Is the Obama administration employing a make-it-hurt strategy

[Revmitchell]

to gain political leverage in the budget battle on Capitol Hill?

Republicans are making that charge as the stalemate drags on, and point to the Pentagon furlough of 400,000 civilian staffers -- even though Congress passed and the president signed a bill to supposedly keep them on the job.

http://www.foxnews.com/politics/201...accuse-administration-inflicting-budget-pain/

 

[Don]

Of course they are. Just as they did with sequestration.

 

[thisnumbersdisconnected]

No doubt. The thread concerning the park the NPS closed when they don't even operate it is a classic example of this kind of "public relations in reverse."

 

[poncho]

We don't have the money to keep our big centralized government open but we got enough to keep giving the bankers who ruined our economy 82 billion dollars a month in bailout money.

Something the democrats and republicans agree on. Both parties are responsible for making it hurt. But then what can we expect from a government that pimped us all out to the global bankers?

 

[Revmitchell]

Bankers did not ruin the economy. Government regulation of the housing market did.

 

[thisnumbersdisconnected]

Government regulation of the housing market did.

Or rather, "non"-regulation of the housing market did. :thumbsup:

 

[Revmitchell]

Or rather, "non"-regulation of the housing market did. :thumbsup:

No regulation did. Forcing banks and lenders to loan to people they would not have loaned to otherwise. Then those people defaulted on their loans in a massive way hurting the lenders.


The lenders only acted in a way to cover themselves as much as they could given the regulations.

 

[thisnumbersdisconnected]

No regulation did. Forcing banks and lenders to loan to people they would not have loaned to otherwise. Then those people defaulted on their loans in a massive way hurting the lenders.

The lenders only acted in a way to cover themselves as much as they could given the regulations.

Excellent point, one I had missed over the years, but you're right. The "Equal Opportunity Lending" clauses are really what screwed up the lending market and started the house of cards toppling.

 

[poncho]

http://www.youtube.com/watch?v=3u81di6JmXw

 

[poncho]

http://www.youtube.com/watch?v=Rz1b__MdtHY

Here's the the rest of the story as told by an expert in the filed of banking and regulation guys. It's a bit more factual and detailed than yours Rev you are partially correct. The banksters, government and media did try to blame this all on lazy deadbeat borrowers but as usual when looking at ALL the facts and evidence a different picture emerges once all the spin is cut away.