Talk about aelective memory, how about the commodities futures modernization act passed by Bush and the NeoCons that removed all government oversight from mortgage groups which led to the creation of a bunch of tiny mortgage companies that made HALF of the bad loans that went belly up in 07. Or how about the fact that Clinton tried to mitigate the inflation and bubble building by leaving Bush a 300 billion dollar budget surplus which Bush turned into a 1.2 trillion dollar deficit?! Hmm?
Both partys are to blame here,but only one ideology--the ideology of deregulation--Conservatism. If Democrats had stuck to liberal principles we would now be so much better off.
Oy, I'm getting verklempt ! Here's a topic, Fox News is neither news nor a wise fox: DISCUSS
I got shpilkes in my genechtegezoink, I need to recover in miami.
This guy is worse than never knowing Barbara Streisand. No no, this guys is worse than never hearing Barbara sing. OY, he gives me gas just thinking about it.
The Republicans are searching high and low for some political cover, for 'solely' causing the huge economic recession (depression soon?). They need to blame someone else, and there are no good targets. Even FOX saying that some DEMs voted for the bill won't do. The GOP had the majority in both Congresses. The GOP wrote the bill. FOX NEWS thinks the American public are idiots. We're not.
The Republicans had wanted this deregulation rule for years, and got it at the nations expense. Sadly.
Another case of Republican-revisionism. Phil Gramm, the Republican, was trying for years to repeal Glass-Steagall, and he finally did, with the Gramm-Leach-Bliley Act in 1999.
Glass-Steagall prohibited banks from offering investments, commercial banking, etc. In effect, Gramm allowed banks to get into bed with investment/insurance companies. The GOP wanted to enrich themselves with the watering-down of regulation and oversite.
Have we forgotten that the GOP owned Congress during Clinton??
There's a little revisionist history here. The initial bill won a narrow majority in a partisan vote (and Clinton would have vetoed that version). A few concessions were added and it passed overwhelmingly with bipartisan support. Clinton was in favor of the revised version and has recently defended signing it.
"I don't see that signing that bill had anything to do with the current crisis". - Bill Clinton, Sept 24th, 2008
Bill Clinton is totally off his rocker if he doesn't see how repealing the Glass Steagall act was a major factor in the current crisis. You've been duped by the horse-race politics and small "concessions" that were made to pass this horrible bill.
I've voted third party in the past three presidential elections so I don't buy into the horse-race. The reason I quoted Clinton was the previous poster implied that Clinton didn't want to sign Gramm-Leach-Bliley. This is patently false and Clinton is still defending his decision in the face of mounting criticism.
It bothers me immensely that with all current "bravado" in Congress, noone seems to be talking about repealing Gramm-Leach-Bliley, which I agree was a horrible bill.
This is right on. It was pushed forward by Republicans, rubber stamped by democrats and is probably the primary cause of the current financial melt down.
Talk about aelective memory, how about the commodities futures modernization act passed by Bush and the NeoCons that removed all government oversight from mortgage groups which led to the creation of a bunch of tiny mortgage companies that made HALF of the bad loans that went belly up in 07. Or how about the fact that Clinton tried to mitigate the inflation and bubble building by leaving Bush a 300 billion dollar budget surplus which Bush turned into a 1.2 trillion dollar deficit?! Hmm?
durhamdf 3 weeks ago
I'm a progressive and hate fox news but this guy is dead right. There is plenty of blame to go around for this mess.
liverleef 9 months ago
Both partys are to blame here,but only one ideology--the ideology of deregulation--Conservatism. If Democrats had stuck to liberal principles we would now be so much better off.
paulgrim96 2 years ago
VOTING for it and WRITING it are two different things.
sonofsarek 2 years ago
Why blame one party or the other? just reinstate the god damn act. Frickin idiots.
arodaman 2 years ago
Oy, I'm getting verklempt ! Here's a topic, Fox News is neither news nor a wise fox: DISCUSS
I got shpilkes in my genechtegezoink, I need to recover in miami.
This guy is worse than never knowing Barbara Streisand. No no, this guys is worse than never hearing Barbara sing. OY, he gives me gas just thinking about it.
shakaama 2 years ago
The Republicans are searching high and low for some political cover, for 'solely' causing the huge economic recession (depression soon?). They need to blame someone else, and there are no good targets. Even FOX saying that some DEMs voted for the bill won't do. The GOP had the majority in both Congresses. The GOP wrote the bill. FOX NEWS thinks the American public are idiots. We're not.
The Republicans had wanted this deregulation rule for years, and got it at the nations expense. Sadly.
medartist01 3 years ago
@medartist01 LOL you cant just ignore that Summer, Pelosi, Clinton etc... all wanted/ voted for the repeal of glass steagall.
bonfirejovi 1 year ago
Another case of Republican-revisionism. Phil Gramm, the Republican, was trying for years to repeal Glass-Steagall, and he finally did, with the Gramm-Leach-Bliley Act in 1999.
Glass-Steagall prohibited banks from offering investments, commercial banking, etc. In effect, Gramm allowed banks to get into bed with investment/insurance companies. The GOP wanted to enrich themselves with the watering-down of regulation and oversite.
Have we forgotten that the GOP owned Congress during Clinton??
medartist01 3 years ago
@medartist01 Clinton could have easily vetoed
bonfirejovi 1 year ago
wiki says it passed 54 to 44
marderend 3 years ago
keep reading, it says : "The final bill resolving the differences was passed in the Senate 90-8 (one not voting)..."
inebrio1 2 years ago
Bill Clinton had no Veto Power all he could do was sign
phildog67 3 years ago 2
There's a little revisionist history here. The initial bill won a narrow majority in a partisan vote (and Clinton would have vetoed that version). A few concessions were added and it passed overwhelmingly with bipartisan support. Clinton was in favor of the revised version and has recently defended signing it.
"I don't see that signing that bill had anything to do with the current crisis". - Bill Clinton, Sept 24th, 2008
zacheh 3 years ago 3
Bill Clinton is totally off his rocker if he doesn't see how repealing the Glass Steagall act was a major factor in the current crisis. You've been duped by the horse-race politics and small "concessions" that were made to pass this horrible bill.
RGMorgan 3 years ago
I've voted third party in the past three presidential elections so I don't buy into the horse-race. The reason I quoted Clinton was the previous poster implied that Clinton didn't want to sign Gramm-Leach-Bliley. This is patently false and Clinton is still defending his decision in the face of mounting criticism.
It bothers me immensely that with all current "bravado" in Congress, noone seems to be talking about repealing Gramm-Leach-Bliley, which I agree was a horrible bill.
zacheh 3 years ago
God bless the idiots we elect.
pharesc8019 3 years ago
This is right on. It was pushed forward by Republicans, rubber stamped by democrats and is probably the primary cause of the current financial melt down.
commandersprocket 3 years ago 3