BILL CLINTON: THE HOUSING BUBBLE KING OF ALL TIME

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 Bill Clinton: GOP 'Begging For America To Fail'

Former President Bill Clinton weighed in on an increasingly likely government shutdown in an interview with ABC's 'This Week'. Clinton criticized Republican demands, as well as their obsession with Obamacare.

"I've never seen a time-- can you remember a time in your lifetime when a major political party was just sitting around, begging for America to fail?" read more..

GOP BEGGING AMERICA TO FAIL?

This is funny coming from the man who as president recklessly mandated the nation's worst and greatest housing bubble (to artificially stimulate robust home ownership growth mostly for the poor*); and by doing so set in motion the train of events that ended in the catastrophic housing/credit crash of 2008-from which our struggling economy hasn't fully recovered.

*It was Clinton's Social Justice War On Poverty by other means.

Hillary 2016? Don't count on it if she should run. Once the public learns the central role played by her husband in causing the Great Recession and housing crash (he was the fountainhead) her chances of succeeding Obama as president will greatly, greatly shrink. 

POSTSCRIPT

 BILL CLINTON'S ERA OF MORTGAGES FOR EVERYONE

  The bad, destructive, corrosive seed of the "Mortgages for Everyone Era" that ended in catastrophe with trillions lost was planted by Bill Clinton and his reckless, progressive, leftwing goal of subprime loaning a flat, stagnant housing market into booming, rip roaring activity in just a few short years (primarily to benefit the poor). And Clinton succeeded beyond his wildest dreams which turned into the nightmare of Lehman Brothers, failing banks, and trillions lost in the 08 market crash.

 Indeed, what was a stagnant market when Clinton took office in 1993 (the home ownership rate was at 64% unchanged  for many years) was growing by 10% by 2000 when the dot.com bubble burst and the market crashed. It was then (with a soaring market at 68%) that events took an ominous turn making the Clinton Housing/Credit Debacle inevitable; for investors (turned off to stocks) jumped aboard Clinton's subprime loan driven phony real estate boom growing the bubble to catastrophic (not seen before) proportions that ended in ruin. 

Indeed, the bad seed that Clinton sowed was watered by Fannie, Freddie (they guaranteed how many millions of risky loans at the prompting of Andew Cuomo?) Barney Frank, Chris Dodd, Kit Bond, Alan Greenspan and Ben Bernanke (who denied in 2006 there was a housing bubble)-then Goldman Sachs, Lehmans and others got into the act bundling billions of junk loans that received AAA ratings because of backing from the GSEs. In short, the crash began with Clinton and his well-meaning but crackpot social justice scheme of affordable housing for all by corrupting the mortgage industry like never before. it's beyond dispute that if Clinton hadn't been president the housing/credit crash would not have happened; and Barack Hussein Obama (one of our worst presidents ever) might have stayed in the US Senate where he belonged.

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 Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon: Gretchen Morgenson 

 

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22 thoughts on “BILL CLINTON: THE HOUSING BUBBLE KING OF ALL TIME

  1. What bs. The crash occured under Bush. it was his crash, not Clinton’s. As i recall Bush’s “Home Ownership Society” program was responsible for it, and greedy Wall Street Republican banksters and their derivatives. Not anything Clinton did in the 90s.

    HILLARY 2016! UNSTOPPABLE!

    1. Oh I see, What started under Clinton, and ended up failing under Bush, was Bush’s fault. but everything that has happened under Obama is also Bush’s fault?
      Stupid!!
      And you ain’t seen nothin’ yet if Obama care stays in place, and it will collapse under it’s own weight, under another president’s watch. Whose fault will that be?
      But by then, America will be broke, that’s B-R-O-K-E !!! According to plan. Who will you cry to then?

  2. Food for thought. If Hillary goes for the White House and runs on her husband’s economic record this could neutralize it.

    1. She has built a pretty good record for herself. Remember Benghazi?
      And doing everything but lick Obama’s boots. I do believe she has sealed her own fate.

  3. Anyone who looks back fondly at the Clinton era because his economic record looks good ought to have his head examined. Housing bubble Bill was a catastrophe; and Hill would be just as bad.

  4. Quite right, Apollo. Bubba fathered the Great Recession by super-inflating the housing market. Right, if Gore and Kerry were president they wouldn’t have stopped it. So much for it being Bush’s fault.

  5. Though it’s debatable Clinton signing two financial deregulation bills (legalizing interstate banking in 1994 and commercial/investment banking combinations in 1999) may have contributed to the meltdown.

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  6. And let’s not forget Jimmy Carter’s role in the crash. In forcing banks to make loans to the poor (despite insufficient income and bad credit) he was expanding Carter’s Community Reinvestment Act. In fact Clinton put the CRA on steroids

    1. Also, if you are hoping to rid yourself of Obama Care, it will stay in place with Hillary. It was something she tried to pass while Bill was president. She will be Obama all over again on most things. She is a far left lesbian with delusions of grandeur.

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  8. A real eye-opener Apollo. The country needs to know about this if old bag Hill runs for pres-which I doubt.

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  10. Bubba got rid of the Glass Stegal Act which had separated banking from the stock market and the ins. industry. The bubble could not happen under the protection of the G/S Act He laid the way for the corruption that occurred in the lending and mortgage markets.. Anything the government insures will be corrupted by the ilk of corrupt politicians aided and abetted by criminals in the financial industry.. Then Obama put Dodd and Frank in charge of the subprime henhouse. Now we have Bubba prostituting his wife by having her solicit funds all over the world as a so called secy of state when in reality she was collecting billions for the recoronation of Bubba and Kilary together again on Air force One for another 8 years in the Whitehouse. Fire up the Viagra producing companies for the sexually addicted First Man as he wanders about the Whitehouse looking for another young victim.

  11. If Hillary plans on running on billy’s economic record that’s a joke in itself. He trashed our economy we’re still living through his HOUSING BUBBLE and economic meltdown. Plus, all his talk about reducing the deficit was a massive lie, he left Bush with a RECESSION first month out the gate in the form of his DOT COM BUST followed 9 months later by 9/11 (which if you remember Clinton did nothing about in 1993 he claimed it was NOT a terrorist act).

    1. Very true. If Gore was President he would have inherited Clinton’s recession, housing bubble and weakened national security system; and would have suffered the same fate as George Bush with 9/11 and the great market crash of 08.

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