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Why do conservatives keep whining about the affects of market deregulation on the economy, and claiming it?
Why do conservatives keep whining about the affects of market deregulation on the economy, and claiming it was caused by liberals, Democrats, and/or Obama and in the same breath claiming we need more of what caused the problem?
BekindtoAnimals22 lay off the drugs.
5 Answers
- 9 years ago
The Gramm Leach Bliley Act passed in 1999 while Clinton was president was a very bipartisan bill. The democrats got housing for low income in the name of stopping red lining and the republicans got more investments. The two combined is what caused the disaster along with corrupt practices of lenders and Fannie Mae and Freddie Mac. Add to the problem the goofy people who bought homes they had no hope of ever paying for.
We need Glass Steagall to be put back in place and the big banks need to be broken up which is what Glass Steagall does by separating lending from investments.
If you think the Dodd Frank bill addressed that at all, you are mistaken. The part that caused the meltdown is still intact. All Frank Dodd did was increase the amount of capital that must be kept on hand by the banks but in regard to derivatives, sub prime mortgages, etc., none of those issues are regulated by Dodd Frank. We still have Too Big to Fail. Add to that the regulation for huge on hand capital is predicted to put many, many small banks out of business.
Mostly the left continues to blame Bush for the deregulation but he had absolutely nothing to do with it. I haven't heard anyone blame Obama for it either but I will say Dodd Frank did nothing to fix it. Nothing. It mostly addressed interest rates on credit cards and who pays the fees for this and that.
- Anonymous4 years ago
i've got self belief the bubble or actual sources growth became the effect of the whiplash effect of the federal reserve on costs of activity. any time you decrease the fee of borrowing, human beings will borrow. because of the fact that all banks take their instructions from various critical banks who're all interconnected with the international financial company and IMF. it incredibly isn't any longer tricky to control the international financial gadget in an age of globalization and countries integrating. its incredibly straight forward, any time you prefer regime exchange you tug on the hire and the persons change factors. our political gadget and media is so polarized and interest like its straight forward to be sure as quickly as you step lower back and seem at it objectively, whilst forgetting the two events, who're rather one celebration. i understand maximum folk will say it incredibly is ridiculous however the persons who say that even have self belief any subject out of hannity and olberman. attempt and locate out as much as you may in regards to the federal researve and the persons who run it. you will see the governmnet does not run the researve, the reserave runs the government.
- ?Lv 79 years ago
Why do people like you keep pretending we're experiencing the effects of "market deregulation", when in fact regulations have only become more common and more complex?
- Anonymous9 years ago
Nothing ever gets deregulated. Liberals keep adding more regulations on top of existing ones.
- ?Lv 59 years ago
To make huge profits for the 1% so they can get trickled on .Myself i think its a crime to let corporate greed go unchecked.