How Low Can It Go?

[GMScud]

Originally Posted by Buster

Can we please acknowledge that the economy was going great until the Democrats took over Congress?

You should. It's a fact.

I'm a republican, but you can't deny that the 2004 (during a republican congress) Net-Capital rule change played a huge role in where we are now. This allowed the Big 5 investment banks like Bear-Stearn to leverage 40-1 with no oversight. Granted Christopher Cox was an idiot, but this SEC rule change happened with a republican congress on Bush's watch. They really thought "voluntary regulation" would work. Ooops.