[Archive]

Posted By: Pennsylvania Ted

Me......

" I would rather that the 100 Million middle-class working people be given $10,000 TAX rebates (that's a Trillion),
then give these $$$$$$ to the culprits and institutions that created this economic mess. - Ted Z "

Richard......

"Well at least we can agree on something Ted, though I must say I think that deregulation caused these problems
and that has gone on with greatly increased velocity in the past eight years. In addition to deregulation I guess
you have to toss in greed also."


Deregulation in the Housing and Stock Markets goes back further than the past 8 years. It goes back to 1979 when
Carter initiated the Community Reinvestment Act. And, was exploited to a higher level during the Clinton years.

Furthermore, the practice of Mortgage Co's "flipping off" their primary mortgages to speculators during the 1990's
thru to the present exacerbated this economic demise.

I don't know what to make of your above "agreement" with me....but, I think you can agree with my description of
the causal effects of our current economic situation.