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Response to Octafish (Original post)

Sun Apr 22, 2012, 01:56 AM

45. He's absolutely right

I would say as a rough estimate--this is very rough, mind you--that 99 and 44/100 percent of all the DUers who have been really looking close at the root causes of the financial crash blame Gramm-Leach-Bliley and the Commodity Futures Modernization Act for the lion's share of the responsibility for the crash. (Throw in the American Dream Downpayment Initiative, and you've covered all the bases.)

If Citigroup hadn't played in all three parts of the financial services industry (banking, investments and insurance) because its CEO thought the merger of the three sectors would destroy the economy, as in fact happened, the CEO would have been fired and replaced with someone who would.

I'm really shocked that anyone from the financial services industry would admit repealing Glass-Steagall was a bad idea.

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Arrow 46 replies Author Time Post
Octafish Apr 2012 OP
steve2470 Apr 2012 #1
Octafish Apr 2012 #15
banned from Kos Apr 2012 #2
1StrongBlackMan Apr 2012 #7
banned from Kos Apr 2012 #12
1StrongBlackMan Apr 2012 #13
banned from Kos Apr 2012 #16
cyglet Apr 2012 #23
Jim Lane Apr 2012 #31
banned from Kos Apr 2012 #3
Lawlbringer Apr 2012 #4
banned from Kos Apr 2012 #6
gratuitous Apr 2012 #5
1StrongBlackMan Apr 2012 #9
hughee99 Apr 2012 #14
Octafish Apr 2012 #19
Ruby the Liberal Apr 2012 #36
Octafish Apr 2012 #40
Ruby the Liberal Apr 2012 #44
banned from Kos Apr 2012 #8
randome Apr 2012 #11
banned from Kos Apr 2012 #10
Octafish Apr 2012 #18
hughee99 Apr 2012 #17
cyglet Apr 2012 #24
lastlib Apr 2012 #20
Octafish Apr 2012 #22
progressoid Apr 2012 #35
jwirr Apr 2012 #21
Octafish Apr 2012 #25
sabrina 1 Apr 2012 #28
Octafish Apr 2012 #29
sabrina 1 Apr 2012 #26
Octafish Apr 2012 #27
sabrina 1 Apr 2012 #30
xchrom Apr 2012 #32
Octafish Apr 2012 #38
xchrom Apr 2012 #43
NNN0LHI Apr 2012 #33
Octafish Apr 2012 #41
progressoid Apr 2012 #34
Octafish Apr 2012 #42
WorseBeforeBetter Apr 2012 #37
varelse Apr 2012 #39
LineNew Reply He's absolutely right
jmowreader Apr 2012 #45
Agony Apr 2012 #46
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