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Reply #12: Sponsored bill that gave us subprime derivatives 2000 [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
autorank Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-19-09 05:13 PM
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12. Sponsored bill that gave us subprime derivatives 2000
The sponsors of the "Commodity Futures Modernization Act of 2000." This is the act that allowed the wild speculation in derivatives like subprimes and credit default swaps. And those were the financial vehicles that caused our crash and burn economy.

Top row: Senators (S. 3283: Richard Lugar (R-IN), sponsor, cosponsors Senators Tom Harkin (D-IA) and Tim Johnson (D-SD).plus cosponsors, Retired Senators Peter Fitzgerald (R-IL), Phil Graham, (R-TX), Chuck Hagel (R-NE). Bottom: Representatives (all retired) (H.R. 5600)Thomas Ewing (R-IL) sponsor; cosponsors Thomas Bliley, Jr. (R-VA), John J. LaFalce (D-NY), Jim Leach (R-IA).
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