Home foreclosures

[RIJIMMY]

Originally Posted by EarnedStripes44

BINGO!!!! I believe you maybe referring to the Gramm-Leach-Bliley Act, which peeled back some restrictions put in place in early 30s.

I couldnt agree more with the learning from history part. My old man used to tell me all the time when I was teenager that "you kids think your 1st to ever do it".

That was why Clinton was on Time's "people to blame" list.
Although its Bush getting all the deregulation blame.

[spence]

Originally Posted by RIJIMMY

That was why Clinton was on Time's "people to blame" list.
Although its Bush getting all the deregulation blame.

It was a Republican sponsored bill which the Dems in congress mostly opposed. You can't really blame Clinton for signing it into law as the economy was cranking at the time and he wasn't about to get in the way of industry.

There's not much difference between Clinton and Bush on policy here, although it was under Bush that the sub-prime lending really took off. Some of this could have been just timing though.

-spence

[detbuch]

Originally Posted by spence

It was a Republican sponsored bill which the Dems in congress mostly opposed. You can't really blame Clinton for signing it into law as the economy was cranking at the time and he wasn't about to get in the way of industry.

There's not much difference between Clinton and Bush on policy here, although it was under Bush that the sub-prime lending really took off. Some of this could have been just timing though.

-spence

Actually, the Dems in congress did NOT mostly oppose Gramm-Leach-Bliley. They, along with the Republicans, voted, OVERWHELMLINGLY for it. The total, combined vote of both Congressional Houses was 450 for and 64 against. A small minority of both Dems and Repubs voted nay.

[spence]

Originally Posted by detbuch

Actually, the Dems in congress did NOT mostly oppose Gramm-Leach-Bliley. They, along with the Republicans, voted, OVERWHELMLINGLY for it. The total, combined vote of both Congressional Houses was 450 for and 64 against. A small minority of both Dems and Repubs voted nay.

That's simply not true. Democrats only supported the bill after the Republicans made many concessions. The bill had all Republican sponsors and the initial version only recieved a single Dem vote in the Senate.

But as I've said all along, this is a bi-partisan issue. The simple fact remains that it was a contributing factor among many.

-spence

[buckman]

Originally Posted by spence

That's simply not true. Democrats only supported the bill after the Republicans made many concessions. The bill had all Republican sponsors and the initial version only recieved a single Dem vote in the Senate.

But as I've said all along, this is a bi-partisan issue. The simple fact remains that it was a contributing factor among many.

-spence

So your saying they were overwhelmingly against it before they were overwhelmingly for it.