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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (173811)	12/27/2008 9:12:31 AM
From: Mike M2	Read Replies (2) \| Respond to 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 )

To: bentway who wrote (173811)	12/27/2008 12:06:33 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 306849

Why did Greenspan allow it? He could hve stopped it cold.

To: bentway who wrote (173811)	12/27/2008 3:23:42 PM
From: tejek	Respond to of 306849

It's hard to know what the Bush admin's motive for no oversight in so many areas was. I suppose it's just the overswing of the pendulum of "getting government off the back of business" started by Reagan and religiofied by the (R)'s, to where scamsters and criminals were free to steal with both hands. I think its an attitude.....to feather the nest of people that support you. Chris Cox of the SEC went out of his way to make it easier for hedge funds to operate in the markets. So many rules like the uptick rule were put on hold.