They abolished the Glass Steagal law (I think thats the one) which banned the banks from selling on debt and that stopped investment firms from dealing with retail banking and vice versa. The selling on of debt was a massive problem, because it changed the business of banks from the management of money, credit and loans, into agencies that sold loans.
That's just not how it happened. There hasn't been any relevant deregulation in the past 25 plus years. Heavily regulated companies like Fannie Mae and Freddie Mac bought risky goverment-guarenteed mortgages, which led to excessive home building and an unstable price bubble. I see it all over the place here in Plano and Frisco. Dozens of 300k plus homes are popping up all over the place with nobody to fill them that can actually afford a house like that. The Republicans wanted more supervision of Fannie Mae and Freddie Mac, but the Democrats wouldn't allow it. That is why we are in a housing crisis. You can argue this all you want, but deregulation is not to blame and several experts agree (which you can find all over the internet) that the Democrats are just trying to point the finger at an opposing party. People worship Obama and the Democratic party so much, that they are willing to believe anything they are told. It's sad....
They only ABLE to buy those junk mortgages (which is what got them into trouble) because... OF DEREGULATION. Without deregulation, they would not have been able to sell on the mortgages, which allowed them to feel free to sign insane mortgages, and then onsell these mortgages on to other people, which ended up spreading bad debt far and wide, and did things like bankrupting Iceland.
Sorry, but I still firmly believe that lenders, the buyers, and the Democats that let this problem spiral out of control are to blame. pointing the finger at deregulation is misguided. Too many people bought into bad loan options. Oh and not to mention Freddie and Fannie bought into a bunch of junk mortgages. Ofcourse that's not the whole story...
Repugs are famous for their "Blame Game" and pointing fingers at others with their holier then thou attitude, somewhat resembling a spoiled 4-yr-old pouting "Me me me me"!
Deregulation, which was pushed by Reagan, Bush, Greenspan, and Bush, as well as McCain and Phil Gramm, was the main cause of the current collapse. Fanny and Freddie would not have been able to sell on such bad debt, had there been proper regulations, and therefore they would not been willing to sign such irresponsible mortgages.
Actually, at the moment sudden leaps and dives in the stock market are not very good indicators, because the markets are going haywire because of that whole subprime collapse.
Wall Street's strange little irony -- studies show the stock market performs better and tends to be less volatile when Democrats are in power. Looking at the 72-year period between 1927 and 1999, the study shows that a broad stock index, similar to the S&P 500, returned approximately 11 percent more a year on average under a Democratic president versus safer, three-month Treasury's. By comparison, the index only returned 2 percent more a year versus the T-bills when Republicans were in office.
The market ended down 500 points. This is normal too. The anticipation of the future cabinet often creates a drop in the DOW. It happens more when business and industry sees the candidate as a threat to them. That is the case here.
Are we forgetting that the Democrats are to blame for our finacial crisis? Ha talk about pointing the finger. The Dems blocked every attempt made by the Republicans to rein in Freddi and Fannie. If you wanted change, then you should have voted for McCain.
They've already started doing that. The talk radio is trying to spread the idea that business is suffering because of anticipation of the Obama presidency. Ridiculous. The Financial Times and the Economist magazine have both endorsed Obama, and stock prices went up after he was announced to be the President-Elect.
I actually wasn't that against McCain until he picked Palin. I thought he would at least be better than Bush. But the choice of Palin did him in and showed that he wasn't a "maverick," he was completely insane.
Who said they were emo?
They abolished the Glass Steagal law (I think thats the one) which banned the banks from selling on debt and that stopped investment firms from dealing with retail banking and vice versa. The selling on of debt was a massive problem, because it changed the business of banks from the management of money, credit and loans, into agencies that sold loans.
That's just not how it happened. There hasn't been any relevant deregulation in the past 25 plus years. Heavily regulated companies like Fannie Mae and Freddie Mac bought risky goverment-guarenteed mortgages, which led to excessive home building and an unstable price bubble. I see it all over the place here in Plano and Frisco. Dozens of 300k plus homes are popping up all over the place with nobody to fill them that can actually afford a house like that. The Republicans wanted more supervision of Fannie Mae and Freddie Mac, but the Democrats wouldn't allow it. That is why we are in a housing crisis. You can argue this all you want, but deregulation is not to blame and several experts agree (which you can find all over the internet) that the Democrats are just trying to point the finger at an opposing party. People worship Obama and the Democratic party so much, that they are willing to believe anything they are told. It's sad....
They only ABLE to buy those junk mortgages (which is what got them into trouble) because... OF DEREGULATION. Without deregulation, they would not have been able to sell on the mortgages, which allowed them to feel free to sign insane mortgages, and then onsell these mortgages on to other people, which ended up spreading bad debt far and wide, and did things like bankrupting Iceland.
Sorry, but I still firmly believe that lenders, the buyers, and the Democats that let this problem spiral out of control are to blame. pointing the finger at deregulation is misguided. Too many people bought into bad loan options. Oh and not to mention Freddie and Fannie bought into a bunch of junk mortgages. Ofcourse that's not the whole story...
Why do you choose to stay anonymous?
Repugs are famous for their "Blame Game" and pointing fingers at others with their holier then thou attitude, somewhat resembling a spoiled 4-yr-old pouting "Me me me me"!
Deregulation, which was pushed by Reagan, Bush, Greenspan, and Bush, as well as McCain and Phil Gramm, was the main cause of the current collapse. Fanny and Freddie would not have been able to sell on such bad debt, had there been proper regulations, and therefore they would not been willing to sign such irresponsible mortgages.
Actually, at the moment sudden leaps and dives in the stock market are not very good indicators, because the markets are going haywire because of that whole subprime collapse.
No thank you. I will pass on your offer.
Wall Street's strange little irony -- studies show the stock market performs better and tends to be less volatile when Democrats are in power. Looking at the 72-year period between 1927 and 1999, the study shows that a broad stock index, similar to the S&P 500, returned approximately 11 percent more a year on average under a Democratic president versus safer, three-month Treasury's. By comparison, the index only returned 2 percent more a year versus the T-bills when Republicans were in office.
The market ended down 500 points. This is normal too. The anticipation of the future cabinet often creates a drop in the DOW. It happens more when business and industry sees the candidate as a threat to them. That is the case here.
geez u crazy emo person
FUCK U ALL AND SHIT ON YOUR FACE
Are we forgetting that the Democrats are to blame for our finacial crisis? Ha talk about pointing the finger. The Dems blocked every attempt made by the Republicans to rein in Freddi and Fannie. If you wanted change, then you should have voted for McCain.
They've already started doing that. The talk radio is trying to spread the idea that business is suffering because of anticipation of the Obama presidency. Ridiculous. The Financial Times and the Economist magazine have both endorsed Obama, and stock prices went up after he was announced to be the President-Elect.
I actually wasn't that against McCain until he picked Palin. I thought he would at least be better than Bush. But the choice of Palin did him in and showed that he wasn't a "maverick," he was completely insane.
more like the repugnicans have four years to find more ways to blame the democrats for all of their mistakes.
I second that!
No more than you I suppose.