You've already been debunked and yet here you are repeating the nonsense. Thew funniest part is you have it backwards, while you blame Bush for not forcing congress to regulate, Obama hired the culprits.
Didn't deregulation earn Rubin $190 million at Citigroup. http://www.iht.com/articles/2008/11/24/business/rubin.php Geithner, Summers and Orszag have all been followers of the economic formula that came to be called Rubinomics: balanced budgets, free trade and financial deregulation. ... Instead of deregulation, Obama has sworn to usher in a period of re-regulation, to avoid the freewheeling risks that Citigroup and the rest of the financial industry undertook after Rubin, with Summers, helped tear down the regulatory walls between banks, brokerages and insurance companies and freed them to trade in unregulated and little-understood derivatives worth trillions of dollars. On Wed, Feb 25, 2009 at 8:04 AM, Gruss Gott <grussg...@gmail.com> wrote: > >> RoMunn wrote: >> Why don't you try arguing policy instead of hurling insults? You have yet to >> provide any positive discussion on this thread. >> > > You took those as insults? But that's your thing! You're king of the > narrative! Seriously, you're excellent at it. > > As to policy, we've already covered this ad nauseum: > > 1.) Clinton dismantled the barriers between commercials banks, > investment banks, and insurance. > > 2.) Phil Gramm and Clinton removed all oversight and regulation from > the new combined entities. > > 3.) The unregulated "shadow banking system" was, last September, > larger than regulated banking system. > > So you see how your narrative ignores facts and reality? But Lutz > know what you like. > > See, it's a great talking point to say "most regulated blah, blah, > blah". Like all good lies, it has a hint of truth: there is a > regulated banking system. > > It's just that the cause of the economic implosion happened to have > nothing to do with the regulated banking system; it was unregulated > one that caused the problem. > > And I've already explained to you that, as an example, with the right > resume anyone can write $100,000,000 of financial insurance with > $100,000 down - totally unregulated. And when they inevitably can't > pay out, they can close up shop and keep their premiums. In fact, the > way it's going, they don't even have to close up shop since you'll > bail them out. It's a sweet deal, and it's all still perfectly legal > today. > > So if you're telling me that the problem is that I should be able to > underwrite even more with that same $100,000 then I'm guessing I > better get rollin' because your visiting hours are probably almost > ove ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:289749 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
