Regulations

[Archangel]

OBAMA: "Regulations were gutted for the sake of a quick profit at the
expense of a healthy market. People bought homes they knew they couldn't
afford from banks and lenders who pushed those bad loans anyway. And all
the while, critical debates and difficult decisions were put off for
some other time on some other day."

THE FACTS: This may be so, but it isn't only Republicans who pushed for
deregulation of the financial industries. The Clinton administration
championed an easing of banking regulations, including legislation that
ended the barrier between regular banks and Wall Street banks. That led
to a deregulation that kept regular banks under tight federal regulation
but extended lax regulation of Wall Street banks. Clinton Treasury
Secretary Robert Rubin, later an economic adviser to candidate Obama,
was in the forefront in pushing for this deregulation.

[Beam Me Up Scotty]

Post by Archangel
OBAMA: "Regulations were gutted for the sake of a quick profit at the
expense of a healthy market. People bought homes they knew they couldn't
afford from banks and lenders who pushed those bad loans anyway. And all
the while, critical debates and difficult decisions were put off for
some other time on some other day."

Obama was a Senator for the two years preceding his election, is he
saying he put off critical decisions for two years so he could blame
Bush for this and get elected?

He is admitting to his own incompetence, the question is who else is he
finger pointing at with this line of accusations, the whole congress or
just himself and Democrats that ran congress that last two years?

[goober]

Oh, yes, this is so true!

Post by Archangel
OBAMA: "Regulations were gutted for the sake of a quick profit at the
expense of a healthy market. People bought homes they knew they couldn't
afford from banks and lenders who pushed those bad loans anyway. And all
the while, critical debates and difficult decisions were put off for some
other time on some other day."
THE FACTS: This may be so, but it isn't only Republicans who pushed for
deregulation of the financial industries. The Clinton administration
championed an easing of banking regulations, including legislation that
ended the barrier between regular banks and Wall Street banks. That led to
a deregulation that kept regular banks under tight federal regulation but
extended lax regulation of Wall Street banks. Clinton Treasury Secretary
Robert Rubin, later an economic adviser to candidate Obama, was in the
forefront in pushing for this deregulation.