I can’t believe that I missed your point, I will have to do some research on this….

The “sophisticated scam” was perfectly okay with Barney and Chris and both are on record havcing no problems with them and castigating the GOP for even questioning them.

These loans were a direct result of government intervention into a system that was working for decades.

The people who allowed this scandel to go on and perpetuate are ironically calling the shots instead of being behind bars where Dodd and Frank belong.

Banks were forced to issue mortgage loans to undeserving people.

Nope. Banks were pushed to make loans available to qualified borrowers in historically underserviced sectors, which had long tended to coincide with identifiable ethnic and racial segments of the population. They weren’t pushed issue to knowingly issue bad loans to persons who wouldn’t be able to repay them, nor were they pushed to lower their levels of diligence in verifying borrower qualifications. All of that was done by individuals and institutions who realized they could profit enormously from a well-meant initiative by creating an unprecedentedly high volume of transactions. They knowingly created unacceptably risky loans, concealing that risk from both borrowers and the institutions they passed the loans on to. This mentality was prevalent each step of the way to the far end of the chain, where risk was hidden in complex investment instruments that were given bogus ratings and dumped on unsuspecting global investors. Trusting people were deliberately being played for fools on both ends of the conveyer belt. The government’s chief fault lies in having trusted the financial industry to regulate itself. The assumption was that the financial industry would manage risk well itself, since good risk management had always been central to operating profitably. Unfortunately that’s not true when you’re essentially operating a highly sophisticated scam, and playing your game with other people’s money.

That’s because he gets away with it. With the fawning press, and the group-think of adulatory crowds, it’s a winning combination as far as he’s concerned. He isn’t held accountable for his mistakes and lies, so his hubris has grown to dangerous proportions. This recklessness is now manifest in his overreaching. If this stimulus/budget fails, he will come crashing down–but the rest of us will pay too.

No true at all. In fact there wil be tax increases for many of us that are buried in his other proposals. Also 95% of the public do not pay 95% of the tax revenue.

“Only those who have income in excess of $250,000 will feel the pinch.”

“Those” are households and therefore two people making $125,000/yr. are considred rich under Captain Zero’s plan. Also if you live in cities like New York, Boston, LA, SF, Chicago and mak that kind of income you are definately not rich.

This also includes all the small businesses who this economy depends upon to create real jobs (not short term government jobs).

“You do remember how we finally got out of the deep hole of the Great Depression Larry don’t you? We borrowed like drunken sailors during WWII.”

Do you know how we got into The Great Depression? We borrowed like drunken sailors and had massive government intervention which shut down the free market and did nothing to incent private investment. Itn was a world war that got us out of the Great Depression and not govenment programs.

Obama is doing exactly what FDR did except he is also using Alinsky tactics to scare americans and in doing so scaring off investors.

But there is a plan for Obama and that is to abuse this crisis to force in his socialist policies which have nothing at all to do with this recession. A good part of this is a massive redistribution of wealth.

Obama is not fulfilling on his campaign promises (which seemed to constantly shift). What he is doing is using the ignorance of people like you to push an agenda we have never seen in this country.

Obama cares less about foreign affairs and homeland security. His mission is to transform this country to be European socialist, so his agenda is purely domestic.

You are absolutely right about Afghanistan/Pakistan, which is why when Bush pinned the Taliban/Al Qaeda into those no-man’s regions they decided to leave them there rather than risk American lives for what would be suicidal missions.

I agree that Obama and Congress have utterly abused this situation by selling Americans that they were passing a stimulus package when in fact it was a catch all for political patronage and bribes so try and ensure re-election.

as far as the days of Clinton, he did not use government intervention in the economy, although there were things he should have done. One thing he admits he regrest doing was stopping this mortgage mess during his watch. Bush should have done the same thing.

And debt per se isn’t bad — most of us wouldn’t have houses or cars were it not for debt. It’s the AMOUNT of debt this administration is incurring that’s worrisome, as Larry rightly points out. Government cannot be the only spender if we’re to recover from this recession. And so far the administration isn’t focusing enough on solving the credit crisis, which when resolved would allow for more consumer and business spending, resulting in a positive effect on job loss happening RIGHT NOW. This should’ve been more of a priority from the get-go.

James made some valid points but he and his fellow partisans are being disingenuous and intellectually dishonest to too large a degree. So far, the agenda ostensibly deals with the recession but in reality too much of the proposed spending is political patronage/bribery and movement-progressive wish fulfillment.

Plus, why aren’t we hearing any howling about Iraq and Afghanistan? Do people realize the abysmal track record of waging war in Afghanistan? Where’s the hue and cry about quagmire?

Pres. Clinton cut military and welfare spending. While not everything was perfect in those days (it never is, is it?), I suspect a lot of us would welcome something more along the lines of his agenda rather than what we’re stuck with now.

obama is nothing more than a front man for those who put him into power — Soros, Brezinski, David Rockefeller — once the American people can wrap their heads around the reality that the presidency is nothing more than a symbol of democracy and is now virtually owned and operated by the corporate elites, which have taken control every other level of our government – local, state and national.

It’s going to be up to the people themselves to decide whether they are willing to fight for a government of, by and for the people or if they are simply going to hand over our country to corporatists.

I don’t know about any of you, but I don’t want to be at the mercy of this corrupt government and become a corporate toady for the rest of my life.

When the obama administration completes the government’s takeover of the banking system, the government will then have total control over the people and their very livelihoods. Thus, forcing us to work for the government, rather than the government working for us.

THIS IS NOT WHAT DEMOCRACY LOOKS LIKE.