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Thursday, October 09, 2008
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Bush and "Financial Deregulation"

Would someone please be kind enough to mention one specific piece of financial deregulation that took place under the Bush administration that caused the havoc we are currently in?  I ask that if you respond, you name the particular regulation that was rolled back, the approximate time this was done, and reasons why this caused part of the current melt down.

# Posted at 12:08 PM by Nick  |  Comment Feed Link 8 Comments  |  No Trackbacks

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Thursday, October 09, 2008 12:54:21 PM (Central Daylight Time, UTC-05:00)
There you go, using logic again.
Thursday, October 09, 2008 1:34:04 PM (Central Daylight Time, UTC-05:00)
But Nancy and Barney told me it was Bush's fault!!! They would never lie to me and certainly neither would Obama!
Thursday, October 09, 2008 2:09:19 PM (Central Daylight Time, UTC-05:00)
I can just see all the libs furiously googling away!

I gotta steal this.
Thursday, October 09, 2008 2:12:08 PM (Central Daylight Time, UTC-05:00)
I don't think there actually is an example... but I'm not trying to do this as a gotcha. I really want to know. Is there one? What was it? Please... tell me. Somebody.

After all, if there was this "culture of deregulation" as Obama has said, then it ought to be easy to pull out multiple examples. But honestly, just one will suffice.
Thursday, October 09, 2008 9:26:28 PM (Central Daylight Time, UTC-05:00)
There isn't one. I've asked the same question. This is, however, the damage that libertarians (of which I am one as well) have caused for going into bed with Republicans. We have tarnished free markets, and the country will end up paying for it.
PaulNoonan
Friday, October 10, 2008 8:31:50 PM (Central Daylight Time, UTC-05:00)
Take a look at this article - I don't know if you can actually blame this rule change on Bush but it certainly happened under his watch -
http://www.nysun.com/business/ex-sec-official-blames-agency-for-blow-up/86130/

I also don't know if you can blame all the havoc on this rule change but I think it would be fair to say that it certainly was a contributing factor.


Trudy
Monday, October 13, 2008 12:01:52 PM (Central Daylight Time, UTC-05:00)
Thanks Trudy for being the only person to cite an actual example. You're right in that its hard tell if and how much of a contributing factor this was, especially in comparison to other factors. I'm going to research this one some more.
Friday, October 24, 2008 9:44:55 PM (Central Daylight Time, UTC-05:00)
I can tell you about proposed regulation of GSEs (Government Sponsored Entities-Fannie Mae & Freddie Mac) in the Senate. Republicans were calling for regulation and reform while Democrats were pushing back. See YouTube link: http://www.youtube.com/watch?v=_MGT_cSi7Rs

The real vote folks should be examining in the Senate is GSE reform. McCain voted for reform of these Government Sponsor Entities while Obama’s vote was typical – Present.
Doug
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