Quote:
Originally Posted by Azure
Things would be more peachy if Clinton had gotten a 3rd term and the same Republicans controlled Congress.
Obama ain't got nothing on Clinton.
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Actually, Clintons' administration began the process that allowed all these financial institutions to fail. They repealed the Glass-Steagall Act in 1999, which lifted banking restrictions and got all of this started.....
http://www.google.ca/url?sa=t&source...sykk9GfvoOy7gQ
Quote;
"The
Banking Act of 1933 was a law that established the
Federal Deposit Insurance Corporation (FDIC) in the
United States and introduced banking reforms, some of which were designed to control
speculation. It is most commonly known as the
Glass–Steagall Act, after its legislative sponsors,
Carter Glass and
Henry B. Steagall.
The banking industry had been seeking the repeal of Glass–Steagall since at least the 1980s. In 1987 the Congressional Research Service prepared a report which explored the cases for and against preserving the Glass–Steagall act."