The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (173811)	12/27/2008 9:12:31 AM
From: Mike M2	Read Replies (2) of 306849

Bentway, the legislative branch of government makes the laws- ( Senate & House of Representatives) . The major aspects of deregulation which facilitated this credit bubble were born from legislative action with bi-partisan support. It's a safe guess that New york Senators Chuck Schumer & Hilary Clinton voted for every bill which reduced regulation. I'll remind you that NINETY of 100 US Senators voted for the repeal of Glass Steagall signed by Pres. Bill Clinton this allowed the primary broker dealer investment banks to get into the mortgage business ( Bears Stearns, Goldman Sachs, Lehman Bros.,Merrill Lynch, Morgan Stanley )

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