes to past presidents and yet he wasn't without fault as well.
illegal immigrant amnesty
taking over part of Lebanon and shelling Israel
Plus several others that helped give rise to Islamic terrorism.
As for the welfare act- look at why he vetoed it twice. Not because of the core- he worked hard for a lot of it's core content. It was because of what was tacked onto it. So in order to finally get the welfare reform he wanted so much he had to give up on other important issues. As for the others I was way to young to remember and would have to do research before discussing them.
I am not a democrat, but thanks for asking this great question!
1. Why did BILL CLINTON sign off on the Gramm-Leach-Bliley Act?
Republicans cotnrolled congress in 1998. Republicans repealed the act by a veto proof majority. Democrats had no power to stop it. "The bills were introduced in the Senate by Phil Gramm (R-TX) and in the House of Representatives by James Leach (R-IA). The bills were passed by a 54-44 vote along party lines with Republican support in the Senate and by a 343-86 vote in the House of Representatives. Nov 4, 1999: After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. The final bill resolving the differences was passed in the Senate 90-8-1 and in the House: 362-57-15. This veto proof legislation was signed into law by President Bill Clinton on November 12, 1999. "
2. the Commodity Futures Modernization Act was passed as part of a larger bill by unanimous consent after Phil Gramm dominated the Senate debate. Gramm also gutted the SEC funding and forced Arthur Levitt out. Levitt was told to forget regulating derivatives or else. This is the same Republican that was John McCain’s financial advisor during his presidential campaign.
3.the Community Reinvestment Act. Clinton wasn't in the legislature. He couldn't revise it without their agreement. I guess you ignore this because it was a GOP controlled congress. Not to mention the 1995 revisions to the CRA changed only the way in which a bank’s CRA compliance is evaluated. There is no mention of mortgage securitization. Banks are rewarded only for making mortgages in their communities, not for re-selling mortgages as securities.
More than half of problematic sub-prime loans made in the last few years were issued by banks that are not regulated by the CRA. The CRA applies only to financial institutions that are insured by the FDIC, but not to independent mortgage companies such as Countrywide. In fact, non-CRA lenders were twice as likely as CRA lenders to issue excessively expensive subprime loans to vulnerable creditors. Responsible mortgages made by CRA lenders have a low rate of foreclosure similar to that of traditional mortgages.
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