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How Deregulation Led to the Current Bank Collapse

By D.A. Smith

Charleston City Paper | October 9, 2008

In 2000, Sen. Phil Gramm attached a rider to an appropriations bill to deregulate derivatives trading and other complicated financial instruments like collateral debt obligations. This was the effective nail in the coffin for the FDR-era Glass-Steagall Act, which was created to prevent a repeat of the crash of 1929.

View Full Story at Charleston City Paper

Tags: Wall Street, deregulation, credit crisis, economic issues, Phil Gramm, Great Depression, Glass-Steagall Act

Charleston City Paper

Founded in 1997, the locally owned and operated City Paper is Charleston's only weekly alternative newspaper and the second-largest publication in the metro Charleston area. Reaching a strong mix of active, affluent locals and tourists, the City Paper has thrived...

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South Carolina Congressman Blames Minorities for Banking Crisisnew

Although last Wednesday's debate between Rep. Henry Brown and his Democratic challenger Linda Ketner lacked the sparks of their previous encounter, the face-off was notable for how Brown blamed poor minorities for the financial crisis.

Charleston City Paper | D.A. Smith | 10-30-2008 | Economy

Tags: 2008 downballot elections, race relations, South Carolina, Linda Ketner, economic issues, Henry Brown, Community Reinvestment Act

Sexism on a Stick: Conventions Prove that Women are the New Blacknew

I've had a blast watching how both Republicans and Democrats come together and act like they really give a rat's ass about the status of women in this country. I'm at a loss as to which party's ploy is more cynical: Barack Obama and his adoption of the "equal pay for equal work" mantra or John McCain and his choice of Alaska Gov. Sarah Palin as his running mate.

Charleston City Paper | D.A. Smith | 09-11-2008 | Commentary

Tags: 2008 presidential election, Barack Obama, Hillary Clinton, John McCain, women's issues, Sarah Palin

Republicans, Democrats Trade Barbs Over Energy Independencenew

The war on terror. The war on drugs. Welfare reform. Family values. Remember those? Every single one was a signature issue of a general election campaign designed to distract the voting public from critical challenges facing the US. This year it's energy independence. Woo-hoo!

Charleston City Paper | D.A. Smith | 08-13-2008 | Commentary

Tags: oil, gas prices, fuel costs, election-year politics, energy independence

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