Truthmatters
Diamond Member
- May 10, 2007
- 80,182
- 2,272
- 1,283
- Banned
- #21
And in those years we had Glass Steagal which protected us against these markets getting overheated and creating a depression.
Now that its gone it turned into this mess instead of being just a recession.
Elizabeth Warren is overseeing the TARP funds. She explained it best on the Daily Show.
Before the Great Depression, our economy went like a roller coaster ride every 10 years. (Good luck with this if you have a 401K). So they put in Regulations and we had a good 50 years of slow steady growth, but no crashes or major problems. Then Reagan got in, and he removed regulations, and then the S&L collapse of the 80's came and then we find out Enron is cooking the books in 2001 until the entire thing collapsed.
She's not giving you an opinion. She's telling you the facts on what happened. And she explained it like any moron could understand.
So truth, why don't these moron's get it?
I think Glass-Segal was repealed during the Clinton administration, with bi-partisan support of both parties.
Yes it was , it had been hacked at for years and then finnaly killed by Gramm leach Bliely act 1999 which Phil Gramm worked on hard for years. Clinton then signed it and is an asshole for doing so. Every Dem who voted for it is an asshole and got duped and or bought by the lending industry.
Now look who is fighting any kind of new regulations.
those will be the people you dont wnat to vote for no matter what party they are a part of.
Deregulation has been the baby of the republican party for decades and every time they win in getting it passed we get fucked.