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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (39754)12/18/2009 4:59:11 PM
From: TimF1 Recommendation  Read Replies (1) of 71588
 
WITHOUT these *two government actions*:

1) Hugely INCREASED GOVERNMENT INSURANCE on the deposits of all Savings and Loan account holders.

As a response to the developing crisis, not a cause of it. Even if its a foolish response, that doesn't make it the cause.

2) REMOVING the restrictions that had been in place since the Great Depression on the type of investments that Savings and Loan institutions could make.

Again, largely as a response. Again an argument could be made that it was a foolish one, or that at least the specific implementation or timing of the change was foolish.

It can also be reasonably argued that the 2nd increased the size of the problem, and that the first increased the size of the bailout at the end of the problem, but neither of those things amount to the cause of the problem, let alone the only causes.
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