Originally Posted by Jungle Shift Jet
How did deregulation "specificly" affect the crisis, of course no lib can ever tell you that. They just like to repeat "Glass-Steagall" because it makes them feel smart, maybe they rhyme it with "Steven Seagal".
Of the firms that collapsed, most were strictly Investment Banks or Commerical Banks, not diversified. Truth be told without Glass-Steagall the broken pieces of Bear, Lehman, etc would never have been salvaged so quickly. Other countries never had GS or got rid of their version and seem to be managing OK or have problems unrelated to GS. So many Americans would not have access to financial services and instruments previously reserved for the "1%" as well.
Again, when firms are forced to make loser bets by (D) the recurring pattern is that losses will occur and be socialized (the taxpayer picks up the tab one way or another)
You nailed it. Liberals love to point to deregulation but the problem is they can't point to what regulation could have prevented the crisis.