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Jimmy Carter's ghost stalks Obama White House
Take back the Senate in 2014
Re: Jimmy Carter's ghost stalks Obama White House
Repeating over and over again Reagan=good, Carter=bad doesn't make it any more true.
How so?
Cnon
That's just to start with. I can go on if you'd like.
Cnon
ITA with everything above..................Long live cincychick35
Cnon
Not that FOX News ever let facts get in the way of a headline.
Carter was real about the energy crisis. Reagan refused to acknowledge there was such a crisis. In general, what irks me most about reaganomics is this notion that government is the enemy because it gets in the way. Government is not the enemy (it's also not the be all end all of solutions) but it is a necessary piece of the puzzle. Private enterprises only go so far. Just ask victims of Sandy or Katrina.
Let me address the second bolded point first: Bullshit. I am so sick of this piece of crap talking point that Republicans love to regurgitate. The CRA has no provisions whatsoever to force companies to loan money to anyone and it specifically DISCOURAGES lending practices that aren't safe or sound.
You know why mortgage lenders like to lend to people who can't afford it? Because they charge them a higher interest and make more money - and so did the Wall Street bond sellers who were begging for even more bundled junk mortgages because they paid higher interest.. NONE of this arose from the CRA, it arose from good old fashioned greed, and most of it came from companies like Countrywide, not CRA banks.
The CRA mandates no penalties for non compliance. So how is it forcing anyone to do anything? Moreover, reviews have shown that a lot of sub prime loans should have never been subprime at all - they were written for people who qualified for conventional terms but minorities were more often automatically pushed to subprime products, so unfortunately the CRA wasn't completely successful in eliminating discrimination in lending although it went a long way towards ending redlining.
Yeah, I'm going to cite Wiki, but it's getting really late and it's just too darn convenient. "In the February 2008 House hearing, law professor Michael S. Barr, a Treasury Department official under President Clinton,[63][128] stated that a Federal Reserve survey showed that affected institutions considered CRA loans profitable and not overly risky. He noted that approximately 50% of the subprime loans were made by independent mortgage companies that were not regulated by the CRA, and another 25% to 30% came from only partially CRA regulated bank subsidiaries and affiliates. According to Janet L. Yellen, President of the Federal Reserve Bank of San Francisco, independent mortgage companies made risky "high-priced loans" at more than twice the rate of the banks and thrifts; most CRA loans were responsibly made, and were not the higher-priced loans that have contributed to the current crisis.[130]A 2008 study by Traiger & Hinckley LLP, a law firm that counsels financial institutions on CRA compliance, found that CRA regulated institutions were less likely to make subprime loans, and when they did the interest rates were lower. CRA banks were also half as likely to resell the loans.[131] Emre Ergungor of the Federal Reserve Bank of Cleveland found that there was no statistical difference in foreclosure rates between regulated and less-regulated banks, although a local bank presence resulted in fewer foreclosures.[132]"
As to Reagan "bluffing" about Star Wars, that's neat revisionism. You were probably in diapers then, but I was in college. Reagan wasn't bluffing, he really, really wanted and believed in SDI. So much so, that he offered to give it to Gorbachev so that there wouldn't be an imbalance. So how is that winning the Cold War? What really sucks about the revisionism is that we lose the real lessons of how the Cold War was lost and it's really important to remember. The Soviet Union spread itself too thin, with a long war in Afghanistan, trying to quell revolts in various places and spending billions they didn't have on arms while the bread shelves were empty and people got fed up. So yeah, that lesson, I'm not sure whether Reagan understood it or not. Maybe he did, because we never got in a war, but he sure seemed to be spoiling for one, and he sure believed no amount was too great to spend on defense - while vilifying the fictional welfare queen repeatedly in his speeches. I never considered him a unifying force, it was always very much "us vs them" with him. You simply cannot defend Iran Contra, probably the worst criminal act of any president ever, except the Gulf of Tonkin lie. And quite honestly, he was quite senile for much of his second term. Read Lou Cannon's book on Reagan; good Lord, either the man was a really good liar or he had no idea whatsoever what was going on all around him.
So, did Ronald Reagan bring on the end of the Cold War? Well, yes. Recently declassified documents leave no doubt about the matter. But how did he accomplish it? Through hostile rhetoric and a massive arms buildup, which the Soviets knew they couldn't match, as Reagan's conservative champions contend? Or through a second-term conversion to detente and disarmament, as some liberal historians, including Slate's David Greenberg, argue?
This is an uncomfortable position for an opinion columnist (and occasional Cold War historian) to take, but it turns out that both views have their merits; neither position by itself gets at the truth. Reagan the well-known superhawk and Reagan the lesser-known nuclear abolitionist are both responsible for the end of that era—along with his vital collaborator Mikhail Gorbachev.
http://www.slate.com/articles/news_and_politics/war_stories/2004/06/ron_and_mikhails_excellent_adventure.single.html
". But how did he accomplish it? Through hostile rhetoric and a massive arms buildup,"
So the only forcing acting on the Soviet Union was the US? Not Poland, not Czechoslovakia, or Yugoslavia to the Afghanistan war they were embroiled in?
Typical of us to think the world revolves around us.
BUT if the arms race did in the Soviet Union, why would any sane person want to follow their example? Didn't they lay it out for us? You can't be involved in multiple wars and an arms race and expect to flourish. I don't think we learned the lesson we supposedly taught them!