In order to distract attention from government housing policy and the Federal Reserve, left leaning economists claim that the financial crisis was brought on by the Gramm-Leach-Bliley Act (the partial repeal of Glass-Steagall) and the Commodity Futures Modernization Act. But, did the repeal of this legislation cause the financial crises of 2008 or was it another, much more mundane reason for the housing and subsequent market crash?  Tom Woods and guest Peter J. Wallison explore this topic in detail on Episode 639 of the Tom Woods Show.

 

 

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