ILLUSTRATION:
Christoph NiemannRoll Call(Read about Lilly Ledbetter
here.)
And here is another
roll call on
Sen Gramm's bill for deregulation, or as he calls it
"Act to enhance competition in the financial services industry." (The Community Reinvestment Act was in effect for 30 years without causing any problems whatsoever. It was not until mortgage brokers, realizing how much money could be made by making home loans, bundling and selling them, and avoiding the risk of holding them, began making loans to anyone with a pulse and even to some without one.) This idea of faulting the CRA originated in the anti-regulation wing of the far right, and the goal is to blame government intervention for the current economic meltdown, and to score political points by blaming Democrats.
Is more, or less regulation needed on Wall St.? In the long run it won’t matter what the American public is thinks about this. Wall St. will need stronger regulations if the rest of the world is going t…