As far as the 07 - 08 recession that was Old Bil
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Posted On: 01/10/2017 8:05:10 PM
As far as the 07 - 08 recession that was Old Billy
Bill Clinton
One Democratic president, Franklin Roosevelt, put a cage round Wall Street after its excesses in the 20s led to the Wall Street crash and the Great Depression. Another Democrat, Bill Clinton, gave Wall Street the cage keys.
After a fierce lobbying campaign, Clinton agreed to repeal the Glass-Steagall Act, which ensured a complete separation between investment and retail banks. The move heralded the coming of superbanks, huge behemoths that took in retail deposits and used them to take highly-leveraged punts in the markets.
To make matters worse, Clinton beefed up Jimmy Carter's 1977 Community Reinvestment Act to force lenders to take a more relaxed approach to disadvantaged borrowers. Liberalised banks plus millions of new sub-prime customers equalled one big problem.
President Obama has the largest deficits. ...
President Bush is next, racking up $3.293 trillion over two terms. ...
President Reagan added $1.412 trillion in deficits, nearly doubling the debt. ...
LOL You better get a better Fact checker
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