Clinton's Role In Financial Mess (Congress, solution, Senate, banks)

[Motion]

Shattering Glass-Steagall

Lehman's failure marks the end of an era.

The following year, Congress passed and President Clinton signed the Financial Services Modernization Act of 1999, known as the Gramm-Leach-Bliley Act. This law effectively deleted the prohibition on commercial banks owning investment banks and vice versa...

Lehman’s Failure Marks the End of a Banking Era | Newsweek Voices - Daniel Gross | Newsweek.com

Maybe the solution is to just take things back to the way they were before Clinton signed this act? Anyway I guess this shows just how bi-partisian the causes of this financial breakdown are.

[marjoriexxx]

Originally Posted by Motion

Maybe the solution is to just take things back to the way they were before Clinton signed this act? Anyway I guess this shows just how bi-partisian the causes of this financial breakdown are.

Clinton had a republican congress and senate. They could have vetoed this Act. They are just as guilty. Silence gives consent.