IAD vs DCA
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Anonymous
Being a liberal means you don't have to follow laws you disagree with. |
Anonymous
Yes iran contra, Operation Ill Wind, Wedtech Scandal, etc. What other laws did old Ronnie and his conservatives break? Department of Housing and Urban Development grant rigging. Michael Deaver convicted of lying to both a congressional committee and to a federal grand jury about his lobbying activities after he left the government. Lyn Nofziger Reagan's Press Secretary was convicted on charges of illegal lobbying after leaving government service in Wedtech scandal. Let’s not forget Savings and loan crisis in which 747 institutions failed and had to be rescued with $160 billion in taxpayer dollars. Reagan's "elimination of loopholes" in the tax code included the elimination of the "passive loss" provisions that subsidized rental housing. Because this was removed retroactively, it bankrupted many real estate developments which used this tax break as a premise, which in turn bankrupted 747 Savings and Loans, many of whom were operating more or less as banks, thus requiring the Federal Deposit Insurance Corporation to cover their debts and losses with taxpayer money. This with some other "deregulation" policies, ultimately led to the largest political and financial scandal in U.S. history to that date, the savings and loan crisis. The ultimate cost of the crisis is estimated to have totaled around $150 billion, about $125 billion of which was directly subsidized by the U.S. government, which further increased the large budget deficits of the early 1990s. See Keating Five. |