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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (563552)4/28/2010 2:18:55 PM
From: combjelly  Read Replies (3) of 1575082
 
"Glass Steagal didn't regulate derivatives"

True, it didn't. But the act which repealed parts of it also specifically exempted the derivatives market from regulation. That, combined with the mixing of banking and financial services, what Glass-Steagall did regulate, lead directly to the crisis.

"The regulation and intervention during (and including trade barriers before) the Great Depression, where a major reason why it was a Great Depression."

You are confusing cause and effect. Granted, those things helped trigger the crisis. But it wouldn't have been a crisis if things weren't on the verge of yet another depression, anyway. Those things came around about every decade or two. Had been for over a century.
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