Am I the only one that thinks there may be a connection here....
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.[citation needed] Some provisions such as Regulation Q that allowed the Federal Reserve to regulate interest rates in savings accounts were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999 by the Gramm-Leach-Bliley Act signed by President Bill Clinton.[1][2]
Perhaps I don't know my markets and banking as well as I think I do.... But I have to wonder...
1 comment:
i have been reminded that a majority republican house and senate had to pass this bill before the president could make it official
which only lends to my thought that it is not one man's fault for any of this crap
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