BOEHNER: ‘THERE WAS NO DEREGULATION’…. On CNN’s “Situation Room” yesterday, Wolf Blitzer, paraphrasing President Obama, told House Minority Leader John Boehner (R-Ohio), “[H]e seemed to be saying, all those Republicans who want a free market, who want to deregulate, who want the government off the back of these huge corporations, look what we got as a result of all of that.” Boehner replied:
“Wolf, you have to understand, there was no deregulation of anything in the financial services industries. As a matter of fact, there was an increase in regulation.”
Seriously, has Boehner even been awake since getting elected to Congress 18 years ago? Does he not remember voting for the Gramm-Leach-Bliley Act? And supporting the deregulation of derivatives?
Now, perhaps Boehner can defend these regulatory changes, perhaps not. But to deny that the changes even took place is ridiculous.
“There was no deregulation of anything in the financial services industries.” John Boehner has said a lot of bizarre things in recent years, but this is just breathtaking. He’s either a) lying; b) hopelessly ignorant; or c) confused about the meaning of the word “deregulation.”
I suppose we shouldn’t rule out some combination of these possibilities.