Gramm-Leach-Bliley
"Democrats largely supported it at the time, and one of their own, Bill Clinton, signed it. Now they frame it as a Republican bill that helped send the nation on the path to perdition."Even Bill Clinton has been interviewed recently as saying it was a good idea, and of course, he could have vetoed it. So why do we let the Democrats get away with saying it is the Republicans and deregulation's fault? Here's what happened.
- Modernized the rules, says IBD.
The mistakes had nothing to do with the 1999 law.
Pumping up home ownership was good for business and good for the politicians--all of them.
A new multitrillion-dollar market emerged
And what happened from there to cause the collapse needs to be investigated.
Posts
4 comments:
I see they are starting to frog step the CEOs to perform and be humiliated in front of Congress. Making obscene amounts of money is not illegal, but congress taking money from them is.
Maybe they should. AIG is still partying. Orange Co. watchdog
Not to mention Lehman brothers handing out huge (by my standards) amounts of money to top executives even when they knew the company was falling apart.
Again, making bundles of money gambling, inventing, acting, singing, playing basketball or CEO-ing is not illegal. This is a country built on capitalism, not socialism (yet). Congressmen taking money or sex or both (Barney) from them to influence regulations and laws clearly is.
Post a Comment