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No I don't, but in 1994 the Republicans became the majority party in both the House and the Senate. This continued through Clinton's administration and into W's.
Actually, Bill Clinton repealed a part of the Glass-Stegall Act which FDR put into effect as part of the New Deal which was legislation that separated commercial and investment banking.
Clinton not only repealed the act Roosevelt had put in place to curb those practices, but was persuaded to make this change by lobbyist from Citigroup.
This New York Times article from 2007 points out the risks that were being taken and specifically sites the deregulation -- that took place in 1999.
The title is "Goldman Runs Risks, Reaps Rewards"....
The Republican motto since Ronald Raygun taught them about Hollywood, has been to privatize gains, socialize debt and never tax what you can borrow. He also taught the Republicans that appearance is far more important than policy in winning elections. Even Bill Clinton realized that as he sold Republican policies while appearing to be a Democrat.
The Dems are likely to loose this election if they continue to stress policy over appearance. McCain is the HERO that will save us from the Evil World while Obama is just talking about how to solve real problems instead of appearing as superman.
The Dems are likely to loose this election if they continue to stress policy over appearance. McCain is the HERO that will save us from the Evil World while Obama is just talking about how to solve real problems instead of appearing as superman.
"Sell the sizzle, not the meat."
Sad.. the American public is so brainwashed by marketing that they don't look at the reality anymore.
“I introduced legislation to reign in these mortgage giants over five years ago, but was fought every step of the way by their executives, lobbyists, and liberals like Chuck Schumer who stood in the way of a tough bill. Fannie and Freddie were allowed to grow too quickly and for too long without the strong oversight required of such government chartered firms."
SUNUNU STATEMENT ON UNITED STATES GOVERNMENT TAKEOVER OF FANNIE MAE AND FREDDIE MAC | Politicker NH (http://www.politickernh.com/brianlawson/3417/sununu-statement-united-states-government-takeover-fannie-mae-and-freddie-mac - broken link)
Our current mess probably came from people getting loans that were not responsible enough to pay for them, but the governments mess started with the first time an unnecessary item was purchased on credit by our government. These members of congress remind me of my children when they were smaller and we went shopping. I would tell them that we cannot afford to buy something because I didn't have the money. My children would say, "You can write a check." Well one should not go around writing checks when there is no money in the bank. And you don't go charging for unnecessary things. And you don't give money to people you don't have. I would have been bankrupt years ago if I had lived like this.
Now what are all those nations we have helped for years doing to help us?
Our current mess probably came from people getting loans that were not responsible enough to pay for them, but the governments mess started with the first time an unnecessary item was purchased on credit by our government. These members of congress remind me of my children when they were smaller and we went shopping. I would tell them that we cannot afford to buy something because I didn't have the money. My children would say, "You can write a check." Well one should not go around writing checks when there is no money in the bank. And you don't go charging for unnecessary things. And you don't give money to people you don't have. I would have been bankrupt years ago if I had lived like this.
Yes. But, it couldn't have happened if certain laws had not been repealed.
The specific act that Clinton repealed was put into effect to protect citizens from the greed of bankers....
Yes. But, it couldn't have happened if certain laws had not been repealed.
The specific act that Clinton repealed was put into effect to protect citizens from banking greed.... keeping them from being involved in investments.
And it was also a way to allow more poor, low-income, and people with bad credit to get mortgages.
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sell the sizzle, not the meat
