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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (150343)	11/17/2010 5:48:03 PM
From: Ron	Read Replies (1) \| Respond to of 542149

The S & L crisis was over 20 years ago, so it has no relevance? That's wrong. It has a great deal to do with the current financial meltdown. Deregulating S &Ls led to the S & L mess and deregulating the banks, allowing for an unfettered free-for-greed-for all led to the current meltdown. It even spread to Iceland, which up until 2000, had a well regulated, rock solid banking industry. So Krugman's link is quite relevant. When Congress acted on deregulating the thrift industry. It passed two laws, the Depository Institutions Deregulation and Monetary Control Act of 1980 and the Garn–St. Germain Depository Institutions Act of 1982. en.wikipedia.org