Regan did not understand what the effects of deregulation would have on Service organizations like Life insurance, Health insurance, Home owners, Auto insurance. I immediately, asked question like Why is there a Prudential Business Campus and selling stock in there companies to the general public? The Prudential Campus encompassed 100 acres of prime property in Upper Dublin, PA. Then, I saw the rest follow suite, Aetna, United Health Care, Blue Cross Blue Shield,etc. So instead of putting there money in a required account in a Federal bank collecting interest, where it was protected by the FDIC, it was invested in real Estate. Then we were in a manufacturing boom and real estate was yielding up to 18% on returns. Well, until his deregulation hit the manufacturing sector, outsourcing of private files, insurance company records were moved off shore. Places with very low labor like India became the records keeping and phone answering headquarters for these now hurting companies and then the manufacturing moved to China. The Stock market could no longer support the collapse of these unrented properties and the stocks took a crash. The people effected lost there jobs and their homes were lost to unpaid mortgages and everything went to hell in a hand basket. Mean while the biggest union in the world O.P.E.C. with a diminished need for oil in America and U.S.S.R. charged more per gallon to keep Rich owners in Champagne and Caviar. SO The Republican Party owes it to the American people to repeal deregulation and establish a modern manufacturing sector and make those properties viable by removing the Stock holders and CEOs from the triangle of DOOM.
Posted on: Sun, 08 Sep 2013 14:25:20 +0000