"...we haven't had a hundred billion dollar banking crisis, which will surely require a taxpayer bailout, in almost twentyyears!
Not since Reagan and Bush I de-regulated the Savings and Loan industry, while brave, straight talking, ethical Congressmen like John McCain leaned on regulators to back off from doing more.
Because, remember, as Sainted Ronny Rotten used to tell us: government is not a solution to our problems, government is the problem!
So Reagan and the Reagan Republicans took that pesky ol' gubment out of the Savings and Loan industry and let the miracle of the Free And Unfettered Market work its magic. And within a couple of years, taxpayers had to come up with one hundred and twenty billion dollars--and those are 1980s dollars--as a solution to our problem."
more from a good blog here
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