Obama Wrong: Housing, Not Tax, Policy Caused Recession

[Geee]

Investors Business Daily:

President Obama argues Republicans want to go back to pre-recession policies of cutting "taxes for the folks at the very top" and rolling back "regulations on big banks."

He warned: "We tried that top-down approach. It's what caused the mess in the first place."

Did it, though?

Most economists agree the recession was caused by the subprime mortgage crisis, which had little if anything to do with tax policies.

In fact, real economic growth accelerated after 2003, when the Bush tax cuts for top earners and small businesses fully went into effect. The 73-month economic boom of the 2000s didn't end until December 2007, when the housing market collapsed.

So what killed housing?

To hear Obama, greedy bankers were allowed to run amok, rubber-stamping loans for practically anyone with a pulse.

[Rheo]

Waters secures top Democratic spot on House Financial Services Committee

 

Rep. Maxine Waters (D-Calif.) has been officially named the top Democrat on the House Financial Services Committee.

The outspoken liberal vowed Tuesday to protect the Dodd-Frank financial reform law from GOP attempts to dismantle it, while pursuing reform of housing finance with the new chairman, Rep. Jeb Hensarling (R-Texas).

 

aaccck!

[Geee]

OMG!! Why didn't they give her banking-we know shes good at that. Oh wait-Elizabeth White Horse Warren got that!!

[Geee]

Whoops, got my House and Senate mixed up.