Quote:
Originally Posted by ila
That's the answer that I was looking for. I would think, though, that the financial collapse was the result of policies put into effect long before either Bush Jr took office. I would also suggest that no administration did anything to correct those policies.
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The deregulation of the financial markets began, in earnest, with the repeal of provisions of the Glass?Steagall Act via the Gramm?Leach?Bliley Act in 1999. Clinton was president. Bush Jr. accelerated the process. This is why I continue to make the point that both major parties -- which serve the interests of the monied class -- are the political architects of the current situation. Obama brought into his administration the very people who started all this crap under Clinton, including Lawrence Summers.
01-05-2012
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