What Did Bush Deregulate?

[Motion]

I read that the main issue with Bush on this is that he appointed Treasury Secretaries who didn't have wall street backgrounds so as a result they weren't alert to problems on wall street.

The two Treasury Secretaries I was referring to who lacked wall street experience were Paul O'Neill and John W. Snow.

[harborlady]

Originally Posted by Motion

The two Treasury Secretaries I was referring to who lacked wall street experience were Paul O'Neill and John W. Snow.

Motion sorting truth from lies as 'insiders' is nearly impossible. The only people who can be 'expert' are those who partake of the system in place. See this as the entire medical community administering poison because they were led to believe it was a cure. Who is really guilty? Who sold this cure? Who did their due dilligence in research? Where was the regulation?

"Everyone's guilty? Nobody is calling the cops"

So how do you fix an entire system that's dysfunctional? You work with what you've got and do your best to rise above the fray negotiating the proper system in motion. That is what this admin is doing, and what global economic leaders endorse (for very good reasons).

[Miborn]

Originally Posted by harborlady

Deregulation was a movement started by neo conservativism 30yrs ago and they went overboard. Glass-steagall was repealed by that movement, with a republican majority legislative branch pushing it through, and YES, Clinton DID go along with it. Yes he did. Lets ask every single legislator who pushed that plan and Clinton why they made such a foolish mistake. Let's also ask Bush why he didn't pay attention to the affects and take reasonable steps to mitigate the damage early on. Let's ask him why he sat there empty handed and motionless like a deer in headlights AGAIN.

He did in 2001 and the democrats shot it down!

[mikeh0950]

Clinton signed the banking deregulation bill which was introduced by phil
gramm, R-Texas. The bill had been voted on in the senate and passed
54 yeas to 44 nays. Of the yea votes 53 were republican and 1 was a
democrat. Therefore a veto by Clinton would have been moot, so he
signed the bill. Thus began the breakdown of the U.S. economy and
the advance to the brink of economic collapse in 2008. Nobel prize
winning economist Paul Krugman has called Phil Gramm the father
of the financial crisis in America. Just because you rode the wave of
economic prosperity during Bush's terms in office doesnt mean he or his
republican counterparts did a decent job. If you were smart enough or
lucky enough to jump off the wave before it hit the beach and broke up,
consider yourself fortunate. It did break up badly and now President
Obama is assigned the near impossible task of repairing the damage.

Everyone and their brother was riding a huge economic wave
of prosperity under Bill Clinton. Record highs on the Dow Jones and 5000
NasDaq. So please dont think that George Bush or any republican had
anything to do with the economy being good during their reign of terror.
It was just so good under Clinton that it took the Bush bunch 7 years to
destroy it.

[obo]

Originally Posted by mikeh0950

Clinton signed the banking deregulation bill which was introduced by phil
gramm, R-Texas. The bill had been voted on in the senate and passed
54 yeas to 44 nays. Of the yea votes 53 were republican and 1 was a
democrat. Therefore a veto by Clinton would have been moot, so he
signed the bill. Thus began the breakdown of the U.S. economy and
the advance to the brink of economic collapse in 2008. Nobel prize
winning economist Paul Krugman has called Phil Gramm the father
of the financial crisis in America. Just because you rode the wave of
economic prosperity during Bush's terms in office doesnt mean he or his
republican counterparts did a decent job. If you were smart enough or
lucky enough to jump off the wave before it hit the beach and broke up,
consider yourself fortunate. It did break up badly and now President
Obama is assigned the near impossible task of repairing the damage.

Everyone and their brother was riding a huge economic wave
of prosperity under Bill Clinton. Record highs on the Dow Jones and 5000
NasDaq. So please dont think that George Bush or any republican had
anything to do with the economy being good during their reign of terror.
It was just so good under Clinton that it took the Bush bunch 7 years to
destroy it.

yep, as usual, give the liar Clinton a free pass.