Need help retorting GOP criticism that current economic woes trace to the Clinton Admin

[Unsane]

Can anyone retort the claim that Clinton contributed greatly to the current economic collapse by extending to underprivileged, minority mortgagors loans that they couldn't possibly repay (and then they default).

[ingac70]

1. Racist bullshit...

I guess minorities are the only ones losing homes? :eyes:

Clinton is partially to blame for undoing Glass-Stegall in 99, along with all of the Repukes in the Senate.

[LiberalAndProud]

2. Rs have had 8 years to fix whatever Clinton broke.

If they haven't fixed it yet, it's because they HAVEN'T A CLUE.

[NYC_SKP]

3. That particular problem was a Bush job, no?

Clinton has to take the blame for NAFTA, but I this push for deregulation and extension of subprime loans to what would otherwise be underqualified borrowers is a more recent development.

Even Michael Savage recognizes that and played a tape of Georgie speaking about millions of new homeowners on his radio show earlier this week.

[spinbaby]

4. Alternatively

"We've had a Democrat congress for two years and look what they did to the economy!"

Heard that one not ten minutes ago from my redneck neighbor. Same one who thinks that McCain can't use a computer because he was a POW.

[nyhuskyfan]

5. I heard that from someone too

And I challenged them to give me one piece of legislation that was passed or not passed by the Democratic congress in the last year and a half that could be even partially responsible for this mess. The only thing he came up with was an energy bill not being passed. But he then admitted he was reaching.

[cyr330]

6. FUCKING BULLSHIT!

I thought I had heard it all. . .

[Hippo_Tron]

7. Nobody ever forced banks into the sub-prime market

And there is no law and no regulation saying that banks have to loan money to people with bad credit. The Equal Credit Opportunity Act (passed long before Clinton was in office) simply says that you have to extend the same credit to people with the same credit history regardless of their race, sex, religion, etc.

[TygrBright]

8. The Clenis strikes again!!! n/t

[wyldwolf]

9. well, many here would love to hang it on Clinton, too...

... it would make their job discrediting the most successful President in a generation that much easier.

But Presidents aren't in the lending business and the Republican-controlled Congress of the 90s would be the culprit if any suspect banking laws were passed. ;)

[ReadTomPaine]

10. At this point, the best tactic...

is also the most direct.

[sniffa]

11. There was an LTTE in today's Boston Globe tracing it to Carter

The Community Reinvestment Act forced banks to lend to people who were not worth lending to (ie: black people).

[No Elephants]

12. Who cares? Clinton is not running, is he?

[No Elephants]

13. De-regulation that began with Reagan caused this mess. Gramm in particular

led to the sub-prime crisis, which McCain himself blames this mess on.

[VoodooGuru]

14. Whip out Thomas Frank's The Wrecking Crew

A deregulator's worst nightmare. This mess is caused by the free market being too free, plain and simple.