More Acorn Voter Fraud Comes to Light

[mjs]

It was Tush's retarded domestic policy, specifically the deregulated banking/lending industries that led the way down this primrose path. I remember him on the TV encouraging banks to lend to everyone, how home ownership was the "American dream" and was within reach of everybody, and to go for it- leading people into the arms of loan sharks and miscreants.

It was a planned ideology designed to snooker people into accepting loans they didn't understand and couldn't afford, especially if they were to lose their jobs due to Tush's economic collapse, which most of them did.

Couple that with the 1st piece of legislation the Tushies passed in 2001, which gave more power to corporations, banks in particular with regard to bankruptcy. Can't discharge all debt anymore, so you're on the hook for a portion of it, seemingly forever.

All Bush Crime Family doings, all the time.

You really need to take a Civics class. The community colleges offer them at an affordable price. The government deregulates with laws. The laws are passed by Congress because the President lacks the authority to pass laws. House versions of laws on banking start in the House Financial Committee. The committee is responsible for banking regulation. Barney Frank has been a long standing member of the committee.

Glass-Steagall regulated banking and Gramm-Leach-Bailey deregulated it. When Glass-Steagall was repealed by Gramm-Leach-Bailey in 1999, the Democrats controlled the House, the Senate, and the Presidency. The House voted 343-86 with Democrats voting 138–69. Banking deregulation was a bipartisan effort over several Presidencies. Its final push in 1999 was lead by a newly created entity called Citigroup.

http://www.pbs.org/wgbh/pages/frontl...ll/demise.html
http://en.wikipedia.org/wiki/Citigroup

[ccbatson]

Deregulation? Not a good term. Deregulation as a part of a bid to insert government into the business of banking and finance is deregulation of whom? It unfetters government from making a power grab, so, in a sense, it is a deregulation of itself [[government) but a increase of restriction on the private sector.

[mjs]

Deregulation is not a good term, as in you don't like it as an act, or that its an improper description of what Gramm-Leach-Bailey accomplished? I'm not understanding your post, but I sometimes have to look up the terms you use so explain it in a simpler or different way.

[ccbatson]

Not a good term if government expansion is thwarted by deregulation. Why? Because if any problems could result from deregulation [[and very little would), it is nothing compared to the harm associated by the surge to socialism that is "excused" by invoking the evils of "deregulation".

[mjs]

I'll take the Glass-Steagall period over the Gramm-Leach-Bailey period any day of the week and twice on Sunday. The law eventually lead to the largest government intervention in history and government ownership of banks which is about as close to socialism as I want to get.

[ccbatson]

Not far too close? It is for me...and it is a juggernaut that likely will not be stopped until the Marxists in charge are voted out [[ASAP).

[rb336]

Why? Because if any problems could result from deregulation [[and very little would), it is nothing compared to the harm associated by the surge to socialism that is "excused" by invoking the evils of "deregulation".

bats, you really do have blinders on. deregulation, virtually total, on these unsecured securities is so clearly what has caused the current mess one would have to be an idiot or totally blinded by some half-baked dogma to not understand it.

[ccbatson]

Deregulation of??? You've got it...Freddie/Fannie.