The Glass-Steagel Act separated investment and commercial banking from its inception in 1933 until its repeal in 1999 under Bill Clinton. This particular blue dress made possible the residue we are living with today in our credit markets. Sit back and enjoy the next five minutes for a new and exciting Saturday morning cartoon.
Saturday, February 21, 2009
The Credit Crisis Animated
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1 comment:
This is infuriating, acording to this guy it was the greedy investors that caused the problem. What about the bleeding heart liberal government that gave us the CRA. Banks were forced, yes forced , into lowering thier standards. After all, everyone should be able to buy a house, even if they had made a mess of thier financial lives.
Come America wake up. When has government intervention ever helped the free market.
Teacher
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