<p>This is as much Phil Gramm’s fault as it is Barney Frank’s. Both parties supported deregulation when the economy was doing well, and are supporting regulation now that the DOW’s going down.</p>
<p>Of course, partisans everywhere are ignoring this truth in an attempt to win the election. Sickening.</p>
<p>“But I can’t blame [the Republicans]. This wasn’t something they forced me into. I really believed that given the level of oversight of banks and their ability to have more patient capital, if you made it possible for [commercial banks] to go into the investment banking business as Continental European investment banks could always do, that it might give us a more stable source of long-term investment.”</p>
<p>Bill Clinton, why can’t we be voting for your 5th term?</p>