INDECENT, IMMORAL CLAIMS
OF ROMNEY-RYAN TICKET
|Republican standard bearer Mitt Romney|
By BERTENI "TOTO" CATALUÑA CAUSING
I am just wondering how Romney-Ryan ticket can have moral ascendancy to claim they will fix the economy that was wrecked almost irreversibly by the Bush Republican team.
It was the Republicans who allowed big American companies to relocate factories in China, causing a lot of unemployment that started the massive defaults of housing loans across all the states. These housing loan defaults sparked the collapse of the Wall Street economy because the stocks converted from housing loans turned out to be “empty checks.”
Those housing-loans-backed securities were designed by the Bush financial experts. They relied on the presumption that these housing loans would be paid when due falls. So that they thought that it is a good source of stock derivatives and other forms of securities.
To win the trust of the stock traders, the Bush administration strengthened government housing agencies where these loan portfolios were processed and converted into marketable stocks. With this, many stock buyers had unassailable confidence in those securities that the buying of these kinds of stocks improved massively, attracting even all big investors from outside the USA.
Thus, the artificial economic growth was seen almost in eight years that Dubya Bush was the president. But just before Bush was to bow out of office, the fake economic growth was exposed with the big wallop by the Wall Street.
That crash occurred after housing loaners massively defaulted on debts. The defaults were caused by massive unemployment caused by the massive shipments of jobs out of the US, many of which went to China. So that when loaners had no more jobs, they failed to pay their housing loans. If loans were unpaid in a massive scale, the securities representing those housing loans were just empty checks.
To the contrary, I salute Obama for what he has done.
If there is one greatest achievement that was done by the Obama leadership in the local economy it is that it managed to keep the economy from going further down the brink.
This he did despite the uncooperative Republicans in the Congress, peopled by Republicans whose agenda from the very beginning was how to keep Obama as a one-term president only.
In the international arena, the two big feats recorded by Obama cannot be equaled: (a) Obama found and killed Osama Bin Laden in less than two years while Bush failed in his search of the No. 1 terrorist since 2001 up to the very last minute of his presidency; and (b) Obama substantially improved American's image among the Libyans when he along with France's ex-President Nicolas Sarkozy helped the rebels with air raids that crippled the forces of Muamar Gaddafi to enable the justice-seekers to win Libya.