Question by ang§tgegner: How is this recession Dems' fault? ~~If you argue that CRA (Community Reinvestment Act) FACT: 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks. http://74.125.45.104/search?q=cache:TcA9Tzx4aqgJ:www.house.gov/apps/list/hearing/financialsvcs_dem/barr021308.pdf+subprime+University+of+Michigan%27s+Michael+Barr&hl=en&ct=clnk&cd=1&gl=us&client=firefox-a @@If you argue that Bush said to protect Fannie and Freddie but Dems didn't listen: FACT: Dems did listen and Republican Richard Baker's 2005 Federal Housing Finance Reform Act which would help regulate Fannie and Freddie: PASSED by House but NOT PASSED by a Republican-controlled senate: http://www.govtrack.us/congress/bill.xpd?bill=h109-1461 ##If you argue that McCain said something in 2006: FACT: two years ago McCain was speaking of the INTERNAL ACCOUNTING scandals in Fannie Mae and Freddie Mac, NOT the loose lending practices. And McCain told a New Hampshire paper in late 2007 "I'd like to tell that I did anticipate it, but I have to give you straight talk, I did not." $ $ If you argue that Barney Frank didn't do anything: FACT: Barney did as he pushed his 2007 Federal Housing Finance Reform Act which would help regulate Fannie and Freddie: PASSED by House but NOT PASSED by a Republican-controlled senate: http://www.govtrack.us/congress/bill.xpd?bill=h110-1427 If you argue that Dodd/Obama/Hilary took money out of Fannie and Freddie: FACT: McCain's $ 169,000 from Fannie AND Freddie directors and officers and lobbyist compare to Obama's $ 16,000 (EVEN you put individuals from Fannie AND Freddie for Obama: $ 105,849�?�Obama still has less than McCain): http://graphics8.nytimes.com/images/2008/09/10/us/politics/10fannie.graphic.jpg Aquiles Suarez=, listed as an economic adviser to the McCain campaign in a July 2007 McCain press release, was formerly the director of government and industry relations for Fannie Mae. The Senate Lobbying Database says Suarez oversaw the lending giant's $ 47,510,000 lobbying campaign from 2003 to 2006 In addition, Politico reports that at least 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $ 12.3 million over the last nine years. http://www.motherjones.com/mojoblog/archives/2008/09/9663_mccain_fannie_freddie.html Best answer for How is this recession Dems' fault?:
Answer by Javier Cenesteo
its both parties fault
Answer by Illuminati want Depopulation
3 years ago (D) Barney Frank said nothing was wrong with Fannie Mae, Maxine Waters (D) said nothing was wrong as well, Chris Dodd received tons of Lobby money from Fannie Mae, and now they want to blameshift! This is your Dem Unions at work. Unions are using undue influence through the Union media, Union writers (of newspapers & magazines), Union Hollywood, Union Musicians to promote Obama and criticize Republicans. Clinton deregulated wall street- This was done through the Financial Services Modernization Act of 1999 Unions want to "unionize" the Gov't. In Russia, Unions in Gov't is Communism! 40 Techniques of the Illuminati http://www.newswithviews.com/Hayes/giann... The labor Union Godfathers have planned long and hard, covering all their bases, and devised ingenious ways to conquer us. Be on guard.
Answer by Got Freedom? Thank a soldier.
Two words: DEMOCRATIC CONGRESS
Answer by Buck Ofama
here this will answer yur question: Explosive Video, Fannie Mae CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie Mae http://www.youtube.com/watch?v=usvG-s_Ssb0 Burning Down The House: What Caused Our Economic Crisis? V2 http://www.youtube.com/watch?v=NU6fuFrdCJY AND, who pushed for the minimum wage increase? dems did! To help teenagers? No, unions pushed for it because many contracts were tied to it (min wage times a factor of x) they could get a raise without renegotiating the contract. That kicked off a rise in unemployement begining in August..
Answer by daniel m
Don't present facts to wingnut Republicans. Their heads will explode.
Answer by grob
I agree with you but this is kinda ranty.
Answer by San Jose
it's no ones fault but how they handle it will be their fault. raising taxes is not the way to handle it. tax CUTS increase revenues.
Answer by punkydoodle218
Is there really a question here or a rant, that being said it's both parties fault.
Answer by Ua
FACT: Higher taxes means less money in peoples' pockets... Government regulation and intervention kills initiative, hurting small business... inflation, unemployment increase, and the economy gets worse. FACT: Bush and McCain aren't responsible for everything bad under the sun.
Answer by brave new world
The best summation of what really happened that I have seen yet. The other big lie is that they were "forcing" companies to make loans - the talks were about STOPPING mortgage companies from making loans to unqualified buyers - which was called predatory lending. The mortgage companies refused!!!
Answer by Kevil
its not
Answer by Block Wall
Google CRA. Sorry, but all your ranted dem actions happened only within the last two years. The seeds for this disaster were sown long before that.
97% owned present serious research and verifiable evidence on our economic and financial system. This is the first documentary to tackle this issue from a UK-perspective and explains the inner workings of Central Banks and the Money creation process. When money drives almost all activity on the planet, it's essential that we understand it. Yet simple questions often get overlooked, questions like; where does money come from? Who creates it? Who decides how it gets used? And what does this mean for the millions of ordinary people who suffer when the monetary, and financial system, breaks down? Produced by Queuepolitely and featuring Ben Dyson of Positive Money, Josh Ryan-Collins of The New Economics Foundation, Ann Pettifor, the "HBOS Whistleblower" Paul Moore, Simon Dixon of Bank to the Future and Nick Dearden from the Jubliee Debt Campaign. Political philosopher John Gray, commented, "We're not moving to a world in which crises will never happen or will happen less and less. We are in a world in which they happen several times during a given human lifetime and I think that will continue to be the case" If you have decided that crisis as a result of the monetary system is not an event you want to keep revisiting in your life-time then this documentary will equip you with the knowledge you need, what you do with it is up to you.
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The Companies Act of 2006 is a statute in the United Kingdom that basically deals with regulating businesses and companies that lie in its jurisdiction. This act is considered to be one the longest to be in the British Parliament. It has 1300 sections and it is almost 700 pages long. The Table of Contents itself is 59 pages long.
But the Companies Act of 2006 is important to companies who don't always do the right thing when it comes to their business. There are so many different areas of the Companies Act of 2006 that we can't possibly list them all. So here are some topics that it does cover. For example, the Companies Act of 2006 covered the Company Formation UK. This is a practice of how companies go about incorporating themselves either by going to the Companies House or via Internet.
The Companies Act of 2006 covers the Execution of Documents; these are basic formalities for execution of documents that may need to be revised so a director or the secretary of a company can execute these documents on the company's behalf.
This Act also covers Shareholder Meetings, Shareholders Communication and Distributions in Kind and much, much more.The companies that must abide by the Act are Public and Listed Companies as well as Private Companies. For Public Company Formations UK, the Companies Act of 2006 will cover Business Review, which includes any information on environmental issues, employee issues and even social issues. The Business Review will also contain information of contracts and other business obligations.
The Companies Act of 2006 will also contain Voting by Institutions, Paperless Share Transfers and Transparency Obligations Directives.
The Act covers all topics relating to business and that includes takeovers. The Private Companies must follow the Act in regards to Short Notice of Meetings, Allotment of Shares, Company Secretaries and Financial Assistance.Some of the contents in the Companies Act have been changed and will be in effect starting January 2007. Some of those changes that are made are the Co identification of Directors duties when it comes to new duty to promote the success of the company. Another change included extending the rights of shareholders to sue the directors of a company for negligence and other defaults and rights to bring claims on behalf of the company.
Some of the other changes included making it easier for the laws of the company to be updated in the future. Other changes is facilitating e-communications and introducing different measures to allow companies to limit the liabilities of their auditors. The new changes allow promoting shareholders engagement and long-term investment culture through enhancing the powers and the proxies and enfranchising indirect investors.
More UK Companies Act of 2006 Topics
