1999: Clinton Signs Legislation Overhauling Banking Laws

[The Paperboy]

NY Times Nov 1999:

President Clinton signed into law today a sweeping overhaul of Depression-era banking laws. The measure lifts barriers in the industry and allows banks, securities firms and insurance companies to merge and to sell each other's products.

''This legislation is truly historic,'' President Clinton told a packed audience of lawmakers and top financial regulators. ''We have done right by the American people.''

The bill repeals parts of the 1933 Glass-Steagall Act and the 1956 Bank Holding Company Act to level the domestic playing field for United States financial companies and allow them to compete better in the evolving global financial marketplace.



Link here

 

[Ravi]

Clinton's penis destroys world, Republicans whine, news at 11

 

[The Paperboy]

Clinton's penis destroys world, Republicans whine, news at 11

Not sure I quite follow the logic there...

 

[Silence]

Clinton's penis destroys world, Republicans whine, news at 11

too true


I swear 50 years from now the Repubs will still be trying to blame shit on Clinton...

 

[The Paperboy]

too true


I swear 50 years from now the Repubs will still be trying to blame shit on Clinton...

Yeah, and if I don't vote for Obama I'm a racist. Besides, 50 years from now no one will remember who Clinton is.

The facts (remember those?) are mounting up quickly as to who is behind the current mess. And yes, that includes Republicans. But it seems to be including a whole lot more Democrats: Clinton, Dodd, Franks, Rubin, Raines, Johnson and Mudd.

 

[Ravi]

btw, according to the article:

The Senate approved the final bill by 90 to 8 on Nov. 4 and the House followed suit by a vote of 362 to 57. Congress had previously made almost a dozen unsuccessful attempts over the last 25 years to revise the statutes, which had increasingly come to be viewed as anachronisms.

So how did John McCain vote? If he supported it then I guess you have to blame him as well and vote for Obama...otherwise you are a hypocrite.

 

[The Paperboy]

btw, according to the article:
So how did John McCain vote? If he supported it then I guess you have to blame him as well and vote for Obama...otherwise you are a hypocrite.

My guess McCain voted for it. My purpose in posting this was because Phil Gramm was being blamed for the deregulation when everyone had their finger in the pie and thought it was a good idea - which it may very well have been if Fannie hadn't spun out of control and duped Wall Street by cooking the books on the value of their loans.

 

[elvis]

Not sure I quite follow the logic there...

No one said anything about Clinton's body parts. The republicans are getting blamed for this when Clinton signed it. It's like people blaming republicans for sending jobs overseas when Clinton signed nafta.

 

[Caligirl]

NY Times Nov 1999:

President Clinton signed into law today a sweeping overhaul of Depression-era banking laws. The measure lifts barriers in the industry and allows banks, securities firms and insurance companies to merge and to sell each other's products.

''This legislation is truly historic,'' President Clinton told a packed audience of lawmakers and top financial regulators. ''We have done right by the American people.''

The bill repeals parts of the 1933 Glass-Steagall Act and the 1956 Bank Holding Company Act to level the domestic playing field for United States financial companies and allow them to compete better in the evolving global financial marketplace.



Link here

If Hillary was the nominee I suspect she'd be taking big hits for the economic fallout going on right now, whether fairly or not, because of Pres Clinton stuff.

 

[rayboyusmc]

Yeah, and if I don't vote for Obama I'm a racist.

You must be. You and your side keep saying that. I don't see anyone from the left saying that. This is another one of those games you play. Made a statement and blame the other side.

Graham authored the bill. That's how he thinks. That's still how he thinks. Regulation is bad for me and my rich buddies, but okay for you little stinking farts who can't be trusted like we can.

 

[elvis]

You must be. You and your side keep saying that. I don't see anyone from the left saying that. This is another one of those games you play. Made a statement and blame the other side.

Graham authored the bill. That's how he thinks. That's still how he thinks. Regulation is bad for me and my rich buddies, but okay for you little stinking farts who can't be trusted like we can.

Why, then, are there reports every day from the MSM saying race will be a factor in this election? that it could be a stumbling block for Obama.