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Examples
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So with the CRA which forced banks to lend or not be allowed to expand branches and the repeal of the glass-steagall act which allowed bank to sell investment products and the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 which required Fannie Mae and Freddie Mac to devote a percentage of their lending to support affordable housing you can see where this is all heading at.
Why We're In A World of Hurt Steve Hulett 2008
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Look up glass-steagall act and why it was passed then look up repeal of said act.
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The glass-steagall isn't needed in a true free market, the bank goes under if they lose too much.
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Actually, the housing bubble was created by the repeal of glass-steagall, which let commercial and investment banks operate under the same entity.
Denver Post: News: Breaking: Local haslett84 2010
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It's very trendy to say "bring back glass-steagall" and to separate the banks and swaps side and that will somehow protect against systemic risk.
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If any of you are wondering how america got here, its because we deregulated big oil when bush/cheney were in office and allowed big oil to do what it wanted. the same thing republicans did in the banks with repeal of glass steagall and look what happened the banking meltdown.
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Actually, the housing bubble was created by the repeal of glass-steagall, which let commercial and investment banks operate under the same entity.
Denver Post: News: Breaking: Local haslett84 2010
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If any of you are wondering how america got here, its because we deregulated big oil when bush/cheney were in office and allowed big oil to do what it wanted. the same thing republicans did in the banks with repeal of glass steagall and look what happened the banking meltdown.
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Actually, the housing bubble was created by the repeal of glass-steagall, which let commercial and investment banks operate under the same entity.
Denver Post: News: Breaking: Local haslett84 2010
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If any of you are wondering how america got here, its because we deregulated big oil when bush/cheney were in office and allowed big oil to do what it wanted. the same thing republicans did in the banks with repeal of glass steagall and look what happened the banking meltdown.
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