Moderator's Warning: Threads merged
The far right rails endlessly about unions and public workers....and the pigs at the trough get away with murder over and over again...heh
Think St. Ronnie. He's largely responsible for deregulation of the financial industry.
Today’s problems began in Reagan’s era of deregulation | reagan, began, santa - Opinion - TheMonitor.com
OpEdNews - Article: Reagan, Deregulation and the Slippery Road to Poisoned Assets
Robert Scheer: The Real Legacy of the 'Reagan Revolution'
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." (Bertrand Russell, 1872 - 1970)
"A wise man will change his mind. A fool never will." (My Grandma)
The accuracy police would like a word with you. The biggest problem is Gramm Leach Bliley deregulation signed by Clinton in 99, that repealed Glass Steagall. It rolled back legislation passed during the Great Depression separating commercial banks, investing banks, insurance firms and securities firms. It allowed the heavy risk to mix with the low risk and used insurance companies to valueate the risk and sell it as a commodity that wasnt worth its valuation.
Those companies were separated for a reason. But now the connections are so intergrown in the companies that did merge that breaking them apart again is near impossible.