Financial Services Modernization Act of 1999

Risk Anatomy™ →Go uptown There are six types of known. The Rumsfeld three: Known knowns: Things you do know you know; Known unknowns: Things you do know you don’t know; Unknown unknowns: Things you don’t know you don’t know; And the Jolly Contrarian three: Unknown knowns: Things you don’t know you do know. Not officially known: Things you know but the general public can’t prove. Knowable unknowns: Things you don’t know, but think you do know, for the time being, because computers. Risk | Fear | Ecosystem | Market | Government | Firm | Cartel | Individual | Trust | Audit | Complexity | Prisoner’s dilemma | Transaction | benign | brutishIndex: Click ᐅ to expand: Risk Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Known to some as the Gramm-Leach-Bliley Act, the Financial Services Modernization Act of 1999, signed into law by Bill Clinton, was the point at which the Glass-Steagall Act died and lessons of the great crash of 1929 became unknown knowns which needed to be re-learned out of whole cloth; a process which took only eight years.

See also

• Global financial crisis
• Rumsfeld’s taxonomy of unknowns