Re: Meghan McCain Slams Christine O'Donnell Seen as 'Nutjob'

It was the deregulation of many institutions through the last several decades.

Against the democrats wishes, republicans first deregulated the
banking industry. IT was a move to fleece the banks and they did. Niel
Bush helped cause the collapse of Lincoln Savings and Loan. That
shenanigans cause a Multi billion dollar bail out with our tax money.

Next, the GOP deregulated the electricity under the guise of cheaper
electricity. Electric rates promptly sky rocketed and we're all still
paying to this very day.

Next, the GOP deregulated the mortgage industry. As we all now know,
deregulating the mortgage industry was nothing more than a license to
steal.

A a reform bill aimed at Freddie and Fannie was introduced in 2005
that would have required Fannie and Freddie to eliminate their
investments in "risky assets" and it would have given a regulator the
power to say "no way." This bill came after a warning by Alan
Greenspan that the two were on the path to putting our entire
financial system at substantial risk.

This bill was co-sponsored by John McCain.

However, the bill never came to a vote because Democrats decided to
make it a partisan issue, and opposed it along party lines.

Source(s):
http://www.bloomberg.com/apps/news?pid=n…

On 10/19/10, MJ <michaelj@america.net> wrote:
> Tommy
> The Economic meltdown was caused by the BUSH deregulation of banks and
> wall Street, allowing toxic lending.
>
> MJ
> Please point to the specific legislation that accomplished this.
> Do note that Banks have been defacto controlled by the Feds since at least
> the 19-teens.
>
> Tommy
> They also squandered the surplus which Clinton accumulated.
> MJ
> There was no surplus -- merely an accounting gimmick.
>
> Tommy
> Conservatives will not fix anything, they will simply return to the
> failed Bush policies that caused this mess, and they have no
> constructive plan other than grabbing power back and blocking the
> President at every turn.
> MJ
> You are correct in that the Conservatives will not 'fix' (whatever that
> means) anything AND that they will simply CONTINUE (not return since
> they have not been 'left') the failed policies that Obama continued from
> Bush who continued from Clinton, Bush, Reagn, Carter, Nixon, Johnson,
> Kennedy, etc.
>
>
> Regard$,
> --MJ
>
> "I'm fully willing to use the veto if they [Congress]
> overspend." George Bush, Press Conference 26 Jan 06
>
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--
Together, we can change the world, one mind at a time.
Have a great day,
Tommy

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