13 Mar 2023 6:13 pm
Let the computer explain it to detractors a little more for you:Cannonpointer » 13 Mar 2023, 5:36 pm » wrote: ↑ Oh, the FDIC is actually pretty well run, I believe. They manage risk quite well - when congress doesn't **** in their gravy bowl.
During the half century of FDR's game rules, which ended during the reagan years, there were ZERO bank failures that could not be handled in house, by the FDC, with the nation's banks' own funds. It wasn't until reagan's second term that we had the first PUBLIC bailout of banks in over fifty years, which was engineered by the bush clinton crime family under the new rules - which we are still under - commonly referred to as reaganomics and/or trickledown economics and/or supply side economic and/or conjob ***. That was the whitewater savings and loan fiasco - not the first great crime of the bush clinton crime family (see the pulitzer winning san jose mercury news' investigative report showing oliver north was the point man in smuggling medellin cartel coke into the states by the cargo-plan-load, which the CIA taught los angeles nigs to turn into crack).
@Skans the bolded part is in answer to your curiosity about what I might POSSIBLY see good in FDR.
The world's largest middle class in history occurred under his game rules, and has eroded steadily under reagan's - which are still in effect.
The Glass-Steagall Act (also known as the Banking Act of 1933) was a law passed in response to the Great Depression that sought to prevent commercial banks from engaging in investment banking activities or vice versa. The act separated the two activities, creating a division between commercial banks that hold customer deposits and make loans, and investment banks that engage in underwriting, trading, and other investment activities.However, during the Clinton administration, there was a push to deregulate the financial industry, which led to the repeal of the Glass-Steagall Act in 1999. This repeal removed the barriers between commercial and investment banking, allowing financial institutions to engage in a wider range of activities.The consequences of this deregulation were significant. Banks became too big to fail, and the risks they could take increased, leading to the 2008 financial crisis. The repeal of the Glass-Steagall Act allowed banks to engage in risky investments, which caused them to collapse and ultimately required government bailouts to prevent the entire financial system from crumbling. The problems of deregulation highlight the need for strong regulatory oversight to safeguard the economy and prevent widespread financial collapse.
Nothing is easier than defending the status quo.