Isn't it accurate that the thrust was really started in 95 under Clinton by Barney Frank & Sen Cuomo? They were pushing the story that everyone had the right to homeownership. Barney Frank was head of the oversight on this as well.
On Oct 24, 5:08 am, studio <[EMAIL PROTECTED]> wrote: > On Oct 24, 1:40 am, Zebnick <[EMAIL PROTECTED]> wrote: > > > You don't know what you're talking about. If you think you do, > > identify what was deregulated and how, specifically, it caused the > > mortgage meltdown. > > Give me a break. > Look, if you have a deregulated quasi-government agency handling a > trillion dollars...it begs for trouble. > > Any competent analyst coud have told you from the beginning such > a thing won't work in the long term without being highly regulated. > > But it's worse than that...they knew it wouldn't work. > So who gets manipulated like a puppet by both major parties? > Everyone. > --- > > The 1999 Gramm-Leach-Bliley Act broke down barriers between banks, > securities firms, mortgage lenders and insurance companies. > That deregulation repealed Great Depression-era bank regulations with > the approval of former president Bill Clinton. > > Robert Rubin and Larry Summers, former U.S. Treasury secretaries > under Clinton, supported the bank deregulation bill in 1999. > > McCain voted for the first version of the Gramm bill in 1999 but did > not vote on the final measure. Biden voted against the initial bill > but > for the final product. > > http://www.bizjournals.com/phoenix/stories/2008/09/15/daily81.html > ---- > > You know things are very very bad on Wall Street when a guy like > Henry Paulson -- Treasury secretary, solid Republican, and former > Goldman Sachs CEO -- joins the crowd calling for more regulation > over the financial markets. > > "Regulation needs to catch up with innovation," Paulson said, and > he was backed up by the rest of President Bush's working group > on financial markets, including Federal Reserve Chairman Ben > Bernanke and Securities and Exchange Commissioner Chris Cox. > Not a commie among them. > > http://www.marketwatch.com/news/story/paulsons-lament-deregulation-ha...{4AEF15AC-3966-4656-8108-C96712A88D68} --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
