I see how it works.......

You keep boasting about the great economy under Bill Clinton...where do you think that came from? It trickled down to Bill from Ronald Reagan and George H.W. Bush.

...you're welcome!

 

And he managed to get us in a recession by the end of his term.

 

Also, let's not forget that Clinton's policies led us into the financial disaster that finally crashed down in 2008. One reason was due to his repeal of the Glass-Steagal Act. What the hell was he thinking?

One Democratic president, Franklin Roosevelt, put a cage round Wall Street after its excesses in the 20s led to the Wall Street crash and the Great Depression. Another Democrat, Bill Clinton, gave Wall Street the cage keys.

After a fierce lobbying campaign, Clinton agreed to repeal the Glass-Steagall Act, which ensured a complete separation between investment and retail banks. The move heralded the coming of superbanks, huge behemoths that took in retail deposits and used them to take highly-leveraged punts in the markets.

To make matters worse, Clinton beefed up Jimmy Carter's 1977 Community Reinvestment Act to force lenders to take a more relaxed approach to disadvantaged borrowers. Liberalised banks plus millions of new sub-prime customers equalled one big problem.

http://www.theguardian.com/business/2012/feb/03/who-caused-financial-crisis-great-recession

 

Well said!

 

The GLBA (Gramm-Leach-Bliley Act) repealed Glass-Steagall.

 

Correct. GLB was signed into law by Clinton on November 12, 1999.

 

And Gramm, Laech, Bliley were Republicans.

 

... and the president who made it law was a Democrat.

 

Then the president during the economic collapse was a Republican... Own it bitch!

 

All but 1 Republican Senator and 5 Republican House members voted in favor of it also. Republicans are currently blocking the reinstatement of Glass-Steagal. Hum? I wonder who really is for this financial gift to the wealthy?

 

Well there you go guy's it simply shows what happens when both sides do work together LOL (Now just stop and think about it before commenting LOL)

 

Yes, thanks to Bill Clinton, George W. Bush inherited an impending economic collapse. Thanks a lot, stupid democrats!

 

It would have never become law had Clinton not signed it. See, that's how our system of government works. The president ultimately takes responsibility (well, at least MOST presidents... in Obama's case who the hell knows where the buck stops).

 

Final version of the bill passed the Senate with something in the neighborhood of 90 votes. HOR less than 50 votes against.

 

Except Bush who either was the victim of Clinton or was pre-undermined by Obama. It's nice how that works for the Right-wingers eh.

 

After 5 years of everything being Bush's fault, ...................

 

Democrats backed off and let that bill become law because they wanted the banks to make bad loans to "underserved" communities. The Community Reinvestment Act (CRA) used the repeal of Glass-Steagall to goad banks into risky behavior; behavior the Democrats encouraged.

 

Still it was Republican sponsored Legislation from beginning to end.

 

Your ability to ignore that you losers blame Clinton "8 YEARS" after he left office for the worst recession in generations continues to amaze me. But heaven forbid we blame Bush for what he actually did. This more than anything defines just how crazy you losers really are and also why your party continues to be filled will dinosaurs headed for extinction.

 

Everyone is entitled to their own opinions, but they are not entitled to their own facts.

BTW, I said nothing there about blaming Clinton.