Credit crisis building in time to hurt GOP in elections

[Liberal_in_LA]

(If the credit crisis is still bubbling thru the economy November 2008 I think the republican party will suffer major losses. This story is huge)

http://www.latimes.com/news/politics/la-na-creditpol22aug22,0,7895568.story?coll=la-home-center
Credit crisis a GOP worry

The credit crisis compounds Republicans' political troubles from the Iraq war. It may bolster Democrats' calls for new regulations.
By Peter G. Gosselin August 22, 2007

The credit crisis that has hit home mortgages and shaken worldwide financial markets is turning into a political albatross for President Bush and Republican presidential contenders, piling atop an unpopular war in Iraq and eroding traditional GOP claims of being good stewards of the economy.

(**** SNIP****)

But the credit upheaval and the shock waves it sent throughout the economy have changed the political climate. In the most recent Gallup poll, taken last week, 72% of Americans said the economy was "getting worse." That was the most pessimistic showing since Gallup began asking the question in the early 1990s and comparable only to the 71% recorded in January 1992, when unhappiness with the economy was credited with helping Bill Clinton win the presidency later that year.

http://www.latimes.com/news/politics/la-na-creditpol22aug22,0,7895568.story?coll=la-home-center

[SeattleGirl]

1. I hope it DOES hurt them, since they are behind so many of the

new laws that helped bring this about.

Serves 'em right! :grr: :grr: :grr:

[David__77]

2. Emergency financial regulation is needed.

The whole edifice of home finance needs to be overhauled once again. The Democrats are not blameless though. The tax provisions passed in the 90's certainly increased speculative activity in the housing market. We need to curtail such activity, and keep home ownership as a solid foundation in the society.

[Skittles]

3. those bastards cannot tout that "home ownership" crap

f***ing assholes

[fasttense]

4. When the Republicons caused the Great Depression

they did the same thing to fix it - nothing.

"Standing on the sidelines when people think there's a problem that could spread certainly is not a politically comfortable place to be," he said."

It is more than just standing on the sidelines. It is doing nothing about a huge problem they caused. It is merely giving a handout to the corporations and financiers while letting the middle class and poor suffer the results of the mistakes. Seems to me, Hoover did the same thing when the Great Depression started. A Democratic President is all but guaranteed for 2008, no matter how many bailouts the bushes give to their high financing friends.

[ayeshahaqqiqa]

5. Remind voters the GOP was behind the new bankruptsy legislation

And have them think back to the Clinton years and the Clinton economy for comparison.

Of course, the GOP plan may be to make a majority of voters homeless by repossessing their homes, thereby effectively taking them off voting rolls.....

[OzarkDem]

6. Good opportunity for Dems in Congress

to develop a plan that shows voters they know how to deal w/ the problem and turn the economy around.

The party has a lot of talent available who could put a plan together.