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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: zzpat who wrote (1041060)	12/1/2017 2:00:26 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 1586505

usnews.com "The oldest propaganda technique is to repeat a lie emphatically and often until it is taken for the truth. Something like this is going on now with regard to banks and the financial crisis. The big bank boosters and analysts who should know better are repeating the falsehood that repeal of Glass-Steagall had nothing to do with the Panic of 2008. In fact, the financial crisis might not have happened at all but for the 1999 repeal of the Glass-Steagall law that separated commercial and investment banking for seven decades. If there is any hope of avoiding another meltdown, it's critical to understand why Glass-Steagall repeal helped to cause the crisis. Without a return to something like Glass-Steagall, another greater catastrophe is just a matter of time." and from Politifact: But Clinton’s hands aren’t clean of the financial crisis, because his administration played no small part in the longer term deregulatory trend. Clinton and his administration did not make an earnest attempt to maintain oversight over the big, hybrid banks created by the demise of Glass-Steagall, Day said. Additionally, the administration’s firm decision not to regulate other aspects of the financial market played a meaningful role in the crisis -- for example, the absence of regulations regarding over-the-counter derivatives, which were becoming increasingly prevalent, despite internal warnings.