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I don’t know if they have much choice at this point. The damage was done by the democrat inspired deregulation back in the 1990s. This disaster didn’t just emerge overnight; it’s been brewing for a while.

We can absorb the losses and try to maintain some stability in the financial markets, or we can just crash and burn.

We may not like having to drink poison, but at least we have our choice.

The damage was done by the democrat inspired deregulation back in the 1990s.

And you fall in to the trap that keeps politicians fat and happy -- party-zan politics. Dems blame Pubbies. Pubbies blame Dems. And the politicians of both parties laugh all the way to their padded off-shore accounts.

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from Wikipedia:

The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub. L. No. 106-102, 113 Stat. 1338 (November 12, 1999), is an Act of the United States Congress which repealed the Glass-Steagall Act...

The interesting element, that many fail to mention, is this:

Gramm (Republican)-
Leach (Republican)-
Bliley (Republican)

The Republican Congress passed the laws (House & Senate versions) and the full Congress passed the compromise bill.

from Wikipedia:

The bills comprising the act were introduced in the Senate by Phil Gramm (R-TX) and in the House of Representatives by James Leach (R-IA). The bills were passed by a 54-44 vote along party lines with Republican support in the Senate and by a 343-86 vote with bipartisan support in the House of Representatives. Nov 4, 1999: After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. The final bill resolving the differences was passed in the Senate 90-8-1 and in the House: 362-57-15. It was signed into law by President Bill Clintonon November 12, 1999.

The blame is on both parties, each of whom have been robbing the treasury for years.

Remember Enron and World Global? They were blamed on Clinton. Clinton has been out of office almost as long as he was in office. It is Bush's watch. It has been Bush's watch since 2001.