See how you think? When told Clinton used his power to cause the unfit to be able to by homes, you say hell no. Then you speak up for regulation. Don't deny what Clinton did when you can google as I did to find out why those junk loans came about.
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...
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Blameworthy
Bill Clinton
Photo Illustration; Clinton: Saul Loeb / AFP / Getty; Jupiter
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 Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. 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. 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.