wrote in message
...
On Thu, 20 Aug 2009 12:39:48 -0700 (PDT), wf3h
wrote:

On Aug 20, 2:23 pm, wrote:
On Thu, 20 Aug 2009 09:51:50 -0700 (PDT), wf3h
wrote:





On Aug 20, 12:31 pm, wrote:
On Thu, 20 Aug 2009 03:08:07 -0700 (PDT), wf3h
wrote:

read the legislation. it was written by phil gramm, a texas
republican, and his wife, a sr. VP at enron. and we know how the
GOP
loved enron. another chance to fleece the middle class.

Look at the votes on Gramm-Leach-Bliley.
155 house democrats and 38 democratic senators voted for it
Bill Clinton signed it into law

yep because they got stampeded...just like you have...by the myth of
the 'free market'. even after the biggest collapse in US history you
still thump your chest and tell us how the markets need to be
deregulated.

Bill Clinton was in front of that stampede. Did you watch the
signing?
He was telling us this was the best thing since sliced bread.

of course he did. many of us bought the free market kool aid and
politicians ignored it at their peril. just look at how true believers
like yourself continue to hang onto this little security blanket of
the 'rich will protect us'.

I never said that
I am saying you can't trust the democrats to save you either.

In fact it was the democrats who killed H.R.4161 in 2005 that would
have regulated Fannie/Freddie and would have tempered this housing
crisis. That was Dodd and Frank.

the GOP controlled congress in 2005. it was not until 2006 that the
democrats were a majority

The GOP did not have a filibuster proof senate.-

which, of course, is irrelevant to your point. the fact is the GOP
deregulated markets allowing CDO's to balloon to sixty two trillion
dollars.

anyone older than 5 years old would have known that was unsustainable.
but the free market fundamentalists in the GOP steam rollered the
political machinery to make regulation impossible.


You continue to ignore the fact that Clinton did that, in the same way
Bush did all the things we say he did. It happened on his watch and he
could have vetoed the bill. He did exactly the opposite and championed
it while it was flowing through congress with significant democratic
support.

I agree they all drank the Kool aid but "all" is the operative word.
To call this a GOP problem is not intellectually honest.
Bear in mind this was the same time that we were applauding Enron,
Worldcom, Adelphia and a host of other frauds as being "prosperity".
Greenspan was really the only one who was warning us that this might
just be an illusion but even he was half hearted about it.
It is very similar to the way we were relishing the housing market in
2006. I have to say, I knew enough to dump my home builder stocks the
day I heard Centex had stopped building "inventory" houses.
The signs were there. You just had to look.

And it was Rubin's, Clintons Sec of Treasury who pushed Glass-Steagall
dumping. Before he went to CitiBank and made it Citigroup. A pox on both
parties.