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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (583989)	9/2/2010 9:55:32 AM
From: i-node	4 Recommendations Read Replies (3) of 1572923

Two hundred million dollars a year for three years. I've got news for you, nitwit. This wasn't a $600 Million problem. $600 Million would have funded maybe 2500 mortgages. The effect wasn't so much as a blip. This problem began with Clinton in '96 revising the regulations that were put in place under Carter, such that bad loans HAD to be made, else they would not be entitled to certain "benefits" they needed in order to grow. Clinton. 100%. It was Clinton's idea to strengthen the requirement. It was Clinton's action that made it happen. Who knows whether Bush was even aware it happened, it seemed so insignificant at the time. That, coupled with Clinton's (Robt. Rubin's) refusal to allow regulation of derivatives, brought the house down. Literally.

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