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My understanding that part of what caused the housing bubble crisis in the US was the repeal of the Glass-Steagall act by Bill Clinton. Besides, I suppose that
by mercurial 12y ago
My understanding that part of what caused the housing bubble crisis in the US was the repeal of the Glass-Steagall act by Bill Clinton. Besides, I suppose that governments, if they took their responsibility, could break up large, "too big to fail", banks, in the same way that Bell was.
I'm not sure why you think that an industry with so many instances of irresponsibility and dishonesty is fit to essentially govern itself more through deregulation.
- beedogs 12y agoGLB was signed by Clinton, but it was sent to his desk with a veto-proof majority. Destroying the American banking system was a bipartisan effort in stupidity.
- mercurial 12y agoNoted. I'm not interested in casting blame, all the more since as a foreigner, I can't really tell the difference between Republican and Democrat economic policies.