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2008 Great Depression and causes

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Please provide a 5 - 7 page response in regards to the Risk Policy attachment. Please provide your response via attachment only.

Discuss the goals of public risk policy and assess the performance of overall US risk policy in the era 1999-2013. Cite specific legislation and economic incidents, as well as supporting data and analyses to make your case.

1999 was the year of the Financial Services Modernization Act -- the one that killed off Glass-Steagall.
https://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act

This imposed grave risks on the economy and many feel it was a large cause of the financial crisis; others feel it was not primary or even critical.

The question asks you to assess whether legislation did its job of adequately managing broad economic risks for all the citizens of the US (and perhaps beyond these borders) or if it instead imposed undue risks on some or all.

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2008 Great Depression and causes are examined.

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http://www.usnews.com/opinion/blogs/economic-intelligence/2012/08/27/repeal-of-glass-steagall-caused-the-financial-crisis

Discuss the goals of public risk policy and assess the performance of overall US risk policy in the era 1999-2013. Cite specific legislation and economic incidents, as well as supporting data and analyses to make your case.

The United States risk policy in the era from 1999-2013 was atrociously pro-business to the chagrin of the American public in general, but it was even more disastrous for minorities and the poor. Two of the primary pieces of legislation responsible for the failure in U.S. risk policy was the Gramm-Leach-Bliley Act and another Act inspired by Senator Phil Gramm, which was the the Commodity Futures Modernization Act. Both of these acts were promulgated as being beneficial to US risk policy with one repealing the longstanding Glass-Steagall that was passed after the Great Depression in 1933 to prevent many of the same abuses that occurred throughout the period leading up to the Great Depression from 1921-29 when the stock market crashed. Coincidentally, the same 8 year period from 1999-2007 occurred again in regard to a false boom that crashed as a result of the repealing of the protections that were afforded by Glass-Steagall, which had resulted in largely preventing any great financial crash since 1933 as a result of effective regulations.

The aforementioned acts are largely considered responsible for causing the 2007 subprime mortgage financial crisis as well as the OTC derivatives that were a major driving force in the Great Recession of 2008. The deregulation that occurred has been cited as the primary reason that the type of intertwined and unregulated financial supermarkets that resulted in investment banks, commercial banks, and insurance firms all being under the same institution was allowed to occur, which was explicitly banned following the Great Depression by Glass-Steagall ...

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