Originally Posted by DonDadda59
The banks were allowed to issue the subprime mortgages and engage in other shady financial transactions because of a lack of regulation, a lack of oversight due in very large part to the Republican created Gramm-Leach-Bliley bill and other initiatives that repealed the protections offered by Glass-Steagall (Bill Clinton bares a lot of the blame for going along with this). So you are correct, it was a very specific problem, caused by a very specific series of actions... that many Republicans want to double down on.
The aim of deregulation is to grow the economy, not create market bubbles. Do you think republicans secretly wanted the recession to happen or something?
You should be arguing for better oversight and stiffer penalties (criminal penalties) for people who take advantage of the rules, not arguing against the rules themselves.