BF2S Forums Silence

Well he spoke;

"The American people are concerned about the situation in our financial markets and our economy, and I share their concerns. I've canceled my travel today to stay in Washington, where I will continue to closely monitor the situation in our financial markets and consult with my economic advisors.  I spoke to Secretary Paulson this morning, and I will meet with him later on today. In recent weeks, the federal government has taken extraordinary measures to address the challenges confronting our financial markets.

We've taken control of Fannie Mae and Freddie Mac -- the home finance agencies -- to help promote market stability and to ensure they can continue to play a role in helping our housing market recover.  This week, the Federal Reserve acted to prevent the disorderly failure of the insurance company AIG -- a development that could have caused a severe disruption in our financial markets and threatened other sectors of the economy.  Yesterday, the Security and Exchange Commission took action to strengthen investor protections and step up its enforcement actions against illegal market manipulation.  Last night, the Federal Reserve, in coordination with central banks around the world, took a substantial step to provide additional liquidity to the U.S. financial system.

These actions are necessary, and they're important.  And the markets are adjusting to them.  Our financial markets continue to deal with serious challenges.  As our recent actions demonstrate, my administration is focused on meeting these challenges.  The American people can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence. Thank you. "


Didn't make me feel better.

usmarine wrote:

christ ATG

I think he was on the news the other day or last week he said something like: Dont worry everything will be A ok!

"The American people are concerned about the situation in our financial markets and our economy, and I share their concerns," Bush said at the White House. "The American people can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence."

http://www.canada.com/windsorstar/news/ … 4d8188e92d

So once again the Blame game is happening.. Oh look 8 years later our economy is taking a dump and people can't afford there houses because of inflation and the lack of well paying jobs. I know whose fault it is, it was Clinton's, and before it was Clinton's fault all of our Whoo's in this country steamed from JFK..

This situation stems from a lack of action from our government, maybe it's because we have an absentee president. Someone who has failed in everything that he has attempted to do through out his presidency. It's embarrassing that we're supposedly the worlds super power but everyone in the rest of the world looks at us like Dumb Shits because we have an incompetent president/party running things right now.

Let's see during the Clinton Years I believe everything was good, there was hope, people where prospering. Now it's nothing but failure after failure, with a lets ride it out mentality. The only thing that matters is lets win this war on terror, and oh shit our Yemin Building just got attacked. Yippie I thought this long drawn out war was to prevent attacks, there's an other failure..


Edit: well since it was Clinton's fault can we bring him back so he can fix it?

Last edited by cpt.fass1 (2008-09-19 09:02:25)

Right because I follow politics like you follow religion with blind faith.

Just a question when you get hired for a job to replace someone is it your responsibility to make sure everything is running smoothly or do you just sit there and constantly explain to your boss that everything is messed up because of the last guy?

Right because of policy from over 8 years ago, in order to stimulate growth in poorer areas and create property tax revenues instead of abandoned housing in area's. Thanks to programs like the CRA, Newark NJ is doing allot better, they've been able to hire a lot of police and are moving towards stability.

So wouldn't why it happen be because the current administration sat around and didn't take action to stimulate the economy. It's not missing your point, it's calling you out on finger pointing. We're here because of the current admin not because of one that was causing us to prosper.

Well the foreclosure market isn't just in the CRA loan area. Besides when looking at the size of those loan(keep in mind we're talking about poorer area's) you're talking about tops 120k, they're also all Full doc loans meaning you needed to show income to qualify for them. In the mortgage market in the past 7-8 years majority of them were actually pretty secure.

Those weren't given out to Not be raciest, they where giving out to get homes that were abandon bought up to generate tax revenue and revitalize city's.

I'm proud of you two, my friend who has a Union job just got a pay cut of 15k a year and is now struggling to stay above water. I do not know what you do for a living but I hope you don't fall into a pay cut or loss of job any time soon. For all I know you could own your house out right.