Blame Bush
He did it. I'm so tired of hearing that one.
How about
Quote
An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, 1999 sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.

The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.


or this

Quote
President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but "predatory."


as far as bush goes the only thing he did was try to change the way Fannie and Freddie operated, in 2004, he was blocked by the democrats. Mainly by Dodd, Obama, and Kerry. Who were by coincidence the top three recipients of funds from Fannie and Freddie.

Like I said. The protestors are protesting the wrong people. And if heads are going to roll over the banking collapse I suggest they start with Carter and Clinton then move on to Obama.

As far as Wall Street execs getting money from our Bailout money goes I think if it was in their contract then it's their money. Heck we pay Senators and Congressmen for doing a crappy job why should Wall street be any different. Athletes get paid, win or lose. I think they are all over paid.
As far as the Bailouts go? They should never have gotten a dime.

Last edited by Bill Robinson; 10/06/11 12:10 AM.
Bill
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