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

To: Metacomet who wrote (176971)	1/14/2009 8:43:22 AM
From: Mike M2	Read Replies (3) \| Respond to of 306849

We entered the year 2000 with the biggest stock market bubble in history- courtesy of Alan Greenspan. Explain how Bush is to blame for the repeal of Glass Steagal which allowed investment banks to get into the mortgage business ( remember Bear Stearns & Lehman) and Commodities Futures Modernization Act of 2000 which among other things allowed SWAPS ( remember AIG ?) to trade without regulation against the advice of Brooksley Born head of CFTC during the Clinton years. The record is quite clear -Alan Greenspan and Bob Rubin were strongly against the regulation of derivatives. Arthur Levitt head of SEC 1993-2000 now admits that Born was correct.