Do you not know you’ve been corrected on this enough times? I never said anything about unfettered anything.
There was no deregulation. The financial industry was and is highly regulated. Hence the 2008 meltdown. Thanks, government!
I’ve already showed you otherwise. The financial industry was deregulated in 2001, which caused the collapse.
You gave no example of deregulation, because you can't because the financial industry was and is highly regulated.
I think the below is what appears being discussed currently: In 1998 Citicorp merged with Travelers group, creating Citigroup which was a violation of the Glass-Steagall Act but was given a temporary waiver by the Federal Reserve. This led to the creation of the Gramm-Leach-Bliley Act to legalize such mergers on a permanent basis, which was overwhelmingly passed by both Houses of Congress and signed by Bill Clinton in 1999.
very true, financial sector here and in Europe was highly regulated and that was cause of collapse. Free markets are self-correcting while liberal soviet markets obviously are not. At time of collapse Fan/Fred owned or guaranteed 75% of subprime and Alt A mortgages! The liberal govt had no less than 132 housing programs to get people into homes the Republican free market said they could not afford!
Glass stegal didn't deregulate the financial industry. It was still regulated, and that regulation caused the crash.
exactly!! a soviet liberal loves to imagine that he knows which way to tweek regulations to keep the economy on track. This is the fatal conceit. USSR and Red China tweeked for 100 years and still 120 million slowly starved to death!!
You didn't prove that there were no regulations on the financial industry. FDIC, for example, was a regulation. The financial industry was regulated, not unregulated.
Because I never said there were "no regulations on the financial industry". That is your strawman, and you've been called on it numerous times. correct. It was deregulated by republicans, which is what caused the recession. Notice I said deregulated and not unregulated? You have no excuse to continue pretending I said something I did not, and will be reported for trolling if you keep pretending I did.
Right. So those who blame recessions on unregulated, unfettered capitalism are wrong, because capitalism was regulated running up to the 2008 crash. The financial system was regulated, so clearly regulation caused the crash.
Sorry, but the financial industry was regulated, not unregulated. Therefore the crash of 2008 was occurred under a regulated financial industry, the regulations being the cause of the crash.
Lol, posting something you disagree with isn't trolling. The financial industry was not unregulated. It was regulated.
No, but posting something you intentionally made up and pretended I said it, after being called on it is. Strawman. reported for continued trolling.
there is no evidence it had anything to do with housing bust. Someone told that you are dutifully repeating it Why The Glass-Steagall Myth Persists - Forbes https://www.forbes.com/sites/.../why-the-glass-steagall-myth-persists/ Nov 12, 2012 ... There's zero evidence that this Depression-era law caused the financial crisis. But others, like former Treasury Secretary Tim Geithner, have said the focus on Glass-Steagall is misguided. They argue other factors were far more important in causing the 2008 crisis, such as bad mortgage underwriting, poor work by the ratings agencies and a securitization market gone crazy. All of that would have happened no matter the size of the big banks.
2 most heavily regulated industries are finance and health and so 2 most subject to soviet style problems. Republican capitalism is self-correcting. Do you understand?
