Posts Tagged ‘Banking Deregulation’

Hey John, the Financial Services Modernization Act of 1999 fostered the Morgtage problem— Wall Street just rode the wave

April 19, 2008

From The Washington Times McCain blames ‘greedy’ for recession By Stephen Dinan April 14, 2008 click to read more.
U.S. Senator John McCain, R-Arizona, addresses the Associated Press annual meeting and answers questions of reporters during the AP Annual Meeting at the Washington Convention Center. (Astrid Riecken/The Washington Times)       Sen. John McCain this morning said “greedy” Wall Street investors are partly to blame for what he said is probably an economic recession the nation is now suffering.     “There has to be a modification of the greedy behavior of some of these people,” he said, using the word “greedy” repeatedly in remarks to the Associated Press annual meeting at the Washington Convention Center today. Is McCain out of touch?

Feds Get More Power—like that’s a good idea.

March 29, 2008

Now the fuckers that gave us the war and whittled away social programs are protecting their ASSets further by defining the money rules so they loose less and the bottom 50% loose more.  Where was this protection in 1998?  Thank you Reagan for banking deregulation. Treasury Dept. Plan Would Give Fed Wide New Power By EDMUND L. ANDREWS Published: March 29, 2008 A plan that would give the Federal Reserve broad authority to oversee financial market stability could expose Wall Street to new scrutiny, but it avoids a call for tighter regulation.