Occupy Wall Street | Political Correction

Republicans spent their Sunday morning TV appearances blaming Democrats for the economy and trying to convince Wall Street protesters to join them in their scapegoating. Contrary to what Herman Cain and Rep. Eric Cantor (R-VA) claimed, the facts show that private firms, not government entities, inflated the subprime mortgage bubble, and Wall Street, not Democrats, turned those loans into an elaborate casino game that left the entire country on the hook for their bad bets. Similarly, Cantor and Sen. John McCain (R-AZ) were wrong to suggest that Democratic policies on taxes and regulations are hurting the economy, and that Republican proposals will do more to create jobs than President Obama's proposed American Jobs Act. In addition, Cain claimed that his "9-9-9" tax plan won't hurt the poor and implied that Obama has cut defense spending, Gov. Bobby Jindal (R-LA) blamed the credit downgrade on the president, and Sen. McCain said that Obama never spoke up on behalf of Iranian protesters in 2009. In each case, the facts disagree.

October 14, 2011 6:03 pm ET filed under Blog

Cain: "Wall Street Didn't Drive Up The Unemployment Rate To 9.1 Percent"

October 14, 2011 4:41 pm ET filed under Video

Rep. Gohmert Suggests Wall Street Protests Are Driven By Lazy Kids, Not Legitimate Gripes

From an October 14, 2011, speech by Rep. Louie Gohmert (R-TX) on the floor of the U.S. House of Representatives:

October 14, 2011 2:05 pm ET filed under Blog

Mainers Ask "What Side" Sens. Snowe And Collins Are On

October 14, 2011 1:36 pm ET filed under Foreign Policy Matters

Exploiting Anti-Semitism To Destroy Occupy Wall Street

October 14, 2011 11:47 am ET filed under Blog

House Oversights - Week of October 9

A weekly roundup of what House Republicans are and aren't doing with their committees.

October 14, 2011 10:21 am ET filed under Blog

Why Republicans Are Wrong About Wall Street And The Financial Crisis

October 14, 2011 7:28 am ET filed under Fact Check

Private Wall Street Companies Caused The Financial Crisis — Not Fannie Mae, Freddie Mac Or The Community Reinvestment Act

In the four years since the housing bubble burst, triggering a collapse in global financial markets whose value had been propped up through the repackaging and trading of home loans via complex financial instruments, there's been plenty of blame to go around. The Occupy Wall Street protests have called new attention to the root causes of the crisis, and led Republicans to reiterate their claim that government-backed lenders Fannie Mae and Freddie Mac were the primary villains. The facts about the subprime mortgage market prove that claim false: Private firms dominated the subprime market boom of 2004-06, and were not even subject to the 1977 Community Reinvestment Act some Republicans vilify. Thanks to decades of financial deregulation, capped by President Bush's decision to appoint Wall Street regulators who believed their job was to help banks rather than curb banking abuses, financial giants were able to turn the mortgage market into a high-stakes casino. As investigative reporters and Congress' Financial Crisis Inquiry Commission have all shown, it was deregulation mixed with irresponsible and potentially illegal practices by private firms on Wall Street that caused both the bubble and the collapse.

Republicans Blame The Financial Crisis On Fannie Mae, Freddie Mac, And Government Policy

Facts Show Private Lenders Who Were Not Subject To CRA, Not Government-Backed Ones Who Were, Drove The Subprime Mortgage Market

Deregulation Of Financial Markets And GOP-Appointed Absentee Regulators Paved The Way For The Subprime Bubble To Cause A Broad Collapse

"Financial Crisis Inquiry Commission" Expert Panel Found Wall Street Recklessness Caused The Crisis

Author Of Top Book On Financial Crisis Says There Is No Evidence For Blaming Either The CRA Or Fannie And Freddie

Luntz's "Occupy" Advice Reveals GOP Weaknesses — And One Major Strength

Rep. Walsh Models GOP's False Depiction Of Financial Crisis, Occupy Wall Street

How Lying About The Financial Crisis Enables The GOP's Misunderstanding Of The Occupy Movement

House Oversights - Week Of November 13

Rep. Peter King's Occupy Wall Street Victory Lap: "Bunch Of Lowlife Dirtbags"

Rep. Bachmann On The 99 Percent Movement: "I Completely Oppose Everything That They Stand For"

Rove Group Smears Warren With Caricature Of Occupy Wall Street As Violent Druggies

Rep. Darrell Issa (R-1%)

With Occupy Wall Street Attack, Issa Changes Tune On Anonymous Sources

Gov. McDonnell: Tell Wall Street "They Do Something Good Because They're Job Creators"

Rep. Steve King: Losing Culture War To Progressives Is The 'Biggest Threat' To America

UPDATED: Rep. Issa Runs With Fox's Anonymously Sourced "ACORN" Tie To Occupy Wall Street

Mitt Romney's Tax Lie And The Occupy Wall Street Movement

Warren Not Mad At "Socialist Whore" Heckler, But At Those "Pre-Packaging That Poison"

Mayor Bloomberg's False Explanation Of The Mortgage Crisis

In Canceled Speech, Rep. Cantor Planned To Miss The Point On Economic Inequality

Rep. West: Wall Street Occupiers Are Stalinist "Gangs" Of "Bad People"

Our Sharon

While Protesters Occupy Wall Street, Wall Street Occupies Congress

Rep. Gohmert: Goverment Gave Unemployed Occupy Protesters "Freedom To Live At Home"

Gov. Rick Scott Tries To Steal Occupy Wall Street's Thunder

Fact Checking The Sunday Shows - October 16, 2011

Fact Checking The Sunday Shows - October 16, 2011

Cain: "Wall Street Didn't Drive Up The Unemployment Rate To 9.1 Percent"

Rep. Gohmert Suggests Wall Street Protests Are Driven By Lazy Kids, Not Legitimate Gripes

Mainers Ask "What Side" Sens. Snowe And Collins Are On

Exploiting Anti-Semitism To Destroy Occupy Wall Street

House Oversights - Week of October 9

Why Republicans Are Wrong About Wall Street And The Financial Crisis

Private Wall Street Companies Caused The Financial Crisis — Not Fannie Mae, Freddie Mac Or The Community Reinvestment Act

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