On 1/16/2010 12:37 PM, Revivul wrote:

I was in mortgage banking at the time.

The banking industry wanted the noose off, from around their necks, so
they could be free to make as MANY LOANS and as MUCH MONEY as humanly
possible.

They lobbied ... fiercely ... for the repeal of Glass-Steagall Act,
among other things, and the passage of Gramm–Leach–Bliley Act, among
others.

Clinton was an idiot for going along with the notion, but -- make no
mistake about who pushed for every single bit of at least this part of
the meltdown.

We privatized profits, and we socialized loss.

Good way to put it ... so damn true it makes you want to scream in
frustration.

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