I never said it wasn't true, you left out many facts, I filled in for you.The Gramm–Leach–Bliley Act of 1999
sponsored by the republicans of the same names is widely regarded as the opening of Pandora's Box which lead the financial, Insurance and investment companies to merge and compete for the most "inventive" ways to package and sell so-called commodities such as the infamous derivatives. This legislation was forced into being because of the pressure applied by the largest proposed bank,investment house and insurance merger up til that time. This act was not responsible for ALL of the conditions that were the crisis but as it butchered the safety features of Glass Steagall it created the tools that were used to play hide and seek with the shaky mortgages that had not previously been available to the financial sector under the rules of Glass–Steagall Act.
The above pics are the culprits. All republicans.
Wasn't it Clinton that signed the bill, instead of vetoing it? Then it would have required 66 votes to pass and the GOP didn't have the votes. Oh wait, the bill passed the House 362- 57 and the Senate 90-8 and then went to the Democratic President. Now my memory says there were 55 Republicans in the Senate at the time and 45 Democrats. So, it looks like the majority of both parties and the President liked the bill.
Funny how history is different than what you were telling us.
Feel free to point out anything in my post that is untrue.
Feel free to point out anything in my post that is untrue.