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We'd all be SO much better off today if Clinton would have vetoed the Republican Gramm-Leach-Bliley Act back in 1999, avoiding the deregulation that allowed Wall St to pay themselves outrageous bonuses while concentrating risk and "developing" ever more bogus investments that eventually crashed the economy.
Deregulation, the mantra promoted by the Republicans since the 1980s is behind the 2008 economic meltdown. After numerous bank failures during the Great Depression, the Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) and introduced banking reforms like separation of banking and other financial companies. The 1999 Gramm-Leach-Bliley Act repealed part of the Glass-Steagall Act of 1933, allowing a bank to offer investment, commercial banking, and insurance services. The 1999 Gramm-Leach-Bliley Act allowed firms like Citigroup and Bank of America to offer investment and insurance services apart from banking after their acquisition and merger with other financial firms which would have been illegal before.
Agreed. This has become like a totalitarian state, in which the White House spews out lies that "all is well" while the media lap dogs print this drivel. Everyone knows otherwise. I am sure that North Korea probably paints the same rosy economic picture to all of their citizens. It is like some weird "1984" world in which "Big Brother" changes the "facts" every month through the "Ministry of Truth".
The unemployment rate has now been lowered to the level it was when President Obama took office. lols. Great job Dems.
We still need to add millions and millions of jobs to be at full employment.
The "recovery" does not exist.
People that act like 8% unemployment is great news are delusional. It hovered around 5% when Clinton and Bush were Presidents. Of course, Obama's economic "ideas" are a 180 from those guys.
Agreed. This has become like a totalitarian state, in which the White House spews out lies that "all is well" while the media lap dogs print this drivel. Everyone knows otherwise. I am sure that North Korea probably paints the same rosy economic picture to all of their citizens. It is like some weird "1984" world in which "Big Brother" changes the "facts" every month through the "Ministry of Truth".
If I remember correctly Pravda always claimed every Soviet had a job. They never had a problem with drugs either. And AIDS didn't get there until after the Wall came down. Amazing.
The unemployment rate has now been lowered to the level it was when President Obama took office. lols. Great job Dems.
We still need to add millions and millions of jobs to be at full employment.
The "recovery" does not exist.
People that act like 8% unemployment is great news are delusional. It hovered around 5% when Clinton and Bush were Presidents. Of course, Obama's economic "ideas" are a 180 from those guys.
It really depends. Define "recovery" ....
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