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post #125 of (permalink) Old 05-22-2010, 12:23 AM
country flag Chip_s_m
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Re: Credit crisis in Greece, others to follow...?

Originally Posted by Rrrainer View Post
well, one of the most era-defining bills, the gramm-leach-bliley act, was orchestrated by three republicans. sure, clinton was foolish enough to actually sign it, but it was masterminded by the pro-business-lobby across the gop. hank paulson and many others have confessed that this thing might've been the actual trigger concerning all the madness in the financial sector.

i'll need to get back to you tomorrow or sunday as it'd take quite some time to check what you've come up with. but i will.
Yes, the repeal of Glass-Steagal. 90 Senators and 362 Representatives voted for Gramm-Leach-Bliley. That's a lot of Democrats voting for it, not to mention Clinton signing it. Does that make it a Republican bill? Going by that logic, Iraq would be a Democrat war.

And btw what's wrong with being pro-business? What would happen if businesses didn't do well? So long as a business is earning their profits honestly (i.e. not using government officials to stifle competition or funnel taxpayers dollars to it, which I think we both can agree is the case with Goldman Sachs) then what's the big deal? If a business earns it's profits honestly then how are you harmed?
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