Ronald Reagan Was Not as Great a Man as You All Think: From Thatcher Link

Margaret Thatcher Died Today and I Am Not Sorry

This is the Patrick.net link that includes my article. I wanted to blog it because the discussion is a good one. I suggest people read it.

In response to one fellow I said the following, which is an explanation of the Wikipedia passage that reveals Reagan's involvement in the deregulation of housing:


Now, I don't cheer Thatcher's death, but I am not sorry either.

And Reagan? Well, if people knew this they might change their minds about him:
From Wikipedia we get this telling information:

"In 1982, Congress passed the Alternative Mortgage Transactions Parity Act (AMTPA), which allowed non-federally chartered housing creditors to write adjustable-rate mortgages. This bi-partisan legislation was, according to the Urban Institute, intended to "increase the volume of loan products that reduced the up-front costs to borrowers in order to make homeownership more affordable."[128] Among the new mortgage loan types created and gaining in popularity in the early 1980s were adjustable-rate, option adjustable-rate, balloon-payment and interest-only mortgages. Subsequent widespread abuses of predatory lending occurred with the use of adjustable-rate mortgages.[49][129] Approximately 90% of subprime mortgages issued in 2006 were adjustable-rate mortgages.[4"

So, Indi, Reagan in 1982 was responsible for putting into motion a chain of events that resulted in the housing bubble. And Thatcher put him up to it because he adopted Thatcherism that started in 1975.
That pretty much says it all. Reagan and Thatcher allowed the bankers to take over the world, put the process in motion. And so, their exploits against communism are diminished as we understand this fact.

And their anti union exploits were a precursor to globalization, where wages have been destroyed by the arbitrage of labor and the offshoring of all that was strong about America. 

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