Toddsterpatriot
Diamond Member
Oh My bad , I dont know why I thought you said Carter (not enough coffee in me yet I guess).
What deregulation did Clinton do that lead to this?
It was under his regime that the decidon NOT to regulate the derivative market was made, TM.
In fact the woman who was running the Commodities Regulations, the woman who quite accurately predicted that the derei9vatives games that the banks were playing were going to cause a MELTDOWN, GOT FIRED because she wouldn't go along to get along.
So blaming this entire mess of Bush II is sort of missing the point.
This MESS has deep DEREGULATION roots that go back through the last 5 administrations AT LEAST.
Banks didn't meltdown and fail because of derivatives, they failed because of mortgages.
Mortgages that they have always been allowed to write.
Mortgages that would not have been prevented by regulations that may have been removed.