Carter

‘April 1, 1980: President Carter Signs the ‘Depository Institutions Deregulation and Monetary Control Bill’ into Law’

Notr the date. How appropriate.

ADDENDUM

NAFTA was enacted in 1993.

Ummm.. did the saving and loan industry fail under a Dem president…Yes (Jimmy Carter) Clinton had the banking dereg and also signed N.A.F.T.A. (nov.1983) under his Administration… another wonderful screw up.

Ronald Wilson REAGAN.

count the letters in each of his names

6 6 6

Bill Clinton.

Carter / Clinton

Reagan. The first banking industry deregulation by Reagan resulted in the saving & loan meltdown of the ’80′s. During the 90′s when all the further deregulation of the banking industry took place we had Republican majorities in both houses of Congress. Republican Phil Gramm was the prime architect of most of this deregulation. Name me any Republicans who didn’t vote for the repeal of the Glass-Steagall Act. I’ll bet that you can’t.

It isn’t so much who was president when deregulation occurred. It’s more what happened under which president’s watch with little regulative oversight on Wall Street.

If I build a race car and never damage it, then I give it to you and you destroy it through negligence, whose fault is it that the car got destroyed?

deregulation in the finance sector has been ongoing for the past 3-4 decades. lenders were considered “risky” back in the 70′s and 80′s when they carried at debt ratio of 7:1 today some lending institutions have gone as high as 40:1. which means they lend out 40 dollars for every 1 that they actually have in assets.

I know you want us to answer with Bill Clinton, but he did that because he expected more integrity from the lenders and did not expect them to be predators who lured unsuspecting buyers into purchasing homes with an added gimmick. I suppose he should have realized that the GREED would be stronger than good business practices, but it gives credence to the expression, “You can fool some of the people, some of the time…etc”. Obviously bankers need oversight and regulations to curb their self-serving practices!

It was Reagan’s idea – and also the reason for the S&L scandal, the last time a whole bunch of banks failed, the stock market and real estate market collapsed.
People were smart enough to leave that idea until BUSH CAME ALONG!!!