In 1999, Biden voted to repeal the banking regulation that could have helped prevent the recent collapses. - The Great Awakening - Where We Go Qne, We Go All!

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In 1999, Biden voted to repeal the banking regulation that could have helped prevent the recent collapses. (media.greatawakening.win)

posted 1 year ago by penisse 1 year ago by penisse +240 / -1

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– bubble_bursts 13 points 1 year ago +13 / -0

The biggest thing this bill did was to remove parts of Glass–Steagall Act of 1933 that enforced separation between banking companies, securities companies and insurance companies.

By removing this barrier, banks can take your money and play the casino. This is why 2008 happened, and everything since then including the current crash.

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– AdAstra_PerAspera 4 points 1 year ago +4 / -0

Theres many reasons 2008 happened, including the government coercing banks into subprime mortgages, and also the rating agencies mass misappropriating value in MBS's and CDO's.

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– NoGardE 2 points 1 year ago +2 / -0

Along with the FDIC continuing to subsidize the fraudulent Fractional Reserve Banking system, which should have gone the way of the dodo after 1929.

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