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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (30656)12/25/2008 2:59:34 AM
From: RMF  Read Replies (1) of 71588
 
I don't think these "bundles of loans" could have been sold very easily without the "insurance" of derivatives.

Phil Gramm was a real backer of "hands off" on derivatives. He got a pretty lucrative job after he left Congress.

If you want "real specifics" then look into Phil Gramms "work".

I only single out the Republicans since they have been "leading the way" on deregulation for about 3 decades now.

I blame BOTH Parties for letting this happen, but I blame the Republicans the MOST because they have consistently tried to undermine the Regulatory Agencies when it came to Financial Commerce.
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