On Sep 16, 11:38 am, Dave wrote:
On Tue, 16 Sep 2008 11:26:06 -0700 (PDT), "
said:

Rules that were put in place in the last
great consumer credit crunch have been loosened all around to maintain
liquidity

What rules were those?

Rules like my rule against posting off topic! My apologies to the
group and I'll let you have the last word, Dave. My thesis is that
banking deregulation, securities deregulation and insurance
deregulation have been driven by the need to expand consumer credit.
Many of those regulations that were loosened were legacies of the
Great Depression and included collateralization requirements for banks
and insurers, strict separation banking and securities services and
book keeping among others. Gory detail is available to a Google user
and there's some general discussion he http://en.wikipedia.org/wiki/Deregulation.

-- Tom.