Reports from AIG, Leheman Bros, JP Morgan show the 106th Congress caused Financial...

D

Dar

New member
I think there were a lot of reasons, and suggesting there weren't only shows you have faulty data. Did you know they are now allowing the same thing under Obama, with different instruments? We are doing it all over again.
 
...Crisis. What do you think? The 106th Congress of which both the House and Senate were Republican controlled passed a law making it legal to literally gamble and speculate on stocks. This has been illegal since the early 20th Century and was a felony. In 2000, the last day of the 106th Congress the Republicans squeezed this through with a veto proof margin. Now reports from all of the failed companies point this as the only reason that they failed, not a number of different ones, but the ONLY reason, They basically made bad bets. These Hedge Fund Managers were and are the same as a booky or gambling parlor. Should the Congress now restore the regulations that the Republicans put in that ruined our financial markets? Will Republicans balk at fixing the law that they made to let these companies gamble away America;s future?
 
Sad that so many of the Senators and Representatives are still warming their seats in Congress.

A veto-proof margin? How do you get that one? There were 55 GOP Senators, 45 Dems. 223 GOP Representatives and 211 Dems. That's a 51% majority in the House.

And if Obama is being hailed as the cure for the Financial Crisis, shouldn't you then be blaming Clinton for the cause since it happened on his watch?
 
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