Jimmy Carter slams Bush on financial crisis

[malaise]

http://www.reuters.com/article/politicsNews/idUSTRE4993TS20081010

<snip>
Former President Jimmy Carter said on Friday the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

Carter told reporters on a stopover in Brussels that "profligate spending," massive borrowing and dramatic tax cuts since President George W. Bush took office in 2001 were behind the market turmoil and economic crisis.

"I think it's because of the atrocious economic policies of the Bush administration," said the 84-year-old Democrat, who served in the White House from 1977-1981 during a period of high inflation and energy crisis.

"The economic situation is an entrenched problem. It is going to take years to correct what has been done economically," Carter said, adding he hoped Democrat Barrack Obama would win and immediately improve Washington's image in the world.

Eight years ago, the United States had a budget surplus, low inflation and a stable, strong economy, he said.

Carter said he was astonished that the United States now owed China "in the neighborhood of $1 trillion."

Deregulation and what he called a withdrawal of supervision of Wall Street had encouraged irresponsible elements in the U.S. financial system, enabling banks to borrow 30 times their value.
----------------
Love you Jimmy Carter.

edit headline and again :D

[Occam Bandage]

1. Perhaps the headline could be reworded?

[malaise]

2. Done

:hi:

[dysfunctional press]

4. Ex-president Carter slams bush...

no sex threads. :evilgrin:

(besides- elder porn is just gross)

[Raster]

10. What a terribly ageist thing to say...I'm sure it was meant to be clever, but falls off the mark.

[liberal N proud]

11. It is just shortened from the actual article title

"Ex-president Carter slams Bush on market crisis"

[Raster]

14. No, the "elder porn is just gross" statement.

[dysfunctional press]

15. well...it is.

if you consider that "ageist"...oh, well. :eyes:

[Raster]

16. Yes I do. Think about it. Your trite comment used older persons as the butt of your joke.

Playing into negative sexual stereotypes of older persons. Elder porn is gross...TO YOU!

[dysfunctional press]

19. hey- if that's your kink- more power to you...

but imho- it's just gross.

[Raster]

20. With every passing day you will get older. And if you're lucky, find yourself becoming an "elder."

And hopefully, you won't have to deal with insensitive bullshit like you dish out. Have a nice life.

[dysfunctional press]

22. i'm already mostly there...due to a disabling arthritis of the spine-

and there's NO WAY that i'd be able to stomach a porno that featured someone in/with my condition- it would just be double-gross.(or perhaps double-hot to you folks with that particular fetish...:shrug:)

[Raster]

23. Dude, I don't have that particular fetish. I am only saying we--all of us collectively--are

insensitive to the needs and desires of elder Americans. I'm sorry I've jumped on you. It's a sensitive subject. I think we treat the older among us as second class and less than human. I believe we falsely idolize youth. Other, more enlightened cultures embrace their older members. We Americans seem to cast them off. Again, have a nice life. Take care. I hope your arthritis gets better.

[dysfunctional press]

25. tell it to the aarp...seniors get LOTS of extra perks in our society...

here in chicago, they get free rides on public transportation, and everyone else is getting a fare INCREASE to pay for it...the disabled? not so much.
they can get freezes on their property taxes...the disabled? not so much.
they can get aarp/senior discounts in lots of places...the disabled? not so much.

cry me a river for how "badly" the seniors are treated in our society...:eyes:

[liberal N proud]

3. Carter slams Bush on market sounds better

[malaise]

6. Done

LOL

[lpbk2713]

5. As usual, Jimmy's right.

The corrupt and inept band of BushCo thieves have ruined this country.

[SammyWinstonJack]

7. Hey FReeps, how you like them apples?

:evilgrin:

[Tuesday Afternoon]

8. K&R

:patriot:

[bdamomma]

9. I am sure Carter is not going to be the only one slamming Bush.

more world leaders are going to be putting their own comments in.

[Tinksrival]

12. Is there a sight to de-bunk viral e-mails?

I have been working on my repub in-laws and almost had them this past week until my f-i-l mailed out this:

I really want to fight this.....Help!

Written by Jerry Teasley of Pine Mountain , GA., a former
> Banker
>
>
> Most of my friends know, I have tried to stop thinking, but
> I can't help it
> in the wake of all the recent economic news.
>
>
> My banking career started in 1970 and ended in 1993, but I
> still keep close
> ties to the industry. During my banking years I did learn
> one or two things
> along the way. The problem with our economy today is from
> a liberal
> thinking congress, senators, and presidents, as well as
> greed and
> dishonesty. When you put these together it spells disaster
> in any area of
> our life.
>
>
> Ask any banker (just walk in and ask one that has been
> there for 15 or 20
> years) and they will tell you these are the FACTS:
>
>
> * Under Jimmy Carter we received the Community Reinvestment
> act. This
> law says banks have to make loans in low income areas and
> it has forced many
> lending institutions to seek to make loans to people in
> areas that lenders
> would not normally go because of the risk and low property
> values. (Sub
> Prime Loans). This was in 1977. In 1980 president Carter
> and a Democratic
> controlled congress passed the Depository Institutions
> Deregulation and
> Monetary Control Act-- The law also removed the power of
> the Federal Reserve
> Board of Governors under the Glass-Steagall Act and
> Regulation to set the interest rates of
> savings accounts. A Sad fact is we are all still feeling
> the effects of his
> policies and decisions 30 years later.
> <http://en.wikipedia.org/wiki/Glass-Steagall_Act
> <http://en.wikipedia.org/wiki/Regulation_Q
>
>
> * Then in 1995, Bill Clinton made changes to the
> Community Reinvestment Act, that forced an increase in the
> number of loans
>
> to these people and the aggregate dollar amounts loaned.--
> Larger loans to
> people with less income in areas where the collateral value
> would go down
> instead of up. ( Clinton should have had his mind on the
> long range effects
> of this instead of Monica and a good cigar.) This was in
> response to
> pressure from 'community organizer.' Can you think
> of a former Community
> organizer running for president? Hint - he's a
> Democrat
>
>
> * In 1999 Mr. Clinton signed to repeal the Glass-Steagall
> act which
> had protected taxpayers since the Great Depression.
>
>
> * In 2003 President Bush tried to propose a change in
> regulatory
> control over Freddie Mac and Fannie Mae and place both
> companies under the
> control of the Department of the Treasury, but was voted
> down by the liberal
> democrats led by Barney Frank. Remember the name Barney
> Frank, he is one of
> Obama's top two economic advisors the other is Jim
> Johnson who was the head of Freddie Mac and walked away with
> $24,000,000.
>
>
> * Now, Mr. Obama and his liberal cronies are spinning the
> facts so you will believe that all our financial problems
> are because of Bush's failed economic policy. However,
> OBAMA'S two MOST TRUSTED ECONOMIC ADVISERS TO HIS
> CAMPAIGN are the very people that were in control of Freddie
> Mac- Jim Johnson $24,000,000 and Fannie Mae - Franklin
> Raines $90,000,000 in 6 years).
>
> In addition, since 1989 their have been several politicians
> who have received campaign donations and kick backs from
> these two failed institutions. The #1 recipient is Senator
> Chris Dodd-D RI and the runner up is none other than Senator
> Barrack Obama who received the second largest amount of
> donations (over $500,000) which is phenomenal because he has
> only been in the Senate for 3 years.
>
>
> When Enron went belly up, we demanded Senate hearings and
> investigations.
> Why aren't the Democrats demanding the same with these
> companies?
>
> But, oh yeah, I forgot. It is Bush's fault! (Yeah,
> Right, Sure it is).
> Just ask a Banker.
>
>
> I am Jerry Teasley, banker, and I approved this email.

[Mr_Jefferson_24]

13. K&R. Carter's wisdom and truth telling is very much needed right now.

[lpbk2713]

17. Hey Shit-for-Brains .... You have been set straight by an 84 y/o who knows what he's talking about.

... and we haven't had anyone in the White House who knows
what they're talking about for about eight years.


Now get yourself a bottle of gin and go back to Crawford
for a couple of days and try to stay out of trouble.

[Ganja Ninja]

18. Yea Jimmy!

If ever there was a President that had the right to blame his predecessors for his troubles it was Jimmy Carter. Bush on the other hand was handed a government with in peace with a robust economy and a surplus to boot.

[LaPera]

21. Man, the republicans will be trashing Carter they hate their elitist Bush getting rightfully blamed

The republicans never accept the blame no how much they fuck up, they are always pointing the finger at the democrats, even this republican caused depression which is obvious from republican greed for deregulation, they still won't accept any of the blame.

[Raster]

24. If the rethuglicans had any smarts they would band together and blame EVERYTHING on cheney*/bush*.

After all history will be. It might be the only way for the rethuglican party to maintain any shred of credibility. The 'thugs can come up with all kinds of great excuses how they were mislead, how they didn't know how nefarious AND STUPID Smirk* and Snarl* really were.

Smirk* and Snarl*, the truly toxic twins.

[Xchanged]

26. Shhhhhhh

As much as I dislike Bush...Jimmy has no room to talk