Glass-Steagall was rescinded under the Clinton admin as part of a budget deal with the repub congress. So many exceptions had already been granted as to render it moot, anyway. They'd been pushing deregulation for decades resulting in the S&L scandal and the junk bond collapse in the 80's, the LTCM collapse in 1998, Enron, Global Crossing and a few other misadventures. All examples of financial deregulation at its finest.
It's important to understand history so we won't repeat it, don't you think?
So, uhh, what sort of new thinking do Repubs offer us this election cycle, anyway? Have they made any sort of changes to their basic philosophy, something that might indicate they don't just plan on more of the same thing that got us here?
Are they even the slightest bit chagrined by their own performance when in power the last time? Any admissions of error beyond Greenspan's remark that there had been a "flaw" in his thinking?
Not that I've noticed, and apparently none that their loyalists can cite. Of course, I could be wrong. Perhaps you'd care to lay out what repubs see as needing to be done and how they intend to accomplish it.
They've been raving about budget deficits since Obama took office- tell us about how extending the Bush taxcuts will ameliorate that, just for starters.
It's important to understand history so we won't repeat it, don't you think?
So, uhh, what sort of new thinking do Repubs offer us this election cycle, anyway? Have they made any sort of changes to their basic philosophy, something that might indicate they don't just plan on more of the same thing that got us here?
Are they even the slightest bit chagrined by their own performance when in power the last time? Any admissions of error beyond Greenspan's remark that there had been a "flaw" in his thinking?
Not that I've noticed, and apparently none that their loyalists can cite. Of course, I could be wrong. Perhaps you'd care to lay out what repubs see as needing to be done and how they intend to accomplish it.
They've been raving about budget deficits since Obama took office- tell us about how extending the Bush taxcuts will ameliorate that, just for starters.
