David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country

Glass Steagall

 

http://www.forbes.com/sites/objectivist/2012/11/12/why-the-glass-steagall-myth-persists/

so.....since it isn't Glass Steagall.....what next?

 

Says who you? Forbes?


It in-fact lead to shitty business practices.


I mean, are you going to go out on a limb as say the repeal meant nothing and had no effect?

 

That is a myth Pride. Forbes is far from a liberal publication, in fact I would classify it as more conservative. Further, even if it were true, you would really use something from 80 years ago to blame for today's economic crisis?

 

The repeal dude. You know what I am talking about.

It didn't directly cause the crash, but you are high if you think it did not have an effect on the outcome of the bubble.

 

Going to work out.

I will runs circles with you later on!!

 

you better go work out.....your going to need it

 

so...since it is Glass Steagall.....

http://www.usnews.com/opinion/blogs...of-glass-steagall-caused-the-financial-crisis

 

Blogs are not credible sources of information, Mancha. Any jack ass can start a blog and give their two cents.

 

You didn't read it did you? Did you read your link? Yours was written by a couple of d-bags from the Ayn Rand Center. One can guess their slant simply by their credientals.

You can read the link I posted earlier from this thread's man of the hour David Stockman. Or you can refer to the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 that attempts to tighten regulations on Wall Street and Financial Institutions that got us in this mess.

Simply put, the repeal of Glass Steagall was the cayalyst for the economic crash. Banks, Investment institutions, Govt, and greedy consumers all worked in conjunction to inflate the bubble and to cause it to burst.

And that's the bottom line...