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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bart13 who wrote (113210)	9/6/2015 12:24:37 AM
From: Elroy Jetson	3 Recommendations Recommended By bruiser98 ggersh Metacomet Read Replies (1) \| Respond to of 217804

Some of the most unethical behaviour at banks and the syndicating Wall Street firms was legal because the Gramm–Leach–Bliley Act of 1999 and Bush's Treasury Department after 9/11 had been made so. It's a repeat of Reagan's destruction of the S&L industry. Once Reagan made many types of bank crime legal at S&L's, it cost the taxpayer obscene amounts of money and most of the people responsible couldn't be prosecuted because Reagan had made this type of bank fraud completely legal. Rather than lending on home loans with 20% down-payments, S&Ls could simply take all the depositor's money and invest it in Wendy's franchises as one S&L did, or more commonly use the depositor's money as working capital for the Bank Chairman's real estate development company. Deregulating bank crime sounds really "free-market", at least to stupid people, but it merely creates a huge tab for the taxpayer.