81,821
edits
Known known: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) (Created page with "{{a|risk|}}Stables from which the horse has bolted, which your risk and legal teams will accordingly obsess about, until the last guy who was there when the horse bolt...") |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 6: | Line 6: | ||
:''The oligarchy of major U.S. financial sector firms succeeded in establishing a dogma of deregulation in American political circles and in using its considerable political influence in Congress to overturn key provisions of Glass-Steagall and to dismantle other major provisions of statutes and regulations that govern financial firms and the risks they may take. In 1999 Congress passed the [[Gramm-Leach-Bliley Act|Gramm–Leach–Bliley Act]], also known as the [[Financial Services Modernization Act of 1999]], to repeal them.'' | :''The oligarchy of major U.S. financial sector firms succeeded in establishing a dogma of deregulation in American political circles and in using its considerable political influence in Congress to overturn key provisions of Glass-Steagall and to dismantle other major provisions of statutes and regulations that govern financial firms and the risks they may take. In 1999 Congress passed the [[Gramm-Leach-Bliley Act|Gramm–Leach–Bliley Act]], also known as the [[Financial Services Modernization Act of 1999]], to repeal them.'' | ||
Fifty-seven years later, anyone who was there at the time was dead. And so the wheel turned full circlye Just eight years later everyone found out what [[Glass-Steagall]] was for. | Fifty-seven years later, anyone who was there at the time was dead<ref>Except — irony alert! — [[Alan Greenspan]]. Though in fairness to the great [[Ayn Rand|Randian]] deregulator, even he was only six at the time.</ref>. And so the wheel turned full circlye Just eight years later everyone found out what [[Glass-Steagall]] was for. | ||
{{ref}} | |||