Sunday, October 26, 2008
Bill Clinton in 99 - Signed repeal of Glass Segal Act (under one condition)
They would give out loans to people who couldn't pay. This act protected investment banks. They couldnt not own a commercial bank. Now there are no more investment banks. No one dares to criticize Clinton. Public thinks those were great times even now - thats what I hear from people. Citibank lobbied and spent 100 million to overturn it - I wonder where that money really went. They had bought Travelers Insurance and were lose it if they couldnt overturn Glass Segal.
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