Regarding regulation: People forget the role of:
Depository Institutions Deregulation and Monetary Control Act of 1980
Garn-St. Germain Depository Institutions Act of 1982
Tax Reform Act of 1986
And lets not forget the deregulatory efforts of the Keating Five (4 of whom were Democrats, the 5th being J. McCain)
The economic mess is not the fault of one party.
Gramm/Leach/Bliley — the bill that repealed Glass Steagall — was a fully bipartisan effort. It passed the Senate 90-8.
Had every Senator voted down party lines the bill would have failed 56-44, and Clinton could have vetoed it. He wouldn’t have though, because he later voiced support for the bill.
It is comforting for the left to blame Bush and the GOP, but this is Americas mess — the fault lies with both parties as well as the electorate who put them in power.
so the economy went down because of deregulation?
if only the government was there to protect us, we’d be in great shape right?