But the dittoheads say the rich tycoons of Wall Street and the mortgage/real estate industry were just fulfilling a tender-hearted desire of theirs and liberals of trying to help the poor get a home.

The fact that the unselfish public spirited financiers made billions off writing, packaging, selling, insuring and hedging the CDO paper was not a factor at all.

The financial crisis is definitely not "owned" by the GOP. And it's that kind of thinking that gets us to the wrong place.

The banking industry and the financial sector has been morphing for the past 28 years -- including the 8 years of the Clinton administration -- to get us to this point.

What this (GOP) administration does own is bankrupting the country on a lengthy and unnecessary military involvement in Iraq. Just imagine if we had the nearly $600B spent on the war
( http://zfacts.com/p/447.html ) now to place into the economy.

But the lack of fiscal responsibility and oversight is a bi-partisan issue. If you need further proof, just look at the number of Dems who were in the Keating 5.

A distant (believe me, VERY distant) cousin sent this to me today. It's from the Patriot Post, and it traces the financial problem back to ... who else? Bill Clinton.

Boy, do I not understand the Conservative brain.

http://archive.patriotpost.us/pub/08-39_Digest/index.php#continued

"Republicans OWN this financial disaster (and more!)"

"OWN" it????? Are you kidding? The ROOT of the problem is BAD loans to high risk borrowers mandated via Freddie and Fannie! Mandated by who?

The answer: What has four legs, long ears, and goes "HEE_HAWWW"

Obamas "bottom up" economic plan has a track record, and buukuu bad loans to lower income, high risk people were FORCED into the mortgage market. Then simple raw GREED, Republican and Democrat caused this.

Further, as someone pointed out above, Clintons hands are covered with dirt in this fiasco, and WHO contols Congress? What did THEY lay on Bushes desk that would have averted this crisis? ZIP.

If anyone OWNS this disaster, it's the Democrats, and the Paper trail leads Straight to them. The truth hurts, don't it? :)

Actually Clearthinker, you are't thinking so clearly. I haven't cherry-picked a thing. Ya need to pay attention, my friend. Note line seven in my post. Please don't assert that I asserted something I didn't.

Now you are half right. MZ Joanne is clearly cherry picking. Her "documentation' is sorta like someone using her post for documentation.

Further, her "documentation" didn't even remotely demonstrate what she states as her position. Mr. Jackson was a bad manager at HUD is all it proffered. Interest Rates and policywriting were not Mr. Jacksons Jurisdiction. He didn't have anything to do with setting loan mandates, his job, bungled or not was, merely to implement these democrat-driven policies. (Also: Please note that HUD itself is a socialist entitlement product of DEMOCRAT President Lyndon Johnson)

And I do agree that both parties were more than willing to go into Iraq. And in hindsite (There were none, though Sadaam DID essentially bluff and imply that he might have them might not)

He played a stupid game, but he WAS a dangerous man. He DID have a track record for using mass destructive weapons, and he was FAR too unfriendly to our nearby allies.

So, ya might want to can your hindsight-drivien pomposity, really. The reality is that we are there now, and ya can't turn back the clock.

Going in and finding no weapons is a blunder that will PALE in comparison to pulling out now that we're there.

Also . . .you added ZILCH to this discussion, ya just came in bitching about others with nothing to support yourself. Think clearly for a minute, get back on that high horse, when ya got something besides whining with no real substantive point of view.

Sorry Ronfucius.

The banks and their over leveraging is the real problem.

Why should Merril Lynch and Lehmans and AIG go under because less than 1% of homes in the US are being foreclosed? Huh?

Here are some other viewpoints on whether this is a real crisis and what the crisis really is:

Here's what 20+ year member of Congress Rep. Marcy Kaptur has to say: here:http://www.youtube.com/watch?v=S27yitK32ds&eurl

What another TPM poster and experts on a Harvard panel have to say here: http://tpmcafe.talkingpointsmemo.com/2008/09/26/is_the_crisis_real/index.php

What Glen Greenwald and Digby discuss is here: http://www.salon.com/opinion/greenwald/
(just scroll down to his September 24th radio discussion)

What Bruce Marks of NACA says here:
http://www.democracynow.org/2008/3/26/homeowners_plan_demonstration_at_ny

You, MSJoanne have done it again, loved your Clinton must read.

There have been some that have said he hasn't done enough,is really not helping. On the contrary he has conducted himself as an ex-president should. He has not demonized Mc Cain, while leaving no doubt Obama is indeed qualified.

He confirmed on Larry King he will be campaigning eagerly in the very important swing states after the first debate.

Thanks again for all the goodies.