Republicans Take Over House Ready to Spar With Obama

[mookiemookie]

Originally Posted by gimpy117

Also, the collapse...it isn't necessarily congresses job to keep the pulse on the market. There government agencies that are supposed to keep track of these things...Like the FTC. Who had chairmen who were appointed during the bush administration. where was that oversight by the republican party?

It was the idea of radical de-regulation and the insane idea that corporations could self regulate themselves that helped cause the collapse.

• Investment banks lobbied the SEC to get rid of leverage rules. The government agreed. Many levered themselves out of business.
  
• The Fed did not do it's duty in enforcing underwriting rules for banks. They let the industry self regulate itself. The industry self-regulated itself over a cliff.
  
• Glass Steagall was repealed, allowing for Wall Street and Main Street banks to become one. They self regulated themselves into becoming too big to fail.

And now Republican senator Darrell Issa of California has sent letters to more than 150 companies, trade groups and research organizations asking them to identify federal regulations that they wanted to see repealed or rewritten.

They just don't learn.