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originally posted by: 3NL1GHT3N3D1
I feel like Reagan and his administration are the ones who started the domino effect that has led us to our current situation, a corporate oligarchy where deregulated corporations own the government and push policies that benefit them at the expense of the middle class.
Yeah, things were good for a little while but we see where it has led us to today. The 2008 crash was a direct result of Reagan's deregulation policies when he became president.
Just my opinion but I think he's one of the worst presidents we've had in hindsight. He really screwed my generation over.
originally posted by: 3NL1GHT3N3D1
The 2008 crash was a direct result of Reagan's deregulation policies when he became president.
originally posted by: 3NL1GHT3N3D1
a reply to: Gothmog
So you're saying Reagan's deregulation policies didn't enable corporations to make risky bets on the market that led to the 2008 crash? If Reagan hadn't have deregulated the private sector then the 2008 crash wouldn't have happened because the practices being performed would have been illegal.
originally posted by: starwarsisreal
Well it's not just the Reagan Administration hemorrhage the US economy but also the Clinton Administration through the creation of NAFTA.
originally posted by: Gothmog
No NAFTA nor Clinton had anything to do with the deregulation. Yes , the houses for everyone chant did start under Clinton. But , not from Clinton. Wise man that Bill , sometimes.
originally posted by: AugustusMasonicus
originally posted by: starwarsisreal
Well it's not just the Reagan Administration hemorrhage the US economy but also the Clinton Administration through the creation of NAFTA.
NAFTA had nothing to do with bank deregulation and the housing market.
originally posted by: 3NL1GHT3N3D1
I'd have to say that Reagan paved the way for Glass-Steagall being repealed.
originally posted by: starwarsisreal
The bank deregulation and the housing market along with NAFTA and the outsourcing of many jobs to Third World Nation are some of main reasons why the US economy got damaged. Its not just Reagan who destroyed the economy like what enlightened said.
The foundation of it can be traced back to Fannie Mae and Freddie Mac's founding in 1932 and 1970 respectively
policies of Greenspan
originally posted by: Gothmog
Not their founding , what they had become under the Bush admin