tag:blogger.com,1999:blog-8068294212497524282.post5104652898745665360..comments2024-03-16T00:52:28.977-05:00Comments on Does He Still Shit In His Pants?: April 2 Someone You Should KnowGregghttp://www.blogger.com/profile/04879761896877269846noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8068294212497524282.post-41497916254616221562009-04-03T10:45:00.000-05:002009-04-03T10:45:00.000-05:00And there is a much more recent experience than 19...And there is a much more recent experience than 1929 to serve as a cautionary tale. A financial deregulation bill was passed in the early 1980s under the Reagan administration, lifting many restrictions on the activities of savings and loan associations, which had previously been limited primarily to the home-loan market. The result was an orgy of speculation, profiteering and outright plundering of assets, culminating in collapse and the biggest financial bailout in US history, costing the federal government more than $500 billion. The repetition of such events in the much larger banking and securities markets would be beyond the scope of any federal bailout.<BR/><BR/>That was written in 1999! And look at where we are now. Amazing.Georgehttps://www.blogger.com/profile/12366738437640687114noreply@blogger.com