ManusJustus on 22 September 2008
Why shouldn't we blame Republicans when their idealogy is to deregulate everything? Deregulation and the rolling back of Great Depression oversight is what led to the financial crisis in the first place (Republican idea), and obviously both sides agree (Republicans have switched positions) that regulation is the best way out of it.
1933 Glass-Stegall Act regulated the investment banking industry.
1999 the Republican passed the Gramm-Leach_Bily Act (Phill Gram is McCain's economic advisor) which repealed the Glass Stegal Act.
It didnt take long for the deregulated market to collapse.
