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I can't wait to vote Homey D. Clown out of office. He just made things worse.

Taxpayerjoe, like many others blames everything on Obama rather than looking at the full picture. Many of the problems we fact today are the direct effect of deregulation and capatilistic greed...

1. Failure to Manage the U.S. Trade Deficit. The housing bubble (as well as the surge in leveraged buyouts of publicly traded companies ("private equity")) was fueled by cheap credit -- low interest rates. One reason for the cheap credit was an influx of capital into the United States from China.

2. Failure to Intervene to Pop the Housing Bubble. Along with an influx of capital, Federal Reserve policy kept interest rates very low. Bernake seems intent on making the same mistakes, with interest rates, as Greenspan.

3. Financial Deregulation and Unchecked Financial "Innovation." A key reason that mortgages were made available so widely and with such little review of recipients' qualifications was a shift in which institutions hold the mortgages. Traditionally, banks made mortgages and held them. In the new era, banks and non-bank mortgage lenders made loans, but then sold the loans to others. Investment banks packaged lots of mortgage loans into "Collateralized Debt Obligations" (CDOs) and then sold them on Wall Street, with a promise of a steady stream of revenue from interest payments. These operations were pretty much unregulated.

The above listed is the fault of BOTH political parties. Not JUST Obama or Bush.

NO business is "to friggin big to fail...."........... if most of the way these business's did business got them to the "fail" point then let the bastards fail.....

The mess we are now is mostly do to letting the BIG business's RUN & INFLUENCE this government...... the PEOPLE dont count anymore....BUT "we" have to pay the price.....right....

Bernake STILL seems to be kissin the ass's of the business's that got us here so the beat WILL go on.......

Obama is clueless about Capitalism and really wants it replaced with Socialism. The good news is that the American people will stop him and the bad news is he can cause a lot of damage during the next 3 years with the national debt. Hopefully we can replace the left wing loons in Congress next year to lessen the economic blow or debt.

It is good to think we need to rewrite all the business laws after the Bush people screw the American public that WORKS for a living. Now we have a good President that will stand up for the little guy. Way to go America. We can stand tall and proud again. Time to put Bush and his people on trial. Oh I forgot, we will very soon.

Todd,

You made three excellent points. However, with all due respect, you left out two more points which most people fail to realize, or fail to admit.

First, At some point, individuals should bear responsibility for their own actions. Most of those over extending themselves in credit were capable of simple math. It's not hard to understand that $5000.00 a month of income won't cover $7,000.00 a month in debt payments.

Second, specifically in regard to the housing crisis. Where were the lawyers??? Everyone who buys a house is represented by an attorney. The attorney representing the buyer is supposed to review all documents, and act in the best interest of their client. In my opinion, millions of lawyers failed their clients by not advising them against jumping into mortgages that they clearly couldn't afford. Also, lawyers should have made novice home buyers aware that the real estate couldn't continue to rocket at fever pitch forever. It was clear that the bubble was going to burst, yet business as usual was conducted right up to the last second

We now see what happens when we put left wingers in charge: despair, debt and an out of control government that is not responsive to the people.

Oh no it is very responsive. Just not to you Republicans any more then it was to the Democrats for the eight years of Bush. What the matter? you do not like payback time, to bad, you got 3 to 7 more years of it to go so enjoy.

"" Time to put Bush and his people on trial. Oh I forgot, we will very soon. ""

Dont worry, the way this "head up their butt" administration is spending money with complete DISREGAURD there will be NO trial...we wont be able to afford it.................

'Obama is clueless about Capitalism and really wants it replaced with Socialism.'

Because of course McDonald's aren't open anymore or anything. Also, the lack I looked the Democrats, Republicans and corporate interests are the ones who took a blow at our economy.