10/04/2011
I am NOT an Obama supporter, but this article is over the top. To be clear: although Goldman Sachs was the second largest contributor to the Obama Campaign, the deregulation that facilitated the great collapse of the economy did NOT happen under Obama's watch. The two key pieces of legislation:
1. the repealing of The Glass-Steagall Act, in 1999, which was replaced with The Gramm-Leach-Bliley Ac...t (GLBA), also known as the Financial Services Modernization Act of 1999, effectively made predatory lending legal, thereby creating the basis for the subprime home mortgage crisis that cost taxpayers trillions of dollars: http://bit.ly/YesGlassSteagall
2. The Commodity Futures Modernization Act of 2000: which not only removed derivatives and credit default swaps from the purview of federal oversight, on page 262 of the legislation, Congress pre-empted the states from enforcing existing gambling and bucket shop laws against Wall Street. http://bit.ly/WeGotScrewed
If the Occupy Wall Street protesters truly believed in the things that they are proclaiming, then they would be calling for the immediate resignation of Barack
