American Presidential Politics and foreign affairs Message Board

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Politics : American Presidential Politics and foreign affairs

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To: DuckTapeSunroof who wrote (41576)	3/1/2010 6:54:34 PM
From: TimF	Read Replies (1) of 71588

A COMPLETELY DIFFERENT QUESTION then the question of vulnerability to the financial contagion and global financial crisis/crash of 2008/2009. Which itself is a completely different question than the point raised. Well not completely different, its a small part of it, or something related to it, but its not it. "Other countries got along fine, with nothing like Glass Steagal" "Got along fine" in the context of talking about a lack of a specific type of regulation forever, and a lack of it when American had it for quite a few decades, does not equal that they where invulnerable or even less vulnerable to a specific year or three long financial crisis. They got along fine (and largely avoided a crisis like this) for a long time. If Glass Steagal was so key, why didn't the crisis start in Europe and start a long time ago?

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