The hard core Obamaphiles still claim he is solving a problem not of his own making, and they are largely correct. To be sure, the mortgage meltdown did not happen on his watch. But the mortgage market was largely wrecked
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When those who point fingers seek blame for the financial crisis of 2008 (we are yet to have an official historical name for this disaster) the common refrain is deregulation of the financial industry, but some examination seems to be
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The Glass-Steagall Act was passed in 1933 in response the Crash of 1929. It built a wall of separation between investment banking and commercial banking. It sought to isolate the purpose of providing loans for mortgages and small businesses from
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