It Begins With Us

[FREAKgeek]

 

[loco]

I find it so interesting when people think that changes that would occur on such a large scale, ie over an entire country as powerful and wide ranging as the us, can happen as a result of changes or enactments in a period of months or even years.
REALITY, is that all the good that was going on here was a result of the things Reagan did, and shit has been spiraling downward ever since.  Clinton gets a ton of credit for what he inherited and not not nearly enough blame for what he did.  People are stupid to attribute prosperity to him just cause he was in office.  Its the equivelent of a farmer giving him credit for good produce, meanwhile there was no rain during bush sr and ideal conditions during clinton.

Exactly! 

[DK II]

[Soul Crusher]

http://www.nytimes.com/2008/12/19/business/19gensler.html?adxnnl=1&pagewanted=print&adxnnlx=1320354189-cARd/n22ItZcrHSeYOZofg




WASHINGTON — Nine years ago, Gary Gensler played a central role in fending off tough regulation for exotic financial instruments for hedging against risk. On Thursday, President-elect Barack Obama picked him for a central role in cleaning up the wreckage that some of those instruments caused.

Mr. Obama named Mr. Gensler, a former Treasury official under President Clinton, to take over a seemingly obscure backwater of regulation, the Commodity Futures Trading Commission.

But the commission, which regulates the exchanges that trade futures contracts for products as varied as oil, wheat and instruments for betting on interest rates, will be a major battleground over reining in the trillion-dollar markets for credit-default swaps and other “derivative” financial instruments that greatly aggravated the damage caused by the subprime mortgage meltdown.

In 1999, Mr. Gensler worked alongside Robert E. Rubin, then the Treasury secretary under President Clinton, and Alan Greenspan, then the chairman of the Federal Reserve, to block proposals by the commission to regulate the new instruments.