Originally Posted by jimmac
Whatr about your reply to e1618978 ?
We've been over what happened during the Reagan years concernin the S&L debacle. It was Reagan's deregulation that caused the situation in the first place!http://en.wikipedia.org/wiki/Reagan_...ation_scandals
From Wikipedia :
This was pretty damning stuff but you want to down play it and focus on Carter!
Here's the exchange :
Of course you'll deny or obfuscate. That's why I don't
go to this trouble too often.
I love how you try to pre-empt any counter argument by implying that disagreeing with your premise constitutes "obfuscating, denial or distorting facts." I won't be falling for that little trick of yours. I will post my opinions and continue to make intellectually honest arguments based on fact.
Speaking of which, I do appreciate the Reagan example. However, I'd ask you to consider that when one types "Reagan Administration scandals" into Google or Wikipedia, one is likely to get a list of articles that just happen to assign blame for certain scandals to that administration. It's really not surprising.
As for the article itself, I have a problem with it: It's not "damning" at all. The problem is it violates Wiki's neutrality policy, because it contains unsupported statements and opinions, such as:
Reagan's "elimination of loopholes" in the tax code included the elimination of the "passive loss" provisions that subsidized rental housing. Because this was removed retroactively, it bankrupted many real estate developments made with this tax break as a premise, which in turn bankrupted 747 Savings and Loans, many of which were operating, more or less, as banks, thus requiring the FDIC to cover their debts and losses with tax payer money.
That would need to be supported. Then we have this....
This with some other "deregulation" policies ultimately led to the largest political and financial scandal in U.S. history
That one is really bad. Which policies? How did they lead to the scandal? The article is written with clear point of view, which is not up to Wiki's standards. For another point of view, let's just type in "savings and loan crisis" into Wiki and see what happens. Oh, look:
Major causes according to United States League of Savings Institutions
The following is a detailed summary of the major causes for losses that hurt the savings and loan business in the 1980s:
1. Lack of net worth for many institutions as they entered the '80s, and a wholly inadequate net worth regulation.
2. Decline in the effectiveness of Regulation Q in preserving the spread between the cost of money and the rate of return on assets, basically stemming from inflation and the accompanying increase in market interest rates.
3. Absence of an ability to vary the return on assets with increases in the rate of interest required to be paid for deposits.
4. Increased competition on the deposit gathering and mortgage origination sides of the business, with a sudden burst of new technology making possible a whole new way of conducting financial institutions generally and the mortgage business specifically.
"Deregulation" isn't even mentioned until item #5. 15 reasons are given. Two of them saying something about deregulation.
So tell me, who is distorting the facts...the person that does research on "Reagan administration scandals," or the one that researches "savings and loan crisis." Hmmm?
Originally Posted by jimmac
Hey SDW! Now we have two examples of how you distort the facts. There's another in the Water Boarding thread.
You have no examples. You have examples of how you distort the facts, actually. Hilarious.