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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (117333)	12/19/2008 2:14:47 PM
From: GuinnessGuy	Respond to of 132070

M2, Yes, he signed it. He also signed the Commodity Futures Modernization Act on 21 December, 2000. I think you are putting a bit too much emphasis on Glass Segal, frankly. And keep in mind, that even though Clinton may have signed these bills(the later only 30 days from the end of his term), it wasn't always possible to veto, except on principle(which he prolly should have done) since he would have lost anyway. If you wanna point fingers at the people that could have stopped this whole mess from ballooning, you have to look at the regulatory agencies that oversee predatory lending. Either they or someone other entity under the DIRECT control of the Bush administration STOPPED the states from enforcing their own laws against the kind of lending practices that lead to this debacle. This was very similar to what the FED did to California by stopping that state from introducing and/or enforcing automobile mileage standards enacted there. Had these lending practices been stopped, we wouldn't be having this conversation, IMO. Really! Just how hard would it have been for the administration to just sit back and let the states put a stop to this mortgage lending madness? But no. They had to go to the time and expense of threatning states to stop interfering with the good times or else. ...and I always thought the conservatives were for states rights. In fact, it has been one of the pillars of their platform. Oh wait, let me doublethink this as I had forgotten we're living the book, 1984. craig