re: #153 Bagua

That is a very partial and partisan summary. While those were factors, they were not the only or even the major factors. Nor did the various agencies collude to let this happen, rather, they failed to cooperate and coordinate which contributed to the disaster.

With out the repeal of the law preventing banks from operating in more than a regional capacity, and then the law preventing banks from being investment and lending banks at the same time we wouldn’t have ‘too big to fail’

Without the drive to ‘deregulate’ everything in sight CDS would have been treated as other insurance and required to have proper reserves.

Without the changes to leverage, accounting and reserve requirements we wouldn’t have had the massive over leverage.

I’ll have to dig for a bit (and it will take awhile, as i’m scheduled to go get beatup for 3 hours [black belt testing]) but when a republican conservative operative posts numerous public papers ESPOUSING EXACTLY THE DEREGULATION THAT OCCURED, and how to bring it about, and then the various agencies go ahead and DO EXACTLY WHAT HE SAID HE WAS GOING TO DO, you can’t help but get pretty partisan about it.