Govt to the Rescue

[EvilEyeFleegle]

Get info you little pip squeak

25 People to Blame for the Financial Crisis - TIME

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...

content.time.com

From your link---

..It is the subject of heated political and scholarly debate whether any of these moves are to blame for our troubles, but they certainly played a role in creating a permissive lending environment.


I can buy that--as a contributing factor.

But it was the banks and Brokers that took advantage.The brokers building up the bubble and then selling short and the Banks lending far more than they had on hand to cover their fiduciary responsibilities to their depositors--in turn they put pressure onto their lendees--who foreclosed as the economy tanked.

 

[Smokin' OP]

Get info you little pip squeak

25 People to Blame for the Financial Crisis - TIME

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...

content.time.com

WTF?
WOW.

"Oh BS it was about Clinton and his Community Reinvestment Act".

WTF?
It wasn't Clinton, moron.
That was CARTER.

Now, from your "link".
President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation.

ALL republicans.
Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia),

He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.

WTF? Again.
It wasn't Clinton.

The CFMA continued an existing 1992 preemption of state laws enacted in the Futures Trading Practices Act of 1992 which prevented the law from treating eligible OTC derivatives transactions as gambling or otherwise illegal.[8] It also extended that preemption to security-based derivatives that had previously been excluded from the CEA and its preemption of state law.

Who was president?

 

[Smokin' OP]

Funny doesn't change anything, Clinton weaponized the act, Bush warned Congress things were going to implode and guess what, they did

Good gawd this is taught in economics

WTF?
Not only "sassy" but looney too.

Bush signed into law the American Dream Downpayment Act of 2003.

This legislation complements the President's aggressive housing agenda announced in 2002 to dismantle the barriers to homeownership. Today, the Department of Housing and Urban Development (HUD) and the Census Bureau released data showing that new home construction in November reached its highest level in nearly 20 years.

The biggest barrier to homeownership is often accumulating funds for a down payment. In June 2002, President Bush proposed the American Dream Downpayment Fund to help low-income families take much-needed steps to own a home of their own, and announced the goal of increasing the number of minority homeowners by at least 5.5 million before the end of the decade.

President Bush's aggressive housing agenda to dismantle the barriers to homeownership includes providing down payment assistance through the American Dream Downpayment Fund; increasing the supply of affordable homes through the Single-Family Affordable Housing Tax Credit; increasing support for self-help homeownership programs like Habitat for Humanity; simplifying the home-buying process; and increasing home-buying education.