Quote:
Originally Posted by broke
Didn't WJC sign the Commodity Futures Modernization Act of 2000 into law about two months before he left office when it was attached as a rider to an appropriations bill? I'd love to hear more about this rejected Clinton plan to "regulate it".
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I guess I didn't explain it fully. Essentially the bill was pushed through and clinton signed. Clinton, near the end of his presidency, put into motion a series of rules/laws that would essentially limit companies ability to use these new regulation (or lack that there of) to control the energy markets and hide much of the profit in offshore accounts so that you couldn't tell who exactly was carrying out this manipulation. Bush scraped those plans as soon as he got into the white house. So he didn't really cause the deregulation, he did, however allow and endorse the transparency of it so that the people who do this can hide and not be questioned or taken to task for it. They actually call it the Enron Loophole.