The Savings and Loan crisis was started by what? Improper leanding for home loans and corruption in the upper levels both brought on by DEREGULATION of the industry. This allowed them to give loans to people who weren't qualified and sell the mortgages easier than in the past. It also allowed the companies to lie to the people and have a plan for a bailout. Who made it happen Neil Bush (supported by his brothers (G.W. and Jeb), and his father (GWH Bush (VP at the time)) AND the Keating Five.
Who were the Keating Five? They were senators who assisted and funnelled money to Charles H. Keating, Jr. chairman of one of the S&Ls. The other leaders of the largest were also supported, however, they only really investigated the one.
Senator John McCain was one of the leaders of these five senators who supported deregulation then and still supports it now... It was completely wrong then and it was done even worse now!
This is precisely what happened in this current issue. They want deregulation until their buddies can profit from a bailout. We must impeach the president, vp, and all his minions who allowed this to happen. We must hold the deregulators accountable and bring this nation back to for the people by the people from being for the rich by the rich...
1 comment:
How come no one is talking about McCain and the S& L? If it was the other way around, the Reps wouldn't be shutting up about it!!
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