Quote:
Originally Posted by dc_dux
Its pretty simple to me.
The deregulation of S&Ls through the Depository Institutions Deregulation and Monetary Control Act cost the taxpayers more than $150 billion in the 80s
The more recent deregulation of banking, insurance and financial services institutions through the Financial Services Modernization Act will cost the taxpayers more than $500 billion.
Its too late to look back now...but it is time to re-regulate NOT deregulate.
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The Financial Services Modernization Act was Clinton, right? Was that due to the troubles he had late in his second term? I can't imagine a president that won because Bush couldn't fix the problems from S&L not vetoing something similar without good reason.