Originally Posted by VRPdommy

And can you name the legislation that was repealed in 1999 that allowed them to have no capital reserves (whereas it was 20%). I believe they called it releasing liquidity.
It also allowed them new tools (financial instruments as they called them) to make the loans and sell them to the government, then make low risk bets that they would indeed fail.

Don't worry, they will do it again and your going to pay for it again, because you have to. It just won't look the same nor be called the same. The names will change to protect the guilty. Since nothing has really changed.

If you don't already know the name of that legislation, you are part of the problem.
Let me help you out !
https://en.wikipedia.org/wiki/Gramm%...0%93Bliley_Act

Let me help you some more...
https://www.c-span.org/video/?153587...s-bill-signing

Pay attention to Phil Gramm , Sarbanes & Summer

It's no wonder how we got here since most do not know much about the legislation that is changing their life. But they do know how to argue uselessly !
Sometimes, you get just what you deserve.