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Cannonpointer
18 Jul 2014 11:20 am
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98% Macho Man
98% Macho Man
45,426 posts
RichClem » 18 Jul 2014 10:29 am » wrote:
WTF are you babbling about? Glass Steagall was repealed under Clinton.

And it made banks stronger by allowing them to diversify out of simply mortgages the very loans that caused the meltdown.
I believe the little monkey has a simpleton's grasp of what caused the meltdown. It was the repackaging of mortgages into speculative debt instruments specifically outlawed by Glass Stegall, not the mortgages themselves, which caused the melt down, little monkey.
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