- Joined
- Sep 22, 2005
- Messages
- 11,430
- Reaction score
- 2,282
- Location
- Los Angeles
- Gender
- Male
- Political Leaning
- Independent
Financial deregulation was a bipartisan endeavor. No political party has clean hands regarding the current state of the economy.
Democrat: FDR created the FHA, which engendered Fannie-Mae and Freddie-Mac. This is a direct violation of the US Constitution.
Democrat: Carter signed the CRA that required banks to give loan preference to members of the local community, irregardless of their ability to repay.
Democrat: Clinton signed CRA II, which allowed corrupt organizations to sue banks who were denying loans to (gasp!) people who couldn't pay them back.
Republican: US Senate passes bill eliminating Glass-Steagall.
Democrat: Clinton signs repeal of Glass-Steagall.
yeah, clearly the Republicans share EQUAL blame for the mess.