The Dow's 31% gain during Trump's first year is the best since FDR

You’re kidding right ?? These events in Kansas took place in the Obama years.

 

I totally get it. You don't need to keep driving this point home. You agree with me that President Trump is very responsible for the recent growth in the stock market.

 

Congress let that all happen.

 

You're not listening. The government did not make banks create a product where they were hid their bad loans, and sold them to customers who did not know. And GWB had 6 years to stop that, and did nothing.

They knew during the GWB years,.. and than you still blame the democrats? This is just nuts.
GWB was in charge. And he did nothing.

 

The gop was in the majority in the house of representatives during the entire time of GWB, and had the majority for 4 years in the senate. So that's not "really" true.

I sourced that 4 banks were closed by the US government. That them going bust.

 

read post 330

 

Read post #272

 

The idea that a President has much to do with the economy (or the stock market) in his first year in office is patent nonsense. No self respecting economist would make such a silly claim.

The second point is that when Obama stepped into office the Dow was 6500. After 1 year it was 10500.

4000/6500 = 62% increase in his first year.

Clearly you have been fed nonsense from more than one angle.

 

I am listening. The banks hid bad loans that were Clinton/CRA mandated. If Clinton hadn't mandated that loans be given to borrowers who weren't really qualified, there wouldn't have been a massive number of bad loans to package. Bad Clinton/CRA policy = Bad Loans. Go back to post #272. It was explained to you that the Bush Administration called these loans out as a problem. The Democrats blocked any proposed reform. Bush tried. Why do you keep saying GWB did nothing??

 

I replied to that in post 330.

 

The D’s blocked the attempt to reform Fannie and Freddie.

It was the Clinton administration which initiated via their interpretation of the CRA and requirement that Fannie and Freddie issue mortgages to low income people which reduced lending standards.

 

There was no compulsion in hiding loans in such a way that nobody knew what how high the risk of the product was. That is what the banks did on their own. GWB knew it, did nothing.

 

It’s absolutely true. Franks and Dodd blocked in 2007 after the D’s held up the legislation in Congress.

The banks were bought out. That happens every year. The real tragedy is how Dodd-Frank has reduced the number of community banks which lend to small businesses.

 

Fannie and Freddie did that and the rating agencies rated them AAA.

 

When it happens,



Blame Wall St.
Not Trump​

 

During GWB's time, the reps had both houses even at one point. So that's where he failed miserabele.

 

No you didn't.

 

The GOP controlled both houses for 4 years, and GWB did nothing.

I sourced that 4 banks got closed down by the government, and than got sold.
That does not happen every year. That is how the subprime mortgage crisis went.
Exceptionally dishonest of you to deny this.[/QUOTE]

 

I did. You're just ignoring it because that serves your agenda.

 

Totally irrelevant to what I wrote. Clinton simply never made banks to hide their bad loans in other products. GWB knew. He had both houses, didn't do anything. Obama cleaned it all up. Trump made his economic program at the end of last year. So this all is Obama's way of running the country.

And with Trump,.. with just 1 month in with his new plan, he already ran out of money.
Some plan that is.

 

You didn't say anything that could be considered a rebuttal to post 272.

 

The D’s did nothing to reform Freddie and Fannie. Franks blocked any reform.

 

I’ve explained all this multiple times and provided sources. Banks consolidate every year. Dodd-Frank has resulted in many more of this than the financial crisis which was over in 2009.

 

It says "In 2005, Fed chief Alan Greenspan sounded the most serious warning of all: "We are placing the total financial system of the future at a substantial risk" by doing nothing"

That is where GWB had both houses... and did nothing. I said this before.

 

What you wrote is totally irrelevant to the financial crisis. Obama’s policies cleaned nothing up and resulted in very low economic growth.

Trump ran out of money ?? That’s absurd.