Great find, Blueyon. I remember thinking at the time how odd it was that Congress was so hell-bent on overturning the Glass-Steagall Act that had been in place since the 1930s.
“I remember thinking at the time how odd it was that Congress was so hell-bent on overturning the Glass-Steagall Act that had been in place since the 1930s.”
You establish your geek credentials when you’re able to carry on a discussion about the Glass-Steagall Act.
I learned about Glass-Steagall when studying for a securities license, and I had similar misgivings when I heard about the Gramm-Leach-Bliley “modernization”. I’m convinced this opened the door to the mortgage bubble and led to the implosion going on in the credit markets.