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Reply #4: Not only could these words be re uttered, but so could the same fixes he imposed [View All]

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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-07-11 09:53 PM
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4.  Not only could these words be re uttered, but so could the same fixes he imposed
on the speculation and reckless banking...Reinstate the Glass Steagall Act....

The Gramm–Leach–Bliley Act (GLB), also known as the Financial Services Modernization Act of 1999, (Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It was signed into law by President Bill Clinton and it repealed part of the Glass–Steagall Act of 1933, opening up the market among banking companies, securities companies and insurance companies. The Glass–Steagall Act prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company.
The Gramm–Leach–Bliley Act allowed commercial banks, investment banks, securities firms, and insurance companies to consolidate. http://en.wikipedia.org/wiki/Gramm–Leach–Bliley_Act
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