Following Up on the AIG Hearing
Loading...
Link to this comment:
Top Comments
All Comments (23)
-
This woman makes idiots look smart.
-
what an idiot!!!!
-
Slick Willy signed them both into law. But don't be to hard on him. You see while Gramm Leach Bliley did in fact contribute to this recession it also helped soften the blow by allowing larger commercial banking institutions to buy up the smaller ailing investment banks thereby staunching the bleeding process at those banks.
-
The Gramm Leach Bliley Act allowed AIG to come in and underwrite those mortgage backed securities with credit default swaps. Essentially it allowed non banking institutions to become involved in banking activities. Funny thing is Gramm Leach Bliley wasn't signed into law by Bush. Neither was the Commodities Futures Modernization Act which deregulated those credit default swaps allowing AIG to over leverage itself at rates of 30:1 or greater.
-
It was signed into law by Jimmy Carter and beefed up under Bill Clinton. Fannie and Freddie (created and run by liberal democrats) bought up those loans and began packaging them together and selling the securities they had created on the open market which encouraged other investment banking institutions like Bear Stearns to follow suit.
-
As usual with liberal democrats you fail to acknowledge the relaxed lending (no income no job loans handed out as a result of the CRA) regulations that greatly contributed to this mess. The Community Reinvestment Act was pushed by community organizers just like Obama and the people at ACORN that now want the American taxpayers to bail out people that bought homes they knew they could never afford.
-
Amen to that...
-
once the govt started with bear stearns they picked the right one first because all you have to do is take that firms initials and you get the whole fairy tale BS
-
Whoa whoa whoa, you can't just lie like that. The discount window wasn't "opened," it's always been available to private banks. That's what it's for. As Bernanke explained, banks just didn't want to use it because it may look like they were in trouble. Although, they were.
0:54ScottieTails Shoot-outby ScottieTails287,755 views
Featured Video- 5:36AIG Hearing with Geithner & Bernankeby RepMicheleBachmann19,548 views
- 1:32Secretary Geithner's Flip-Flopby RepMicheleBachmann2,892 views
- 2:57Discussing Federal Bailouts on America's Nightl...by RepMicheleBachmann1,031 views
- 7:23Michele Bachmann and James Carville Go Head-to-...by RepMicheleBachmann35,788 views
- 5:31Judy Biggert Questions Geithner, Bernanke on AIGby JudyBiggert735 views
- 5:49Congresswoman Bachmann Questions Geithner & Ber...by Travinyle14,206 views
- 1:47Democrats At The Trough: Spotlight on Earmark A...by HouseConference16,417 views
- 4:06Michele Bachmann: "CO2 Is A Natural Byproduct o...by climatebrad250,404 views
- 2:01The Bachmann Effectby tpmtv59,270 views
- 5:37Congresswoman Questions Geithner on Constitutionby AmericanNewsProject7,065 views
- 0:17Michele Bachmann calls Terri Schiavo "healthy"by Skylark30342,573 views
- 4:28Rep. Bachmann Previews Tuesday's AIG Hearingby RepublicanStudyComm203 views
- 2:54Keith Olbermann - Worst Persons- Sean Hannity-M...by ImAmoderateLiberal5,847 views
- 8:01Michele Bachmann "After 2013 You Won't Be Able ...by MoxNewsDotCom12,339 views
END THE FEDERAL RESERVE!
timDOGcrane555 2 years ago 6
Wish she was from Pennsylvania so we had something to be proud of!
joppman845 2 years ago 3