On November 5, 1999, Congress passed the the Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, repealing the part of the Glass-Steagall Act of 1933 that regulated banking, securities companies, and insurance companies.
It only took ten years for market speculation specifically allowed by the bill to create a bubble and subsequent crash.
More details here: http://www.govtrack.us/congress/bill.xpd?bill=s106-900
Senate vote (90 for, 8 against) on the bill here: http://www.govtrack.us/congress/vote.xpd?vote=s1999-354
House vote (362 for, 57 against) on the bill here: http://www.govtrack.us/congress/vote.xpd?vote=h1999-570
Maybe you’ll want to check your reprentatives and see how they voted and send them a note. Of all the politicians who opposed the bill, the vast majority of them were Democrats.
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