Back to the Future

27 03 2009

Thanks to Boing Boing.

From the 11/5/99 New York Times: “CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS By STEPHEN LABATON“:

”Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,” Treasury Secretary Lawrence H. Summers said. ”This historic legislation will better enable American companies to compete in the new economy.”The decision to repeal the Glass-Steagall Act of 1933 provoked dire warnings from a handful of dissenters that the deregulation of Wall Street would someday wreak havoc on the nation’s financial system

CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS (11/5/99)

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