Tag: Bill Clinton Glass Steagall
President Clinton’s economic policies directly contributed to the housing bubble and the current recession/depression. Not only did he sign the law repealing the Glass-Steagall Act of 1933, but also his administration pushed for Fannie Mae to ease credit requirements for home loans to minorities. This led directly to the housing bubble and collapse, and the subsequent Wall Street bailout.
Wall Street adds no value to the world. They just take the money of anyone naive enough to entrust them with it. Your pension, your 401K, your IRA – they will fleece you of them all. They are unregulated sharks. It is what they do. They are gutless, soulless, thieves. Leeches.
This PBS Front Line Episode explains how Bill Clinton and the repeal of Glass Steagall has led to this destructive casino we call Wall Street.
Also check out the recent story by Matt Taibbi of Rolling Stone: The Scam Wall Street Learned From the Mafia