Thread: History and the stimulus package.

I can't find a source, but I seem to remember Clinton repealed Glass-Steagle with help from a republican congress as a concession to get sarbanes-oxley on the books. Again, I don't know how accurate that is but it sure wouldn't surprise me to find out that everyone on the hill is to blame for it.

Now here are some interesting links:

Greenspan admitting deregulation was a mistake

“You had the authority to prevent irresponsible lending practices that led to the subprime mortgage crisis. You were advised to do so by many others,” said Representative Henry A. Waxman of California, chairman of the committee. “Do you feel that your ideology pushed you to make decisions that you wish you had not made?”

Mr. Greenspan conceded: “Yes, I’ve found a flaw. I don’t know how significant or permanent it is. But I’ve been very distressed by that fact.”

HUD mortgage policy fed the crisis
Under Republican president and Democratic congress

Federal government stops states from protecting against the subprime mess locally
again, Republican president, Democratic congress.


Blame goes to everyone for this thing, ignoring that fact is okay because it DOESN'T MATTER NOW HOW WE GOT HERE. If a tree falls on a kid, you get the kid to the hospital. You don't yell at the kid for playing near a dangerous tree. Once the kid is better you levy your punishment as needed.


-Rob