re: #171 Wendell Zurkowitz ((slave to the waffle light))

Do recall that Glass-Steagall was repealed under Clinton…

But it was the totally lax regulatory climate under Bush that allowed things to overheat and collapse.

As long as home mortgages are subsidized by mortgage interest tax deductions and federal housing loan guarantees, that money should not be allowed to be used as collateral for speculative purposes; it distorts the market and leads to unsustainable bubbles.

It was repealed under Bill Clinton with a veto-proof Republican Congress.

Moreover, by the time that bill came up, all but two of the Act’s provisions had been struck down by the Supreme Court.

In my opinion, Bill Clinton should have vetoed the bill, if nothing else but to show that the GOP was not looking out for the interests of the voters with a veto override.