Help convince my friend BUSH is resposible for the stock market

[adoraz]

My friend, a Republican, is a big investor. Obviously, he is not at all happy with the way things are going.

He normally votes Republican due to the stock market. I have been trying to convince him Bush has been responsible, but he doesn't believe so. He thinks it is something that just happens due to inflation every couple decades, and the President doesn't have much control over it.

This could easily impact his vote. Please help me to convince him McCain would be awful for stocks!

Honestly, I don't know too much about this issue, which is why I want to ask here first.

[kikiek]

1. De regulation. Look up McCain's votes. Too little too late for McCain.

[nadinbrzezinski]

2. Find what Greenspan said about this

the worst crisis in a hundred years. This is not a normal downturn

And it is due to deregulation

[AlCzervik]

5. and Greenspan has a big role in this as well, no one loved shitty mortgages more than him.

http://www.marketwatch.com/news/story/deregulation-saved-america-greenspan-says/story.aspx?guid=%7BF914346C-EBEF-4EF0-BA60-F1E9AB783508%7D

"New financial products have enabled risk to be dispersed more effectively to those willing, and presumably able, to bear it," he said. "Shocks to the overall economic system are accordingly less likely to create cascading credit failure."

ayup.

[nadinbrzezinski]

6. I know, bless his heart, hie lived long enough to see the result of his handiwork

I hope the a-hole can sleep at night

[AlCzervik]

10. and now he has the cajones to come out and actually speak? He really needs to

crawl back into his turtle shell and STFU. I get so mad when i see him on tv.

[nadinbrzezinski]

13. But he could be priceless with folks like the one the OP referred to

he has his uses... as few as they are

[Bluebear]

3. "He normally votes Republican due to the stock market."

[adoraz]

7. awesome chart! I will send that to him asap

[Lefty48197]

4. If he knows what he's doing, then he KNOWS that the DJIA goes UP more under DEMS than REPS

I don't have time to look up a link but it's a fact. You can look it up.

[adoraz]

9. I don't think he really does

he is pretty young, and doesn't know much about the history of the stock market. He just assumes some things.

He thinks because Republicans are big business, they are best for the stock market.

[Lefty48197]

14. I found my source:

It's post #3 directly above mine.

[Median Democrat]

8. Deregulation +Greenspan's Easy Money Policy + Inaction On Energy

Any growth under Bush was purely due to the mortgage industry abuses, which lead Americans to use their homes as piggy banks.

[Motown_Johnny]

11. Everything Bush has deregulated has been a disaster, Energy.. Telecoms.. you name it

[adoraz]

12. oh, one of his talking points

that he heard from a friend-

It is the fault of the liberal congress.

[Bluebear]

15. Check out this thread too

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4024532&mesg_id=4024532

[ljm2002]

16. PHIL GRAMM...

...the chief economic advisor to John McCain's campaign, was the principal author of the GRAMM-LEACH-BLILEY ACT, that de-regulated the financial industry and rolled back protections that have been in place since the New Deal.

That is the root of the present crisis.

And yes, Bush would have been on that side of the fence, had he been in Congress at the time.

[benevolente]

17. Of course. Bush advocates de-regulation

And de-regulation is one key element that has encouraged CEO's to do whatever they want because they know they will be bailed out by Bush and his cronies. Bush is in great part to blame for all this mess.