^ this started under Clinton when they removed all regulations which kept commercial banks separate from investment banks and let all of them do whatever they felt like doing, including proprietary trading of same bets their customers were making.
Thanks to PHIL GRAMM, HOWGOZIT, who blocked any regulation of derivatives. If you’re going to blame Frank and Dodd (who were convinced by the Republican colleagues who were already there) at least try to be honest and include Gramm.
rockngolfer over 13 years ago
Too little, too late.
believecommonsense over 13 years ago
^ this started under Clinton when they removed all regulations which kept commercial banks separate from investment banks and let all of them do whatever they felt like doing, including proprietary trading of same bets their customers were making.
Motivemagus over 13 years ago
Thanks to PHIL GRAMM, HOWGOZIT, who blocked any regulation of derivatives. If you’re going to blame Frank and Dodd (who were convinced by the Republican colleagues who were already there) at least try to be honest and include Gramm.