daddy422 Wrote:
Dec 09, 2012 5:04 PM
You do not know what you're talking about.When this 'crisis' started was in the early '90s'.It kicked into overdrive,because at the behest of the Federal Government large financial institutions began to merge again.This was in direct violation of the Glass-Steagall Act of 1933.On 11/12/1999 Clinton signed legislation repealing Glass-Steagall & replaced it with the Gramm-Leach-Bliley Act.Once again the financial institutions could merge.They were forced by D.C. to make sub primes until the end of time.Once they were in to deep,it was to late,the housing bubble burst.Sounds exactly like the Great Depression because that's exactly what they did.The Congress fixed it,then waited 66 years to break it again.I've sourced it,look it up!