Repeal of the Glass-Steagall Act was not deregulation.

[Anarchist420]

It simply allowed the banks to engage in fraud and embezzlement so it was technically not deregulation. The state grants banks the privelege to steal peoples' money. Deregulation is when the government repeals infringement of a right, not when it allows a privelege.

Discuss.

Reagan, for example, never really deregulated. He simply granted priveleges.

 

[sohcrates]

My favorite part of repealing Glass-Steagall is that Clinton was basically forced to sign a veto-proof bill

 

[CrackRabbit]

I'd call you stupid but it isn't nice to make fun of the mentally disabled...

 

[Thump553]

Anyone else feel their intelligence decrease by ten points after reading the original post?

 

[MovingTarget]

No. It removed a rule (i.e. regulation) that forbade banks from certain types of activities.

Why we haven't reinstated Glass-Steagall after the recent financial crisis is beyond me.

 

[her209]

Reagan, for example, never really deregulated. He simply granted priveleges.

See Savings and Loans Crisis.

 

[Martin]

http://en.wikipedia.org/wiki/No_true_Scotsman

 

[dawp]

just ignore his threads and he will go away.

 

[DaveSimmons]

We've always been at war with Eastasia

 

[JEDIYoda]

It simply allowed the banks to engage in fraud and embezzlement so it was technically not deregulation. The state grants banks the privelege to steal peoples' money. Deregulation is when the government repeals infringement of a right, not when it allows a privelege.

Discuss.

Reagan, for example, never really deregulated. He simply granted priveleges.

Are you sure your not Lemon Law`s brother????