Four Years Under Obama Wipes Away 30 Years of Black American Gains Read more on News

Discussion in 'Politics, Religion, Social Issues' started by tshrimp, Oct 10, 2012.

  1. tshrimp thread starter macrumors 6502

    tshrimp

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    #3
    I admit I have never heard of this website, but their source looks to be Chicago Tribune.
     
  2. rdowns macrumors Penryn

    rdowns

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  3. iJohnHenry macrumors P6

    iJohnHenry

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  4. hulugu macrumors 68000

    hulugu

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    #6
    For future reference, Newsmax is a total hack site that has aggregated content from the Chicago Tribune. It is fundamentally useless as a source for information directly.

    Also, of note from the article:

    More...

    In other words, Newsmax completely misrepresented the story and argued that the Obama administration's policies erased these gains, but what actually happened was the collapse of the manufacturing industry under Bush and predatory home loans, a situation created by Republicans when they signed into law the Gramm–Leach–Bliley Act.
     
  5. astrorider macrumors 6502

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    #7
    FYI, Bill Clinton signed Gramm–Leach–Bliley.
     
  6. hulugu, Oct 10, 2012
    Last edited: Oct 10, 2012

    hulugu macrumors 68000

    hulugu

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    #8
    Yes, thank you, I know who was president at the time and how a bill becomes a law. However, the bill was sponsored by three Republicans and voted into law by Republicans. That the president signed it doesn't absolve them, rather it draws him in the mire along with them. Nice try to deflect though.

    The repeal of Glass-Steagall was a huge mistake.
     
  7. astrorider macrumors 6502

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    #9
    I'm not trying to deflect. You said "a situation created by Republicans when they signed into law". Clinton signed it into law.

    Regardless of the merits, or lack thereof, of Gramm-Leach-Billey, you're obviously intent on pointing the finger of blame at Republicans; I'm just having a hard time seeing it that way.

    This isn't like the Stimulus bill or Obamacare, it was very bi-partisan; Gramm-Leach-Billey passed by the Senate 90-8 and by the House 362-57 But please continue blaming Republicans if it makes you feel better.
     
  8. Vanilla Ice macrumors 6502

    Vanilla Ice

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    #10
    Those damn Republicans ;)
     
  9. Thomas Veil macrumors 68020

    Thomas Veil

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    #11
    The Newsmax article is apparently a biased reframing of this article which appeared in the Tribune.

    Note the different headlines:

    Newsmax:
    Four Years Under Obama Wipes Away 30 Years of Black American Gains

    Chicago Tribune:
    Black middle class economically vulnerable
    Downturn has wiped out gains of last 30 years, Urban League says

    The Newsmax headline attempts to frame the article in terms of Obama's policies, whereas the Trib headline and article concentrate on the recession.

    Typically dishonest of Newsmax.

    One more time.
     
  10. hulugu macrumors 68000

    hulugu

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    #12
    You're correct, I should have written voted.

    A bill sponsored in both houses by Republicans and voted yes on by all but one Republican in the Senate and five in the House is a Republican bill. Again, pointing this out doesn't make the Democrats a bunch of innocents, but the Republican party is culpable for this mess.

    You keep missing the point, it's bipartisan nature doesn't absolve the Republicans, it implicates the Democrats in addition. My point stands.
     
  11. anonymouslurker macrumors regular

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    #13
    It sure seems like you're focused on blaming only one party...
     
  12. hulugu macrumors 68000

    hulugu

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    #14
    Let's put it this way, when Dr. Evil steals Austin Powers mojo, do we say Dr. Evil and Fat Bastard stole Powers' mojo? No, it was Dr. Evil. Fat Bastard was his man inside and even helped knockout the guards, but Dr. Evil actually did it.
     
  13. VulchR macrumors 68020

    VulchR

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    #15
    Well, to the extent the Democrats were responsible, they seemed to have learned their lesson. The Republicans, on the other hand, want to go down that road even further, which too me indicates an unfounded faith in deregulation and the private sector. Gamblers do the same irrational thing – they chase losses.
     

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