As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's outspoken champion of deregulation. And he got it, by playing a lead role in the writing and passage of the 1999 repeal of the Depression-era Glass-Steagall Act, which had separated commercial banks from Wall Street. Then he inserted a provision into the 2000 Commodity Futures Modernization Act that exempted derivatives like credit-default swaps from regulation.
he was financed by the 8 largest Investment banker's lobbyists - Bear Stearns, Merrill Lynch, Goldman Sachs, JP Morgan, etc....... - Time Magazine
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment