Originally Posted By Sport Goofy donny, at least it's good to hear a conservative argue that deregulation of the financial industry caused all of this mess. I guess that means we won't have to listen to you call for less regulation and smaller government to fix things, right?
Originally Posted By donnyaz Sport Goofy said "I guess that means we won't have to listen to you call for less regulation and smaller government to fix things, right?" I am not one of those Republican who think the free market should be completely free of regulation.I think that is one area of the Republican party that has gone off the deep end at times.
Originally Posted By Dabob2 <Dabob2 so under yor logic alot of the blame is with President Bill Clinton ????Who was the President who signed the Repeal into law ?????> Calm down, dude. Multiple question marks don't make the question any more pressing. Clinton has some blame, as I've said. However, the bill passed easily, with veto-proof majorities. The financial industry lobbied hard for this, an in addition to near unanimous GOP support (then the majority, of course), they got enough Democrats that it went through with over 2/3 support. Had Clinton vetoed it, he'd have been overridden. He should have done it anyway out of principle, but the lion's share of the blame lies with the GOP congress, who originated it, wrote it (with the help of the financial industry, of course), and pushed it through. (Let's not forget, too, that 1999 was the year of the ridiculous impeachment over Monica; Clinton might not have wanted to pick this particular fight with Congress.) But the buck doesn't really stop with him, because of the above, and because the effects were not easily seen during his term (this was signed in 1999). When it became clear what was happening (which some economists were warning about in the middle of the last decade), then the buck should have stopped with Bush, who did nothing.
