According2Sam #79

It is impossible to really understand the housing crisis that lead to the Great Recession without understanding the three phases of the crisis: the setup, the execution, and the coverup. Most people miss the big picture about what happened, because they fail to see these three phases as one grand conspiracy. When one does consider these three phases together you quickly realize that what happened was less of a crises and more of an elaborate crime. The architecture and building of the structure that eventually collapsed happened in the 1990's when Bill Clinton was president. This was the setup. The architects that built the structure were Chairman of the Federal Reserve, Alan Greenspand, and Clinton's Secretary of the Treasury, Robert Rubin; along with their two henchmen, Lawrence (Larry) Summers and Timothy Geithner. If the setup could be explained in one word, that word would be 'deregulation'. The plan involved unchaining Wall Street and knocking down walls that had been in place since the 1930's. Many of these regulations had been put in place in response to the Great Depression to prevent another crash. How was the housing bubble created to pop, and how did massive deregulation under Bill Clinton setup the next phase of the crash under George Bush? Join the conversation and get answers to these questions and more on According2Sam episode #79.