Jun 10, 2009

US financial crisis? I knew it was You, Reagan

Paul Krugman's opd-ed of May 31, 2009 tells of Ronald Reagan's signing the Garn-St. Germain Act of 1982 which opened the door wide to the deregulation of the mortgage industry and the crisis, frauds, and heists of today.

Here's the horoscope and a few details on the Reaganomics Eclipse of 1981 in case you haven't seen it. The post was written before I found info on the Garn-St. Germain Depository Institutions Act and before I realized the significance of it as it leads directly today's heist. (Thanks, Alex!)

And check out the text of President Reagan's jolly remarks at the Garn-St. Germain Act's signing ceremony in the White House Rose Garden on Oct 15, 1982 - 11:03 am, as you'll see here.

"All in all, I think we hit the jackpot," said Reagan as noted by Paul Krugman in his op-ed linked above.

Spoken like a true ideologue with heister tendencies.

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