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Occupy Underground

Leslie Valley

(310 posts)

4. By the time the affiliation restrictions in the Glass–Steagall Act were repealed

Reply to Fire Walk With Me (Original post)

Mon Mar 11, 2013, 12:17 AM

Mar 2013

It was pretty much already being ignored. In 1998 Citibank (a bank) was allowed to merge with Salomon Smith Barney(an investment house) by the Federal Reserve Board’s new interpretation of the Glass–Steagall Act.

President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate" and he signed the repeal know as the Financial Services Modernization Act of 1999 into law.

Bill Clinton signs into law the
Gramm-Leach-Bliley Financial Services Modernization Act,
November 12, 1999.

Oh and Sid, notice the gun to Bills' head in that photo?

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Repeal of Glass-Steagall Caused the Financial Crisis [View all] Fire Walk With Me Mar 2013 OP

+1,000,000,000,000,000,000,000 thelordofhell Mar 2013 #1

If Hillary promised to undo her hubby's mistake DonCoquixote Mar 2013 #2

Whoa! That's RW claptrap. That bill was veto proof. Festivito Mar 2013 #8

Maybe if the Democrats who voted for it had held their ground it would not have sabrina 1 Mar 2013 #13

Accountable? Hah! Probably got campaign funds, media silence, and think-tank "research." Festivito Mar 2013 #16

RW claptrap DonCoquixote Mar 2013 #14

It's a RW talking point hit on Bill Clinton where it's all Repubs and few Dems. Festivito Mar 2013 #17

I'd bet Bill and Hillary Clinton would like to get rid of GS, but it's not a question of wanting, DonCoquixote Mar 2013 #19

Alright now. Very funny. Yes, they'd like to reinstate GS, reverse the reversal of GS, Festivito Mar 2013 #20

actually, errant thinking did DonCoquixote Mar 2013 #23

We aren't a 'brand' we are people. The repeal of GS was most definitely Right Wing sabrina 1 Mar 2013 #21

We're not a brand, we have a brand. Festivito Mar 2013 #22

K&R AnotherMcIntosh Mar 2013 #3

By the time the affiliation restrictions in the Glass–Steagall Act were repealed Leslie Valley Mar 2013 #4

The gun was the happy veto over-riders standing behind him. Festivito Mar 2013 #9

Have a gander at Clinton's signing statement and tell me they were twisting his arm Leslie Valley Mar 2013 #15

I would, I could. He starts by talking about other stuff: Festivito Mar 2013 #18

The Greed of the Politicans who Supported the Repeal of Glass-Steagall Caused the Financial Crisis. AnotherMcIntosh Mar 2013 #5

Talk to a FOX "News" viewer and tell them people on Wall Street should go to jail and they'll say,.. Spitfire of ATJ Mar 2013 #6

I worked at JP Morgan when... Shanti Mama Mar 2013 #7

Forced to choose between a Clintonista and a Republican... Festivito Mar 2013 #10

If Hillary wins the PRIMARY in 2016 DonCoquixote Mar 2013 #24

GS aided the crash, but the cause was the April 2004 unfettering of the banks. Festivito Mar 2013 #11

If its such a problem; how come the news doesn't cover it? Blanks Mar 2013 #12

BOTH Clintons wanted Glass-Steagall repealed cprise Apr 2015 #25

Message auto-removed Name removed Feb 2019 #26

A thread on DU letting the GOP off the hook and blaming Democrats foe 2008 Demsrule86 Apr 2019 #27