Libsmasher
Well-Known Member
- Joined
- Jan 9, 2008
- Messages
- 3,151
in 1999, Gramm pushed through a historic banking deregulation bill that decimated Depression-era firewalls between commercial banks, investment banks, insurance companies, and securities firms—setting off a wave of merger mania.
http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html
it is well documented.
the GOP caused this mess.
being a "victom" of the left wing media.
cause they simply documented
what the gop did.
tis crapola.
The Gramm-Leach-Bliley Act had ONLY to do with the credit crisis due to the fact that the democrats in congress demanded a compromise in which the bill also enhanced the Community Reinvestment Act, so that banks were forced to make even more dangerous subprime loans. You don't know what you're talking about.